Mike Fagan,
Editor
Oct. 22, 2024
Revival Gold Inc. (TSX-V: RVG)(OTC: RVLGF) — currently trading around C$0.37 per share in a record high gold market — has provided an update on technical programs across its gold development projects in the western United States.
At the company’s recently acquired Mercur gold project, Utah, Revival has contracted RESPEC Company LLC to update the current MRE (Mineral Resource Estimate) in support of a forthcoming PEA (Preliminary Economic Assessment) slated for completion by the end of Q1 2025.
An updated drillhole database has also been assembled with RESPEC initiating its QA-QC (Quality Assurance-Quality Control) review.
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.
Revival Gold CEO Hugh Agro commented on the progress being made at Mercur via press release:
“With Mercur metallurgical testing now complete, the detailed work of assembling a robust geological database and model well underway, and engineering trade-off studies advancing, Revival Gold remains on track for the completion of the Mercur PEA, and the delivery of a significant potential value catalyst, by the end of Q1-2025. Engineering activities over the coming months will be focused on optimizing the head grade and scale of the potential Mercur heap leach operation and investigating the potential to introduce a CIL mill flow sheet into development plans. We look forward to reporting on these activities as well as Revival Gold’s ongoing exploration and permitting initiatives at both Mercur and Beartrack-Arnett in the months ahead.”
Additionally, all PEA-level metallurgical test work at Mercur has been completed with results coming in at 85%, 85%, 74%, 92%, and 82% across five column leach tests. The results demonstrate the amenability to cyanide leaching for the recovery of gold at Mercur with Hugh Agro commenting:
“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.”
A detailed program of data compilation, field reconnaissance, and geochemical sampling (along with grade domain and metallurgical modeling) is now underway at Mercur with a focus on extending the known zones of Au mineralization.
Turning to the flagship 5,800-hectare Beartrack-Arnett gold project, Idaho, RVG reports that it has extended the strike length at the Ridge Target area by approximately half a kilometer to the northeast.
Speculators will recall that Revival successfully increased the Measured & Indicated (M&I) Mineral Resource at Beartrack-Arnett last year 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.
The Revival Gold team is continuing to make steady progress toward an open pit heap leach restart at Beartrack-Arnett bolstered by last year’s PFS (Preliminary Feasibility Study), 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 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.
In addition to the commencement of a draft Plan of Operations for Beartrack-Arnett (slated for completion by year end), data processing is in progress from a recently completed 42-line-km ground IP survey and a 47-line-km magnetics ground geophysical survey.
Together with Mercur, Canada-based Revival Gold is sitting on a combined resource of ~6.2 Moz Au across all categories, making it one of the largest gold development companies in the western United States. And the accretive nature and close proximity of Mercur to Beartrack-Arnett brings with it the potential for heap leach gold production synergies across the two formerly-producing mine sites.
With accelerated progress being made at both Beartrack-Arnett and Mercur — and with gold trading above US$2,750 per ounce for the first time ever — Revival Gold looks well-poised for increased news flow from multiple projects within the ultra-safe mining confines of the USA.
Be sure to check out more of our ongoing Revival Gold coverage, including our exclusive interviews with upper management here.
Visit the Revival Gold corporate website and sign up to receive updates directly from the company here. Get in touch with Revival’s IR department at 416-366-4100 or via email at info@revival-gold.com.
Yours in profits,
Mike Fagan
Editor, Resource Stock Digest
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