Mike Fagan,
Editor
July 1, 2021
Revival Gold (TSX-V: RVG)(OTC: RVLGF) — currently trading around C$0.60 per share — has provided an exploration update at its flagship Beartrack-Arnett Gold Project, Idaho, including plans for the arrival of a second drill rig to the property in mid-July.
Mira Geoscience has completed a 3D Artificial Intelligence (AI) drill data analysis resulting in the identification of several new exploration targets within the Beartrack-Arnett project area.
Revival CEO, Hugh Agro, commented via press release:
“Exciting developments in AI technology and geoscience in recent years have helped Revival Gold surface previously unrecognized or underappreciated exploration targets at Beartrack-Arnett. First and foremost, we now have a better handle on the mineralized trend in the enticing Ward’s Gulch through Joss area. Secondly, we have been able to establish a much more significant exploration target around Haidee extending now for approximately four kilometers around the current deposit in that location. Meanwhile, Revival Gold’s engineering and exploration drilling programs are proceeding largely on plan with initial drill results from the high-grade gold Joss target area expected by mid-August.”
Thus far in the current drilling round, Revival has completed 700 meters in two holes of a planned 2,500 meter, 5 hole program to be followed by an additional 2,500 meters in the Haidee heap leach gold target area.
Heap leach column test work is concurrently underway by SGS Lakefield on 3 tonnes of sample material to evaluate metals recoveries and to build on previous test work used in the 2020 heap leach phase Preliminary Economic Assessment.
Additionally, the company is working toward an updated mineral resource along with the potential restart of heap leach gold production [~72,000 ounces per annum] from existing infrastructure at Beartrack-Arnett.
And remember, 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 $1,775 an ounce.
This is an exciting juncture for Revival Gold and RVG shareholders alike as the company will be releasing drill results from multiple targets at the 3 million ounce Beartrack-Arnett Gold Project while simultaneously moving toward the potential restart of heap leach gold production.
As always, we’ll keep you updated every step of the way — and you can also learn more via our feature report on Revival Gold here.
Yours in profits,
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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