Viva Gold Stock Price, News & Analysis

Viva Gold Corp (OTCQB: VAUCF) is a junior gold company in the gold ore mining industry whose principal asset is the Tonopah Gold Project in western Nevada. The company trades on the TSX Venture Exchange under the symbol VAU, on the OTCQB as VAUCF, and on the Frankfurt exchange as 7PB. Viva Gold describes Tonopah as a large land position on the Walker Lane Mineral Trend, a well-known gold-producing belt in Nevada.

Core Asset: Tonopah Gold Project in Nevada

According to multiple company disclosures, Viva Gold holds 100% ownership of the Tonopah Gold Project. The project is located near Tonopah, Nevada, about a half-hour drive from the Round Mountain gold mine owned by Kinross Gold. Company materials state that Tonopah is a potential open pit, heap leach gold recovery operation with a positive Preliminary Economic Assessment (PEA) and a pit-confined measured, indicated, and inferred gold resource.

Viva Gold reports measured and indicated gold mineral resources at Tonopah and additional inferred resources, with the principal mineral trends on the property remaining open for extension. The company emphasizes a track record of steadily increasing gold resources over several years as it advances the project toward feasibility-level work and permitting.

Project Development and Technical Work

Viva Gold has described a series of technical programs at Tonopah. These include reverse circulation (RC) drilling to infill and extend mineralization, metallurgical testwork, resource model updates, and baseline environmental and technical studies. A PEA technical report for Tonopah outlines the project as an open pit, heap leach operation, and the company has referenced plans to move the project toward feasibility studies.

Drilling updates from the company highlight intercepts of gold mineralization in multiple zones within and around the PEA resource pit. These drill programs are aimed at converting inferred resources to measured and indicated categories, extending mineralization along structural trends, and testing step-out targets. Company commentary notes that mineralization remains open along key trends, which may have implications for future resource growth.

Metallurgical Testwork and Processing Concepts

Viva Gold has reported results from metallurgical optimization work at Tonopah. A study prepared by Kappes, Cassiday & Associates examined pulp agglomeration and heap leach processing for high- and low-grade gold mineralization. The company states that testwork on high-grade composite material, combined with column leach testing of agglomerated blends, indicated the potential for higher gold recoveries than those used in the 2022 PEA assumptions.

In more recent commentary, Viva Gold has also discussed using both traditional milling and heap leach processing to handle high- and low-grade materials from Tonopah. These processing concepts are presented as part of the company’s effort to optimize gold recovery and project economics, based on the distribution of mineralization and metallurgical characteristics identified in test programs.

Exploration, Resource Growth, and Economic Studies

Company disclosures describe Tonopah as a well-advanced project with a positive PEA and ongoing work to refine the resource model. Viva Gold has indicated that it has consistently grown resources at Tonopah over several years through drilling and technical evaluation. The PEA is based on a portion of the declared resource and uses a defined gold price assumption, with the company indicating that updated resource estimates and economic assessments are planned as additional data are incorporated.

Viva Gold has also referenced a preliminary economic assessment for Tonopah that outlines project-level metrics such as net present value, internal rate of return, and payback period at a specified gold price. These PEA results are used by the company to illustrate the project’s sensitivity to gold prices and the potential leverage to changes in the gold market, while also noting that such assessments are preliminary in nature.

Location and Mining Jurisdiction

The Tonopah Gold Project is located on the Walker Lane Mineral Trend in western Nevada, which the company describes as a world-class mineral belt. Viva Gold emphasizes that Tonopah is situated in an established gold mining region, with proximity to an operating gold mine and existing infrastructure. Company statements characterize Nevada as a mining-friendly jurisdiction, and this context is presented as an important factor for advancing Tonopah through technical studies and permitting.

Viva Gold has also noted that it controls a significant land position at Tonopah, including unpatented lode mineral claims and a privately held surface parcel within the project area. The private parcel provides a potential location for future process and support facilities and includes existing utilities and structures, according to company disclosures.

Environmental, Social, and Baseline Studies

Viva Gold states that it has made a commitment to environmental, social, and governance (ESG) considerations as it advances the Tonopah Gold Project. The company reports that it is conducting baseline environmental studies, including biological surveys of wildlife and vegetation. One such report notes that the Tonopah property is not within the habitat ranges for Sage Grouse or Desert Tortoise, based on field work submitted to the U.S. Bureau of Land Management.

In addition to biological studies, Viva Gold has undertaken work such as hydrologic testing, topographic surveying by aerial drone, and permitting activities with Nevada regulatory agencies. These efforts are described as part of de-risking the project and supporting future feasibility and permitting processes.

Corporate Profile and Capital Markets

Viva Gold is characterized in public communications as a junior resource company focused on gold exploration and project development. The company has highlighted a capital structure with tens of millions of shares outstanding and an investor base that includes institutional shareholders. It has also engaged external firms for investor relations and participates in mining investment conferences and industry events in locations such as New York, New Orleans, and Toronto.

The company uses these events and media partnerships to present updates on Tonopah, discuss exploration and development plans, and engage with investors interested in junior mining and gold projects. Viva Gold is featured in interview series and conference programs that focus on junior resource and venture issuers.

Management and Technical Oversight

Viva Gold’s disclosures identify a management team and board with experience in gold exploration and mine development. The company notes that its chief executive has decades of mining experience and has been involved in the development and construction of multiple mines. Technical disclosures related to Tonopah, including drill results and metallurgical studies, are signed off by a qualified person under applicable reporting standards, who is also an officer and director of the company.

According to company materials, Viva Gold’s board and management team are supported by additional mining professionals and external consultants in geology, metallurgy, environmental studies, and engineering. This structure is presented as supporting the technical and regulatory work required to advance the Tonopah Gold Project.

Risk and Regulatory Considerations

Company news releases include cautionary language regarding measured, indicated, and inferred mineral resources, emphasizing that these categories involve uncertainty and may not be economically or legally mineable. Viva Gold notes that inferred resources, in particular, have significant uncertainty and may not form the basis of feasibility or pre-feasibility studies except in limited circumstances under Canadian regulations.

Disclosures also highlight general risks common to exploration and development projects, such as variations in capital and operating costs, permitting timelines, commodity price fluctuations, financing availability, and technical uncertainties. Investors are cautioned not to assume that mineral resources will be converted to reserves or that projected recoveries and economic outcomes will be realized.