Revival Gold (TSXV: RVG; US-OTC: RVLGF) recently reported the final four holes from its 2018 drill program at its contiguous Arnett and Beartrack gold projects in Lemhi County, Idaho, about 17 km from the town of Salmon.

The company drilled 900 metres across six holes at Arnett’s Haidee target in November 2018; before that it drilled 7,700 metres across 15 holes at Beartrack.

“The focus of the drilling in 2018 at Beartrack was about building resource but it was also about building scale,” Revival president and CEO Hugh Agro says in an interview with The Northern Miner on the sidelines of the 2019’s Prospectors and Developers of Canada Association convention in Toronto. “And when we get back in there this year, we’ll be focused on scale, because we’ve got a lot of strike length, a lot of mineralization to drill off.”

The company was able to get into Arnett at the tail end of its 2018 drill season, but had to shut its drills down early when weather conditions worsened. Although the company can turn drills year round at the project, it finds that stopping mid-November for the winter is generally more efficient.

“We’re itching to get back in there this year,” Agro says.

A drill at Revival's Beartrack gold project in Idaho. Credit: Revival Gold.

A drill at Revival’s Beartrack gold project in Idaho. Credit: Revival Gold.

The company cut 15.3 metres grading 0.64 gram gold from 15 metres downhole in Haidee as well as 8.2 metres at 6.65 grams gold from 377 metres downhole include 2.1 metres at 20.1 grams gold from 383 metres downhole at Beartrack’s Joss area. Agro says the plan this year is to get back into Arnett while continuing to build on what Revival has at Beartrack.

Beartrack is a former producer, having featured an open pit heap leach mine in the 1990’s that recovered roughly 600,000 oz. gold. It closed when the price of gold fell below US$300.

A maiden resource Revival tabled at Beartrack in 2018 totaled 33.3 million indicated tonnes grading 1.13 grams gold for 1.2 million oz. gold and 16.9 million inferred tonnes at 1.41 grams gold for 765,000 oz. gold. The resource consists mostly of mill material with about 14 million tonnes of leachable material.

The company’s 2018 drilling extended Beartrack’s strike length 950 metres south of its current resource, around the project’s Joss target. The project remains open to the southwest and at depth and now covers 5 km of strike length. Agro says it’s important for the company to demonstrate scope at Beartrack.

“We’re trying to show is that it’s a big system,” he says. “For a mill resource we need to have a big body of mineralization to justify the cap.

“As a mining engineer, it’s less interesting to me to find material. What we want to do is find economics and so by showing scope on Beartrack’s system, we get closer and closer to the critical mass that makes sense for a potential mill operation.”

Arnett is a 23.8 sq. km claim block adjoining Beartrack to the west. The company’s 2018 drilling at Arnett confirmed near surface gold in oxides over 400 metres of strike at Haidee. The target remains open to the northwest and down dip to the southeast. While the company has a starting point with leachable material already defined at Beartrack, it sees the potential for continuing to build its leachable material at Arnett.

Revival's Idaho project already has an ADR facility, leach ponds and power. Credit: Revival Gold.

Revival’s Idaho project already has an ADR facility, leach ponds and power. Credit: Revival Gold.

“What we’re doing is building out the critical mass of leachable material,” Agro says, “because we’ve got an existing ADR facility, we’ve got leach ponds, we’ve got cyanidation permits and we’ve got power to site. We’ll have to put additional capital into refurbishing the infrastructure but the point is the typical cost for these leach operations is quite a bit less than a mill operation, so for a smaller company our first goal is to get that up and running. The second step is the wider potential on the property for a mill.

“So we’ve kind of got our cake and can eat it too. We’ve got the near term project and we’ve got the longer term potential.”

Click here to continue reading...

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

Part of the Stock Digest family of websites

Small Cap Stock Digest



Name Last Change
DOW 26135.80 0.96%
S&P 500 2923.65 1.20%
NASDAQ 8002.81 1.33%
TSX 16304.05 0.95%
TSX-V 569.85 0.00%

Resource Commodities

Name Last Change
Gold 1503.20 0.50%
Silver 17.04 1.06%
Copper 2.60 2.602
Platinum 901.00 0.67%
Oil 56.21 2.38%
Natural Gas 2.21 0.45%
Uranium 25.08 0.00%