RE-TRANSMISSION: Viva Gold Increases Land Position at its 100% Owned Tonopah Gold Project in Nevada

Rhea-AI Summary

Viva Gold Corp. (TSX.V:VAU, OTCQB:VAUCF) announced the staking of 69 additional unpatented lode mining claims at its Tonopah Gold Project in Nevada, expanding its total land position to 513 claims over approximately 10,500 acres. This move is expected to enhance the project's exploration potential and support feasibility study and permitting for an open-pit heap-leach mine. A new drilling operation will commence shortly, with ongoing environmental and technical studies aimed at advancing the feasibility study.

Positive

• Staked 69 additional mining claims, enhancing exploration potential.
• Total land position now at 10,500 acres, expanding resource opportunities.
• New drilling operations to begin shortly, indicating active exploration efforts.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / July 19, 2021 / Viva Gold Corp. (TSX.V:VAU)(OTCQB:VAUCF) (the "Company" or "Viva") is pleased to announce that it has staked an additional 69 unpatented lode mining claims at its Tonopah Gold Project ("Tonopah"), located on the prolific Walker Lane mineral trend in Nevada. No royalty interest will be payable on these 69 claims under current mining law. These additional claims bring the total land position at Tonopah to 513 mining claims or approximately 10,500 acres (~4,250 hectares) of land and secures what is believed to be additional highly prospective ground along the principal northwest trend of gold mineralization at Tonopah, while also adding a mile of southern extension to the property along the Rye Patch fault zone where additional gold mineralization potential is believed to exist.

"These new claims add to the value of Tonopah by securing additional prospective ground for exploration, while also adding additional land to comfortably support feasibility study and permitting activities for a potential open-pit heap-leach mine. A new round of drilling operations at Tonopah will commence this week, while work is ongoing to advance environmental and technical studies required to support the planned feasibility study", states James Hesketh, President & CEO.

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 is a gold exploration and project development company with a focus on Nevada. Viva holds 100% of the advanced Tonopah Gold Project, a large land position of approximately 10,500 acres with demonstrated high-grade measured, indicated and inferred gold resources, located on the prolific Walker Lane gold trend in Nevada, about 30 kilometers south-east of the Round Mountain mine of Kinross Gold and 20 kilometers north from the Town of Tonopah. Viva's management team has extensive experience in mineral exploration, mine development and production and are supported by a Board of Directors and advisors who are proven mine finders, deal makers and financiers. Viva trades on the TSX-V as "VAU", on the OTCQB in the US as "VAUCF" and on the Frankfurt exchange under "7PB". For additional information on Viva Gold and the Tonopah Gold Project, please visit our website: www.vivagoldcorp.com.

For further information please contact:

James Hesketh, President & CEO
(720) 291-1775
jhesketh@vivagoldcorp.com

Valerie Kimball, Director Investor Relations
(720) 933-1150
vkimball@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; 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.

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.

SOURCE: Viva Gold Corp.

View source version on accesswire.com:
https://www.accesswire.com/656041/RE-TRANSMISSION-Viva-Gold-Increases-Land-Position-at-its-100-Owned-Tonopah-Gold-Project-in-Nevada

FAQ

What recent developments did Viva Gold announce regarding the Tonopah Gold Project?

Viva Gold announced the staking of 69 additional unpatented lode mining claims, increasing the total land position to approximately 10,500 acres.

How many mining claims does Viva Gold have at the Tonopah Gold Project now?

The total number of mining claims at the Tonopah Gold Project is now 513.

What is the significance of the new claims for Viva Gold?

The new claims are expected to enhance exploration potential and support feasibility studies for a possible open-pit heap-leach mine.

When will drilling operations commence at the Tonopah Gold Project?

New drilling operations are set to commence this week.