Revival Gold Expands Mineralized Footprint: 3 Million Oz Au

by Mike Fagan

Mike Fagan

Revival Gold (TSX-V: RVG)(OTC: RVLGF) — currently trading right around C$0.75 per share — has announced results from the final 10 holes of the company’s 2020 drill program at the flagship Beartrack-Arnett Gold Project in Lemhi County, Idaho.

Highlight intercepts from two holes from the Joss zone include:

  • 2.29 g/t gold over 45.7 meters including 4.58 g/t gold over 10.1 meters
  • 2.41 g/t gold over 43.9 meters including 6.84 g/t gold over 3.9 meters
     

Joss Zone high-grade

There’s now enough drilling into the deposit to start putting together the case for a high grade core over impressive dimensions with mineralization open in all directions including at-depth across the full strike of the mineralized body.

Revival Gold president & CEO, Hugh Agro —  whom you’ll be hearing more from in a moment — stated via press release:
 

“Today’s drill results from Joss have transformed our understanding of the potential for high-grade underground gold mineralization at Beartrack-Arnett. We now have fourteen drill holes over approximately one kilometer of strike in the vicinity of Joss being assessed for the presence of a continuous high-grade core of mineralization. Results of the assessment are expected shortly. The Joss zone remains open to the south towards the anomalous gold intercept encountered at Rabbit, some two kilometers further south. These results, together with those between the North and South Pits, extend the potential for economic gold mineralization at Beartrack-Arnett to fully seven to eight kilometers of prospective structure.”


Keep in mind also that Beartrack is a past-producing open pit heap leach mine that was operated by Meridian Gold [now Yamana Gold (NYSE: AUY)] and produced roughly 600,000 gold ounces — making it the largest past-producing gold mine in the state of Idaho.

The Beartrack Mine — which hosts a multi-million ounce gold resource and benefits from existing infrastructure including roads, powerline, and an existing ADR gold processing facility — was closed in 2000 due to ultra-low gold prices below US$300 an ounce. Of course, gold is now trading 6X above those levels at approximately $1,800 an ounce.

As a result of the excellent infrastructure in-place, the required capex to restart the existing plant is only about $100 million. Preliminary plans are for a first-phase restart of open pit heap leach operations to produce 72,000 ounces of gold per year at AISC [All-In Sustaining Cost] of $1,057 per gold ounce, followed by a second-phase mill operation at a much larger scale of production.

Additionally, the forthcoming mine plan may very well include an open-pit sulfide component with 1 million gold ounces in the Indicated mill resource running at 1.5 grams per tonne initially.

Looking ahead, the Revival team is in the process of planning out its 2021 exploration and engineering field program with drilling expected to resume in May.

Revival Gold — with a modest C$52 million market cap and finding cost per ounce of just $10 — represents one of the better speculations in the junior gold space.

Our own Gerardo Del Real of Junior Resource Monthly sat down with Revival Gold CEO, Hugh Agro, to discuss the latest high-grade intercepts & upcoming mine plan for the flagship Beartrack-Arnett Gold Project. You can listen (or read the transcript) to that interview here.

You can also click here for our most recent report on Revival Gold.

Yours in profits,

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest
 

Mike Fagan has mining in his blood. As a teenager he staked countless gold and silver properties in Nevada alongside his dad, Brian Fagan, who created the Prospect Generator model that’s still widely used today in the resource space. One of those staking projects was put into production by a major Canadian mining company — a truly rare and profitable experience. That background uniquely qualifies him as a mining stock speculator. One of the most well-known names in the business, Mike is now putting that experience to use for the benefit of Resource Stock Digest and Hard Asset Digest readers.

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