(TheNewswire)
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Viva intercepts 0.89 g/t Gold and 6.78 g/t silver over 38.1 meters including 6.1 meters averaging 3.56 g/t Au and 22.45 g/t Ag from 179.8 meters below prior drilling.
Highlights
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New gold zone discovered at Midway Hills, ~1,400 m northwest of the main Tonopah resource: drillhole TG2616 returned 38.1 m of 0.89 g/t gold and 6.78 g/t silver, including 6.1 m of 3.56 g/t gold and 22.45 g/t silver from 179.8 m depth.
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A new target type at Tonopah— the intercept sits entirely within the Palmetto Argillite (OPA), ~27 m below the volcanic contact and beneath historic drilling.
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Open at depth and along strike— anomalous gold continues to the bottom of TG2616, with assays pending for two step-out holes ~100 m east and west.
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Drill-ready— the target lies within the existing Exploration Plan of Operations, allowing follow-up drilling to be approved on an accelerated basis, while Tonopah advances through a pre-feasibility study.
VANCOUVER, BC – July 1, 2026 – TheNewswire - Viva Gold Corp (TSXV: VAU; OTCQB: VAUCF) (the “Company” or “Viva”) is pleased to announce that it has made a major new gold discovery in the Midway Hills portion of its Tonopah Gold Project (“Tonopah,” or the “Project”). Tonopah is located on the prolific Walker Lane Mineral Trend in western Nevada, approximately a 30-minute drive south of Kinross Gold’s Round Mountain Mine.
TG2616 drilled vertically at a dip of minus 90 degrees intercepted 0.89 g/t Gold and 6.78 g/t silver over 38.1 meters including 6.1 meters averaging 3.56 g/t Au and 22.45 g/t Ag from 179.8 meters depth.
This significant intercept was entirely within Ordovician age Palmetto Argillite (OPA), commencing approximately 27 meters below the Tertiary Volcanic (TVL)/OPA contact. Assays are pending for two remaining exploration holes in the Midway Hills, drilled on a line approximately 100 meters to the east and west of TG2616. The Midway Hills are located approximately 1,400 meters (~1.0 mile) NW of the main resource pit at Tonopah, which is currently the subject of pre-feasibility study. Midway Hills is located within the boundaries of the existing Exploration Plan of Operations which will significantly accelerate the approval of additional drilling on this target.
“We are very encouraged with these results. This discovery clearly demonstrates the potential for a new zone of high-grade gold mineralization in an area of the Tonopah Gold Project that had been discounted by prior explorers. This area was originally drilled by Coeur d’Alene Mines in the 1980’s followed by Rio Algom and Kennecott Minerals, with minor follow-up drilling by subsequent companies, all of whom had targeted potential gold mineralization in the overlaying TVL consistent with early geologic targeting concepts for the project. Numerous gold intercepts were encountered in the TVL, but nothing of any significance. After almost 40 years of effort, Viva made this new high-grade discovery by targeting deeper potential mineralization below prior drilling in the underlying OPA,” stated James Hesketh, President & CEO.
The gold mineralization in TG2616 is located wholly within OPA and is related to Tertiary intrusives (“Tki”) within the argillite, and is associated with pyrite, quartz veining and minor silicification. Quartz veins and veinlets have acted as plumbing for mineralizing fluids, but significant wall rock penetration is evident. Intrusive Tki dikes are often present within and peripheral to the mineralization, suggesting that the structural preparation which allowed the emplacement of these dikes is also acting as a conduit for mineralizing fluids. Tki dikes are altered and mineralized within the broader gold zone.
The Midway Hills are foothills to the east of the San Antonio Mountains and differ from the main Tonopah project area which is located on the valley floor in flat terrain. The TVL/OPA contact around TG2616 dips steeply to the north and west and suggests potential target zones at varying depths below surface. Surface geology and earlier shallow drilling in the vicinity confirm that several major faults exist nearby. Anomalous gold grades are present to the bottom of TG2616, suggesting that mineralization could continue below this major gold zone. The increase in the silver/gold ratio relative to the main deposit suggests that the mineralizing fluids are distinct and that emplacement could be deeper beneath the paleo-surface.
