Part of the Stock Digest group of websites: Visit Tech Stock Digest  

In a May 29 research note, PI Financial analyst Brian Szeto reported that Revival Gold Inc. (RVG:TSX.V) announced an NI-43-101 compliant, maiden resource estimate for its flagship Beartrack gold project in Idaho; the resource estimate far exceeded PI Financial's forecast.

The initial resource, based on 458 holes comprising 71,000 meters of drilling, was 2 million ounces (2 Moz) gold at an average grade of 1.22 grams per ton (1.22 g/t). About 61% of the resource is in the Indicated category, and roughly 17% is made up of oxide material. Further, the deposit remains open at depth and to the south.

The base case, Szeto pointed out, assumes a US$1,300 per ounce gold price and a cutoff grade of 0.6 g/t. With a higher cutoff grade of 0.8 g/t, "there are still 1.3 Moz within the resource block model."

The analyst noted that PI Financial views this reported 2 Moz gold resource size as "very positive." He added, "We had been expecting an initial resource of approximately 1 Moz, so the resource announced today is significantly above our expectations." Also impressive, he wrote, is how quickly Revival advanced Beartrack to this stage, in about seven months post acquisition.

Click here to continue reading...

Subscribe to the RSD email list and get the latest resource stock activity directly to your inbox, for free.



Name Last Change
DOW 25413.20 0.49%
S&P 500 2736.27 0.22%
NASDAQ 7247.87 0.15%
TSX 15155.50 0.07%
TSX-V 624.51 0.00%

Resource Commodities

Name Last Change
Gold 1221.51 0.67%
Silver 14.41 0.90%
Copper 2.80 0.090
Platinum 846.50 0.000
Oil 56.46
Natural Gas 4.27 5.48%
Uranium 29.18 0.00%
Zinc 1.20 0.00%


Part of the Stock Digest family of websites
Small Cap Stock Digest