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MSA 7.15 +3.3% AEM 206.73 +1.6% OPW 0.105 +5.0% GRL 0.285 +1.8% AIS 0.150 +0.0% CUU 0.590 +0.0% SOMA 0.700 +2.9% GAL 0.395 +1.3% AUMB 0.630 −1.6% UTWO 0.390 +0.0% GSKR 3.28 +0.9% AVX 0.005 −nan% AII 19.37 −2.7% GWM 0.485 +1.0% GEN 0.070 −nan% NIO 0.135 +0.0% MSA 7.15 +3.3% AEM 206.73 +1.6% OPW 0.105 +5.0% GRL 0.285 +1.8% AIS 0.150 +0.0% CUU 0.590 +0.0% SOMA 0.700 +2.9% GAL 0.395 +1.3% AUMB 0.630 −1.6% UTWO 0.390 +0.0% GSKR 3.28 +0.9% AVX 0.005 −nan% AII 19.37 −2.7% GWM 0.485 +1.0% GEN 0.070 −nan% NIO 0.135 +0.0%
Drill Results Routine +

Viva Gold Intersects a New High-Grade Gold Zone at Shallow Depths at its Tonopah Gold Project in Nevada

Viva Gold's Tonopah Project Progresses Toward PFS Despite Market Indifference

By The Northwire Desk — AI Analysis Apr 23, 2026 · 07:00 VAU · 0.14 Viva Gold Corp.
Executive Summary
  • Viva Gold Corp announced initial results from its 2026 reverse-circulation (RC) drill program at the Tonopah Gold Project in Nevada on April 23, 2026.
  • Drilling completed to date includes 15 holes totaling 2,407 meters.
  • Key intersections include TG2601: 22.9 m @ 1.3 g/t Au (including 4.6 m @ 4.6 g/t Au) and TG2608: 12.2 m @ 1.6 g/t Au from shallow depths (29m).
  • Results indicate potential for two new zones of higher-grade gold mineralization starting near the surface within the southeast portion of the 2025 PEA resource pit area.
  • The Pre-Feasibility Study (PFS) remains on track for completion in Q4 2026.
  • Metallurgical testing is underway to evaluate coarser crush sizes for heap leaching, potentially reducing capital and operating costs.
  • Environmental studies include updated golden eagle/raptor studies and hydrologic modelling work plans submitted to the U.S. Bureau of Land Management (BLM).
  • Geophysical surveying completed 14,000 m of CSAMT surveying identifying major faults associated with gold mineralization.
Material Impact
  • The news confirms execution of the drilling program announced in February 2026 and validates the PFS timeline.
  • Finding shallow high-grade zones is positive for early mine economics (starter pit), but this was anticipated given the focus on converting inferred resources to measured/indicated status.
  • The market reaction has been muted; stock price declined from $0.19 in late February to $0.14 by April 22, despite the positive drill results and PFS progress. This divergence suggests investors are not pricing in the incremental value yet or are concerned about future capital needs.
  • The news is consistent with previous expectations set during the December 2025 financing and February 2026 study initiation; it does not fundamentally alter the project valuation narrative established by the July 2025 PEA.
  • No new major investors (e.g., Sprott, Lundin) were disclosed in this release, limiting the "Game Changer" potential relative to insider confidence alone.
VAU · Price
Company Overview
  • Company: Viva Gold Corp (TSX-V: VAU).
  • Flagship Project: Tonopah Gold Project, Nevada (100% owned).
  • Project Status: Advanced exploration/development stage; PFS underway for Q4 2026 completion.
  • Location: Walker Lane Trend, ~30 minutes from Kinross Gold's Round Mountain mine.
  • Resource Estimate (July 2025): 504,000 oz Measured & Indicated gold + 1,762,000 oz silver; 83,000 oz Inferred gold.
  • PEA Highlights: 7-year mine life, NPV $111.6M (at $2,400/oz), IRR 17.6%.
Read the original news release →

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Drill Results Jun 23, 2026 · 07:00

Viva Gold Continues to Expand Gold Mineralization at the Tonopah Gold Project in Nevada

Drill Results Jun 03, 2026 · 07:01

Viva drilled high-grade shallow zones at Tonopah, advancing the pre-feasibility study toward a q4 2026 completion.

Drill Results May 14, 2026 · 08:35

Viva Gold’s investor day pitch leans on fresh high-grade hits, but the market stays anchored near the lows as the Tonopah PFS timeline stretches into late 2026.

Other May 13, 2026 · 07:01

Viva Gold Tonopah Drilling Validates Shallow High-Grade Zones Ahead of PFS

Drill Results