General Precious Metals
Revival Gold (TSX-V: RVG)(OTC: RVLGF) CEO Hugh Agro on Intersecting High Grade Oxides at Haidee Including 3.93 g/t Gold Over 20.6 Meters
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the president and CEO of one of the most compelling speculations in the entire gold space, Revival Gold, Mr. Hugh Agro. Hugh, how are you today?
Hugh Agro: I'm very good, Gerardo. Great to be back with you.
Gerardo Del Real: Let's get right into it. We talked a bit off-air. We have a dollar index near 107. We have a gold price near $2,000 and somehow here you are at or near 52-week lows. Despite that, actually a good day in the market with some volume and some positive price action. You hit some high grade oxide at Haidee including 3.93 grams per tonne gold over 20.6 meters. You reported holes from eight core drill holes at the 2023 exploration campaign at Beartrack-Arnett. I would love for you to provide the context on that.
Hugh Agro: Thanks, Gerardo. Very excited about this. It's the first high grade we've hit in substance at Haidee, and it really is a follow-up to some drilling we did last year where we're seeing a northeast trending series of structures and what looks like a possible feeder structure for this system at Haidee. As we know, there's lots of mineralization at Haidee and in the Arnett property generally, and we've been searching for a potential feeder structure, and this looks like it could be it with some significant grade there. We're not used to getting high grades on the Arnett side of the property. We do get a lot on the Beartrack side of the property, so this is a really nice development.
Gerardo Del Real: You talk about how there's tangible potential here to meaningfully expand Revival's proposed Haidee open pit and heap leach restart plans, and of course we know that that is one of the multiple options that you have, which is kind of what makes this project so unique to me. One has always been the infrastructure, but two, the optionality, and I don't mean that in a way to talk about grade. I mean that in a way to describe the options you have as to potential mine plans. Can you speak to that a bit?
Hugh Agro: Well, yes. We have a positive PFS 24% IRR after tax on that first phase heap leach project. These drill results are outside of the pit shell for that reserve eight year mine life, and so this is something that has potential high value for the heap leach restart before we even talk about the second phase underground opportunity in the mill side of the project. So lots of optionality here by giving us more mine life, better grades potentially for that heap leach phase of operation, and this is all in oxides, all close to surface, all with excellent metallurgical characteristics. So pretty straightforward stuff. We just got to continue to move the ball forward on this project as we've done over the last number of years here. Average finding costs less than $6 an ounce on this project and we keep finding a lot more of the deposits are open in all directions.
Gerardo Del Real: Excellent. What comes next, Hugh?
Hugh Agro: Well, we'll have more drill results. We've got another eight holes to come and actually we're exploring in two totally undrilled areas and we'll have results from those drill activities from this past summer. That's the focus for the immediate term. We'll put this all into the thinking and the mix for planning for next year, but in the first instance, we want to get those drill results out, new areas of exploration, oxide targets, all in the area of the Haidee pit, and complimentary to that first phase heap leach plan that we put out in July.
Gerardo Del Real: Excellent. Looking forward to having you back on. We will chat again soon. Anything to add to that, Hugh?
Hugh Agro: Just thank you, Gerardo. Very good to be with you.
Gerardo Del Real: Always great catching up. Appreciate the time.Click here to see more from Revival Gold Inc.