The gold market is back in focus like never before
Gold prices have risen past all-time highs as investors turn to the safe-haven assets in the face of escalating U.S. tariff and trade concerns.
This could mean serious moves in commodities prices in the coming weeks, according to analysts at Finsum.
This has driven investors to seek out gold miners, filtering through to find those who are showing promise.
Enter:Viva Gold Corp (TSXV:VAU).
The Vancouver-based miner recently announced the final drill results from its 14-hole, 2,105-metre fall 2024 reverse circulation drill program at its wholly owned Tonopah Gold Project. Located on the Walker Lane Mineral Trend in western Nevada, the project is just a half hour drive south from Kinross Gold’s (TSX:K) Round Mountain Project, which has produced more than 15 million ounces of gold.
Highlights from the company
The drill program has yielded significant results, particularly in the southern extent of the east main resource area:
- TG2422: Intercepted three horizons totaling 51.8 metres starting at a shallow depth of 23 metres, averaging 2.0 grams per tonne (gpt) gold (Au), including 13.4 metres at 4.5 gpt Au and 1.5 metres at 16 gpt Au.
- TG2423: Intercepted three zones totaling 19.8 metres starting at 34 metres depth at an average grade of 0.65 gpt Au.
- TG2421: Intercepted 7.6 metres starting at 41 metres depth averaging 3.7 gpt Au.
- TG2420: Hit 10.7 metres at 0.70 gpt Au.
- TG2424: Drilled at the northern extent of the east main resource area, intercepted 30.5 metres at 0.9 gpt Au starting at 128 metres depth, including two zones each of 4.6 metres at 2.2 gpt Au and 2.6 gpt Au respectively.
- TG2415: Drilled in the west main resource area to test the deepest area of known mineralization at Tonopah, confirming 44.2 metres averaging 0.63 gpt Au in four zones, including 1.5 metres at 12.7 gpt Au, 4.6 metres at 2.6 gpt Au, and 3.0 metres at 4.2 gpt Au. This hole successfully confirmed mineralization in a large pocket of inferred material to the lowest elevation in the 2022 PEA resource pit shell.
- TG2414: Drilled to infill a large gap in the central northeast section of the main resource area, intercepted a thick package of mineralization totaling over 41 metres at an average grade of 0.6 gpt Au.
Leadership’s take
In a detailed media release on the program’s results, the company’s president and chief executive, James Hesketh stated that work is underway to develop a new NI 43-101 compliant resource estimate to include these new results, as well as the results from the previous two years of drilling.
“64 drill holes will be incorporated into our new resource and economic models,” he said. “Our goals for 2025 include completing an updated Preliminary Economic Assessment and using that study to provide the scope for a Pre-Feasibility Study in the second half of 2025. Based on positive economic results, Viva would utilize this Pre-Feasibility Study in combination with its advanced environmental baseline study work to initiate the development permitting process for the project.”
In an exclusive interview with The Market Online Watchlist, CEO Heckseth added that the team has completed wildlife and geochemistry studies, while also keeping archaeologic studies current. “We have a lot of the baseline work already competed and that has been done in tandem with our exploration work,” he said.
Click the video below to watch the interview in full.
Exploration plans
Viva Gold is not stopping there. The company has ambitious exploration plans to further unlock Tonopah ‘s potential. Hole TG2417 was drilled over 600 metres south of the original discovery zone, targeting a strong geophysical anomaly defined by a Controlled Source Audio Frequency Magnetotellurics (CSAMT) survey. This survey indicated the potential for a major fault within a zone of high resistivity. The fault was intercepted along with three zones of low-grade gold mineralization of up to 0.5 gpt Au and up to 3.4 gpt Silver. These results suggest the potential for additional mineralization along the entire 600-metre strike length to the discovery zone.
The combination of TG2417 results with the known Midway Hills resource potential, located 1.4 kilometres west of the main pit zone, demonstrates the potential for a significantly larger gold resource at Tonopah.
Investment corner
Viva Gold Corp.’s recent drill results and exploration plans highlight the significant potential of the Tonopah Gold Project. With a spot on the Walker Lane Mineral Trend and proximity to the prolific Round Mountain Project, Viva Gold is in a stable position to capitalize on its promising gold resources.
Since this time last year, Viva Gold stock has risen more than 30 per cent and has traded between $0.13 to $0.15 since this year began.
Investors are encouraged to conduct further due diligence and consider the potential benefits of adding Viva Gold Corp to their portfolios.
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.
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