Mike Fagan,
Editor
Sept. 10, 2024
Revival Gold Inc. (TSX-V: RVG)(OTC: RVLGF) — currently trading around C$0.30 per share in a record gold market — has announced positive metallurgy test results from its Mercur gold project, Utah.
Gold extraction rates came in at 85%, 85%, 74%, 92%, and 82% across five column leach tests, demonstrating that Mercur host rocks are amenable to cyanide leaching for the recovery of gold.
Revival Gold CEO Hugh Agro commented on the positive metallurgy test results via press release:
“We are very pleased with today’s metallurgical test results. The mid-80’s percent average extraction rate and rapid leach kinetics for the five columns tested bode well for the upcoming Mercur PEA.”
The 6,255-hectare Mercur property — which sits ~560 km south of Revival’s flagship, Idaho-based Beartrack-Arnett gold project (see property map below) — hosts a Carlin-type Inferred Mineral Resource of 89.6 million tonnes grading 0.57 g/t gold containing 1.64 Moz of gold.
Additional exploration work is presently underway at Mercur, including data compilation, field reconnaissance, and selective geochemical sampling.
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As noted, Beartrack-Arnett is the current flagship. Last year, Revival successfully increased Measured & Indicated (M&I) Mineral Resources at Beartrack-Arnett 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 — for 4.6 Moz Au across all categories.
Together with Mercur, Revival is sitting on a combined resource of ~6.2 Moz Au across all categories, making RVG one of the largest gold development companies in the United States.
Data processing is in process at Beartrack-Arnett from a recently completed 42-line-km ground IP survey and a 47-line-km magnetics ground geophysical survey.
The company is continuing to make steady progress toward an open pit heap leach restart at Beartrack-Arnett bolstered by last year’s Preliminary Feasibility Study (PFS), which successfully outlined a low-cost, phased development approach focused initially on the near-surface heap leach mining component.
As a past-producer under the Meridian Gold banner, the 5,800-hectare Beartrack-Arnett project boasts excellent infrastructure in place including an ADR plant (gold processing facility), an 11,000 sq ft core facility, solution ponds, hydropower, and a water treatment facility.
location images
The relative close proximity of the Mercur project brings with it the potential for heap leach gold production synergies across the two formerly-producing mine sites, with Hugh Agro adding:
“We are acquiring Ensign Minerals / Mercur gold project in Utah. It's a very good fit with our Beartrack-Arnett gold project. Importantly, it is immediately accretive, adding over 60% on a per share basis to our heap leachable resources, which, of course, are those relatively capital-efficient resources to exploit. And for just one-third of our market cap, we're taking our total gold resources to 6 million ounces and our target production from heap leach to 150,000 ounces a year. And again, this is all in the western United States in two projects that are about a six-hour drive from one another… so very synergistic for our team.”
Our own Gerardo Del Real of Junior Resource Monthly is on his way to the Beaver Creek Precious Metals Summit as we speak where he’ll be conducting a sit down interview with Mr. Agro… so we’ll have that interview, among several others, for you starting early next week.
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In the meantime, feel free to check out our most recent Revival Gold interview here.
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.