A new pick from Allan Barry Reports
Brought to you by sponsor Advance Gold (AAX.V)
Viva Gold Corp. (VAU.V)
Viva Gold announced impressive drill results earlier today, including 3 metres of 46.1 g/t gold which included 1.5 metres of 84.9 g/t gold. The drill results are from their Tonopah Gold Project in Tonopah, Nevada.
It is another company that fits into what I’m looking for these days, good drill results in companies with solid stock structures.
Another common denominator of my picks is I like them in good mining jurisdictions and Nevada is at the top of the list. The drilling was completed in their winter drilling program, and I suspect they will be in a hurry to get back in to follow up this drilling.
They are hitting the high-grade gold intersections close to surface, in the first couple hundred metres from surface. The reported drill holes are part of an 8-hole drill program, they have 4 more holes pending.
One of the holes was drilling in the gap between two known zones, and it returned 1.5 metres of 16.4 g/t gold. The drilling also returned broader hits as well, such as 45.7 metres of 2.2 g/t gold, which also included 13.7 metres of 5.1 g/t gold.
The highest grade hit of 3.0 metres of 46.1 g/t gold, that included 1.5 metres of 84.9 g/t gold was close to surface at around 70 metres of depth. Really nice to see that high-grade so close to surface. It was on the other side of a fault, so, they were able to pick up the mineralization and extend the strike.
The drilling was focused on infill drilling known gaps in their zones and to extend the mineralization to grow their zones. Now that they reached those goals, they will be working to move ounces in their resources up the confidence levels, and most importantly increase the resource size. Their stated goal is to increase the resource to over 1.0 million ounces.
Their stock has been a patchy trader that has come to life off these results. I will be looking forward to the pending results and further drilling. With so little stock out, they can often be patchy traders, but, I expect to see it much more active, with an increasing valuation with these results.
All the best,
Allan Barry Laboucan
Allan Barry Reports
Advance Gold (AAX.V)
P.S. my reports are for information purposes only, before making any investment decisions it is important to do your homework and speak with your financial advisers.