Viva consistently assays for total gold and silver as well as cyanide soluble gold and silver in all its drilling. The ratio of cyanide assay values to total values provides a rough approximation of potential gold recovery through heap leaching methods. The ratios seen in hole TG2616 indicate that the Midway Hill’s may be metallurgically different from the main pit area with potential silver recovery being significantly higher than what is seen in the main deposit.
Nineteen reverse circulation drill holes totaling 3,210 meters have been completed in the 2026 reverse circulation drill program including three exploration holes drilled in the Midway Hills prospect area at Tonopah.
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Quality Assurance/Quality Control
Viva Gold utilizes a well-documented system of inserting blanks and standards into the assay stream and has a strict chain of custody for samples taken by the Company. Assays taken by the Company are completed at independent laboratories which have internal quality assurance and quality control systems and procedures. Assays were performed by American Assay Laboratories Inc. of Reno, Nevada, by fire assay and ICP methods with gravimetric finish.
Qualified Person
James Hesketh, MMSA-QP, has approved the scientific and technical disclosure contained in this press release. Mr. Hesketh is not independent of the Company; he is an Officer and Director.
About Viva Gold Corp:
Viva Gold’s 100%-owned Tonopah Gold Project is located within a large land position in established gold-mining country on the prolific Walker Lane Structural Trend in western Nevada, approximately a 30-minute drive south of Kinross Gold’s Round Mountain Mine. Viva has defined a high-confidence gold mineral resource and has demonstrated the potential for an economically viable open-pit, heap leach/mill gold project through its 2025 preliminary economic assessment (“PEA”). Pre-feasibility study (PFS) has been initiated on the project with a final report due in fourth quarter of 2026. Viva Gold is committed to advancing the Tonopah Gold Project in an environmentally and socially responsible manner, consistent with management’s core values.
Viva Gold is led by CEO James Hesketh, a 40-year mining industry veteran who has led the development and construction of eight mines globally. The Board and management team include experienced mining professionals with expertise in exploration, project development, construction, and mine operations.
Viva Gold trades on the TSX Venture Exchange (“VAU”), the OTCQB (“VAUCF”), and the Frankfurt Exchange (“7PB”). Viva currently has approximately 172 million shares outstanding. The Company is advancing its Tonopah Gold Project in mining-friendly Nevada with the support of institutional shareholders. More information is available on https://www.sedar.com and at www.vivagoldcorp.com.
For further information please contact:
James Hesketh, President & CEO
(720) 291-1775
Graham Farrell, Investor Relations
(416) 842-9003
graham.farrell@vivagoldcorp.com
Forward-Looking Information :
This news release contains certain information that may constitute forward-looking information or forward-looking statements under applicable Canadian securities legislation (collectively, “forward-looking information”), including but not limited to drilling operations and estimates of gold mineral resource at the Tonopah Gold Project. This forward-looking information entails various risks and uncertainties that are based on current expectations, and actual results may differ materially from those contained in such information. These uncertainties and risks include, but are not limited to, the strength of the global economy, inflationary pressures, pandemics, and issues and delays related to permitting activities; the price of gold; operational, funding and liquidity risks; the potential for achieving targeted drill results, the degree to which mineral resource estimates are reflective of actual mineral resources; the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with drilling and mining operations; and the ability of Viva to fund its capital requirements. Risks and uncertainties about the Company’s business are more fully discussed in the Company’s disclosure materials filed with the securities regulatory authorities in Canada available at www.sedar.com. Readers are urged to read these materials. Viva assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by law.
Cautionary Note to Investors --- Investors are cautioned not to assume that any "measured mineral resources", "indicated mineral resources", or "inferred mineral resources" that the Company reports in this news release are or will be economically or legally mineable. United States investors are cautioned that while the SEC now recognizes "measured mineral resources", "indicated mineral resources" and "inferred mineral resources", investors should not assume that any part or all of the mineral deposits in these categories will ever be converted into a higher category of mineral resources or into mineral reserves. These terms have a great amount of uncertainty as to their economic and legal feasibility. Under Canadian regulations, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in limited circumstances. Further, "inferred mineral resources" have a great amount of uncertainty as to their existence and as to their economic and legal feasibility. It cannot be assumed that any part or all of an inferred mineral resource will ever be upgraded to a higher category. The mineral reserve and mineral resource data set out in this news release are estimates, and no assurance can be given that the anticipated tonnages and grades will be achieved or that the indicated level of recovery will be realized.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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