- Viva Gold (TSXV:VAU) continues to strengthen its case for undervaluation with assay results from its 100-per-cent-owned Tonopah project
- The Nevada-based gold stock’s 10-hole, 1,515 metre drilling program was reported to be highly successful in infilling gaps in the existing drill pattern to connect higher grade areas into much larger zones
- Sixty per cent of the holes hit long sections of high-grade gold mineralization and within the footprint of the existing 2022 PEA resource pit outline
- Viva Gold Corp. last traded at $0.11 per share
Viva Gold (TSXV:VAU) continues to strengthen its case for undervaluation with assay results from its 100-per-cent-owned Tonopah project.
The Nevada-based gold stock’s 10-hole, 1,515-metre drilling program was reported to be highly successful in infilling gaps in the existing drill pattern to connect higher grade areas into much larger zones.
Program highlights
(Source: Viva Gold Corp.)
TG2409 (21.3 metres at 5.1 grams per tonne gold (gpt Au)) was drilled as an approximate 40-metre offset to the west of TG2211 (57.9-metres at 5.0 gpt Au commencing at 40-metres depth) and was oriented to locate and cross the East Fault zone.
TG2408 (18.3 metres at 4.4 gpt Au) was drilled as an approximate 40-metre step-out to the north of TG2211 where additional shallow high-grade gold mineralization in the TVL was encountered. The combination of TG2409, TG2408, TG2211 and TG2318 (54.9 metres at 1.0 gpt starting at 38-metres) to the south defines a large zone of shallow high-grade.
TG2407 (89.9 metres at 2.0 gpt Au) successfully infilled an approximate 60- to 80-metre gap between four known high-grade zones and extended mineralization to depth indicating the potential to increase the depth of mineralization in this area.
TG2405 (16.8 metres at 0.9 gpt Au) was drilled as a 40-metre offset to the east of TG2307 (50.3 metres at 0.9 gpt Au starting at 93 metres) in a sparsely drilled portion of the project on the southern extent of a zone of mineralization.
TG2404 (36.6 metres at 3.3 gpt Au) was drilled to define the potential east-west width extent of a mineralized zone first intercepted in holes TG2209 (86.9-metres at 1.3 gpt Au starting at 87-metres) and TG2219 (18.3-metres at 4.1 gpt Au starting at 73-metres).
(Source: Viva Gold Corp.)
For results from holes TG2401 to TG2402, click here.
Management’s take
“This drill program produced amazing results with 60 per cent of the holes hitting long sections of high-grade gold mineralization and within the footprint (of) our existing 2022 PEA resource pit outline. We discovered previously unknown areas of gold mineralization with longer lengths and higher gold grades than expected. These holes were placed to tie together existing high-grade intercepts to strengthen and expand the shallow high-grade starter pits for the project, which we believed will substantially improve project economics. These results are expected to increase gold ounces at Tonopah, result in an upgrade to resource confidence levels, and reduce strip ratio as waste is converted to mineralization. This drill program provides clear justification and support for additional infill and step-out drilling on this project,” James Hesketh, the company’s president and chief executive said in a statement. “Many geologists go their whole careers without seeing drill results like these, so needless to say we are very excited about Tonopah.”
About Viva Gold
Viva Gold is a junior gold stock developing its Tonopah project in Western Nevada on the prolific Walker Lane mineral trend.
Viva Gold Corp. (TSXV:VAU) last traded at $0.11 per share.
Join the discussion: Learn what other investors are saying about this Nevada gold stock on the Viva Gold Corp. Bullboard, and check out Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.