Viva Gold Corp (TSXV: VAU; OTCQB: VAUCF) has announced it is pursuing two parallel workstreams at its 100%-owned Tonopah Gold Project in Nevada: advancing Pre-Feasibility Study and environmental baseline work toward future mine permitting, while mobilising a core rig to drill approximately 1,000 metres in three to four holes at the high-grade Midway Hills discovery. The update follows the company's oversubscribed C$6.5 million private placement closed in September, providing capital to fund these programs. Investors may be watching closely given the company's stated goal of commencing formal mine permitting in 2027.

Key Points

  • Viva Gold Corp (TSXV: VAU; OTCQB: VAUCF) operates the 100%-owned Tonopah Gold Project in western Nevada
  • PFS completion remains on track for Q4 2026, with mine plan design substantially complete and detailed costing underway
  • Approximately 1,000 metres of core drilling planned at Midway Hills, including a twin of discovery hole TG2617
  • Investors may monitor PFS delivery, Midway Hills drill results, and progress on environmental baseline studies supporting the permitting timeline

Tonopah Pre-Feasibility Study and Environmental Baseline Programs on Track

Viva Gold reports its PFS is advancing on schedule, with mine plan design substantially complete and detailed costing underway ahead of a Q4 2026 target completion. Supporting the future mine permitting process, the company has commissioned a power supply study with NV Energy and an archaeological survey covering portions of the Tonopah land package not surveyed within the last 10 years. A water well drilling rig is expected to mobilise to site to drill a second test well and four additional monitoring wells to support hydrologic modelling, and permits have been received to commence water re-infiltration testwork on valley floor gravels.

Core Drilling and Geophysics Target Midway Hills Discovery Zone Extensions

Viva is mobilising a core rig to complete approximately 1,000 metres across three to four holes at Midway Hills. One hole will twin discovery hole TG2617, which returned results of 21.4 metres at 0.32 g/t Au and 35.1 metres at 1.62 g/t Au and 16.7 g/t Ag via reverse circulation methods. The release states the twin hole will validate prior RC results and deepen the interval, which bottomed in gold mineralisation. Additional holes will test step-out extensions to the discovery zone. A geophysical firm is simultaneously completing an additional 18.2 line-kilometres of Phase II CSAMT survey over the area to help define targets for follow-up drilling.

Viva Gold Stakes Additional Claims Across Southwestern Tonopah Land Package

Based on a revised geologic model informed by the Midway Hills discovery, Viva Gold has staked 42 additional unpatented lode claims totalling approximately 840 acres in the southwestern portion of the Tonopah land package. The company currently holds approximately 213 million shares outstanding. President and CEO James Hesketh, who serves as the qualified person for technical disclosure, noted the company expects to commence formal permitting work in 2027, following completion of ongoing baseline studies and the PFS.