Mike Fagan,
Editor
July 30, 2024
Revival Gold Inc. (TSX-V: RVG)(OTC: RVLGF) — currently trading around C$0.30 per share in a robust gold market — has provided an exploration update on its Beartrack-Arnett and Mercur gold projects located in Idaho and Utah, respectively.
At Beartrack-Arnett, which is the current flagship and the largest past-producing gold project in the state of Idaho, Revival has completed a 42-line-km IP ground geophysical survey south of the high-grade and high-priority Joss Zone, which includes the newly-acquired Sharkey target.
As you may recall, earlier this year, Revival increased its land position to the south of the Joss Zone (which is situated at the south end of the Beartrack-Arnett project area) with the addition of 57 lode mining claims spanning 476 hectares.
The newly-added claims encompass the Panther Creek-Coiner Fault System, which extends ~5 km south of Joss and is being evaluated by the RVG team as a braided fault system typical of the structures that host many orogenic gold deposits around the world.
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Chief among the newly-defined targets is the aforementioned Sharkey target, which is located within the Panther Creek Structural Corridor approximately 2 km south of the existing underground mineralization in the Joss target area.
Additionally, the company completed a 47-line-km magnetics ground geophysical survey over the Ridge and Shenon Gulch targets in the Arnett area to help define potential structural controls on mineralization in the area.
Data processing and interpretation of those two surveys is underway.
At the Mercur project, which is situated ~560 km south of Beartrack-Arnett, the Revival Gold team is near completion of an electronic scanning of ~1,900 historical drill logs, and has commenced column leach metallurgical testing, ahead of a planned PEA.
RVG also completed assaying for four reverse circulation exploration holes drilled at Mercur in 2022 that had been left un-assayed by the previous operator. Highlights include drill hole EN086, which intersected 0.91 grams per tonne gold over 25.9 meters drilled width.
The Revival team will be following up with data compilation, field reconnaissance, and selective geochemical sampling at Mercur beginning next month.
Revival Gold CEO Hugh Agro — whom you’re about to hear from directly in our exclusive interview — commented on the ongoing activities at Mercur and Beartrack-Arnett via press release:
“Revival Gold’s progress with technical programs this year has been encouraging with the Company’s final column leach metallurgical test results at Mercur now expected in September and the Company’s geophysical surveys at Beartrack-Arnett currently being processed to further qualify high value targets for potential future drilling.”
Last year, Revival Gold successfully increased Measured & Indicated (M&I) Mineral Resources at Beartrack-Arnett — which boasts exceptionally low discovery costs of less than US$5 per gold ounce in the ground — to 86.2 million tonnes grading 0.87 grams per tonne (g/t) gold containing 2.42 million ounces of gold (Moz Au) and Inferred Mineral Resources to 50.7 million tonnes grading 1.34 g/t gold containing 2.19 Moz Au.
That mineral resource update brought the combined resource at Beartrack-Arnett to roughly 4.6 Moz Au across all categories.
As Idaho’s largest past-producing gold mine, Beartrack-Arnett offers a multitude of advantages over the typical greenfields exploration project, including an ADR plant (gold processing facility), an 11,000 sq ft core facility, solution ponds, hydropower, and a water treatment facility — not to mention the 4.6 million gold ounces and counting.
Those distinct advantages should come squarely into play as RVG advances toward a 1st phase restart of heap leach gold production at Beartrack-Arnett.
With the highly-accretive May 2024 acquisition of privately-held Ensign Minerals Inc. (for ~61 million RVG shares) and the associated Mercur gold project, Utah, RVG is now sitting on a combined gold resource of ~6.2 Moz Au across all categories — making Revival one of the largest gold development companies in the United States.
Importantly, and as you’re about to discover in our exclusive interview coming right up, the relatively close proximity of the two projects makes for an ideal setup with potential for heap leach gold production synergies across the two formerly-producing mine sites.
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As promised, our own Gerardo Del Real of Junior Resource Monthly caught up with Revival Gold CEO Hugh Agro to go over next-steps in the advancement of the Beartrack-Arnett and Mercur gold projects. Please enjoy!
For more on Toronto-based Revival Gold Inc., please contact the company’s IR department at 416-366-4100 or via email at info@revival-gold.com.
Visit the Revival Gold corporate website and sign up to receive updates directly from the company here.
Yours in profits,
Mike Fagan
Editor, Resource Stock Digest
Click here to see more from Revival Gold Inc.