Mike Fagan,
Editor
May 20, 2022
Revival Gold (TSX-V: RVG)(OTC: RVLGF) — currently trading around C$0.60 per share — has released a positive mineral resource estimate update on its flagship Beartrack-Arnett Gold Project, Idaho.
Highlights include:
- Indicated Mineral Resource of 65 million tonnes at 1 g/t gold containing 2.11 million gold ounces; an increase of 56%
- Inferred Mineral Resource of 46 million tonnes at 1.3 g/t gold containing 1.94 million gold ounces; an increase of 19%
Revival Gold CEO, Hugh Agro — whom you’re about to hear from directly in our exclusive interview — commented via press release:
“Today’s 56% growth in Indicated Resources and 19% increase in Inferred Resource represents an impressive step forward in both the size and quality of resources at Beartrack-Arnett. Revival Gold’s technical progress over the past two years validates our confidence in project geology and the potential we see for Beartrack-Arnett to continue to grow. Today’s news bodes well for work already underway on a PFS to resume gold production utilizing existing infrastructure and it builds on Revival Gold’s understanding of additional potential future development alternatives. Revival Gold’s track record of growing resources, our competitive cost of discovery, and the alternatives we have for potential future development, add up to a compelling opportunity for our shareholders.”
Beartrack-Arnett checks every box in terms of being a solid Au resource in a Tier-1 mining jurisdiction.
Building off the current momentum — which now has the project at an impressive 4 million gold ounces across all categories — the plan going forward is to increase the resource even further by way of the drill.
The Revival team is moving straight into a 7,000-meter program with a key focus on following up on the high-grade Joss area where the company recently intersected 4.3 g/t gold over 110 meters.
Drilling will also resume at the Haidee satellite area where the RVG team continues to advance its Phase-1 project of restarting heap-leach production of oxide ores. The plan is to produce a PFS on the Haidee restart before year-end.
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The company also intends to get the drills over to the Arnett side of the property where several exploration targets have been identified.
So lots of drilling ahead in a gold market that looks poised to resume its upward trajectory in the face of rampant inflation and widespread market turmoil.
Our own Gerardo Del Real of Junior Resource Monthly caught up with Revival Gold CEO Hugh Agro to discuss the newly released resource update along with the upcoming drill plan. Enjoy!
Yours in profits,
Mike Fagan
Editor, Resource Stock Digest
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