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Revival Gold Inc
Symbol RVG
Shares Issued 71,183,166
Close 2020-12-10 C$ 0.80
Recent Sedar Documents

Revival Gold drills 11m of 1 g/t Au at Beartrack-Arnett

2020-12-10 07:42 ET - News Release

Mr. Hugh Agro reports

REVIVAL GOLD INTERSECTS NEAR-SURFACE OXIDE GOLD IN AN ADDITIONAL ELEVEN DRILL HOLES AT BEARTRACK-ARNETT

Revival Gold Inc. has released results from an additional 11 drill holes from the company's 2020 drilling program on the past producing Beartrack-Arnett gold project located in Idaho.

The 11 holes released today are core holes drilled in the Haidee target area to upgrade resources from the inferred category to the indicated category (see technical report on the Beartrack-Arnett gold project, Lemhi county, Idaho, dated Feb. 21, 2020) and to expand the resource along strike and updip.

Highlights:

  • 1.01 grams per tonne gold over 11.0 metres (1) and 0.39 g/t gold over 10.4 metres (1) in AC20-49D;
  • 0.40 g/t gold over 13.2 metres (1) AC20-052D;
  • 0.86 g/t gold over 48.5 metres (1) in AC20-059D;
  • 0.45 g/t gold over 36.1 metres (1) in AC20-062D;
  • 0.83 g/t gold over 13.4 metres (1) in hole AC20-065.

(1) Drilled width; true width estimated to be approximately equivalent to drilled width.

Drill holes AC20-062D and AC20-059D were drilled along the northeast margin of the existing mineral resource at Haidee. Both holes intersected long intervals of gold mineralization indicating that mineralization extends updip into the gold soil anomaly northeast of the current Haidee resource. The anomaly is largely untested and represents an attractive target for further exploration.

"We are very pleased to see additional broad intercepts of near-surface oxide gold mineralization in the Haidee area. The results offer potential to expand the open-pit heap leach mine plan outlined in the results of Revival Gold's first phase preliminary economic assessment released in November," said president and chief executive officer Hugh Agro.

                                           DRILL RESULTS

Hole No.           From          To  Drilled width (1)                Fire assay gold grade (2)
                    (m)         (m)                (m)                                    (g/t)

AC20-049D3          4.0        14.9               11.0                                     1.01
incl.               6.8         8.8                2.0                                     3.67
                   20.3        23.7                3.4                                     0.72
incl.              20.3        20.7                0.5                                     3.19
                   80.2        84.4                4.3                                     1.15
                   91.1       101.5               10.4                                     0.39
                  111.6       137.3               25.7                                     0.27
AC20-052D4         22.9        34.4               11.6                                     0.28
                   71.0        77.1                6.1                                     0.28
                  106.1       119.3               13.2                                     0.40
incl.             106.1       107.6                1.5                                     2.67
                  140.5       151.5               11.0                                     0.22
                  181.2       189.2                8.1                                     0.20
AC20-055D5          2.7         9.1                6.4                                     0.81
                   25.6        29.0                3.4                                     0.54
                   62.2        69.2                7.0                                     1.03
                   98.1       102.0                3.8                                     1.70
                  120.9       122.6                1.8                                     0.35
                  144.8       148.4                3.7                                     0.48
                  168.8       173.6                4.8                                     0.24
                  182.3       184.7                2.4                                     0.28
AC20-057D6          7.3        11.9                4.6                                     0.41
                   41.8        70.9               29.2                                     0.19
                   96.5       117.1               20.6                                     0.21
                  130.1       136.2                6.1                                     0.26
                  142.5       144.6                2.1                                     0.40
AC20-058D          56.4        59.4                3.0                                     2.82
incl.              56.4        57.9                1.5                                     5.38
                   82.5        86.6                4.1                                     0.87
incl.              82.5        83.2                0.7                                     2.97
AC20-059D7          3.8         8.5                4.7                                     0.28
                   17.4        23.2                5.8                                     0.31
                   44.5        48.2                3.7                                     0.33
                   64.6       113.1               48.5                                     0.86
incl.              64.6        66.4                1.8                                     3.59
incl.              84.7        92.4                7.6                                     1.55
incl.              86.3        87.6                1.4                                     4.13
incl.              99.1       100.5                1.4                                     7.66
                  127.4       132.0                4.6                                     0.60
AC20-060D          74.1        77.1                3.0                                     0.24
                  155.4       165.8               10.4                                     0.70
incl.             158.5       165.8                7.3                                     0.93
AC20-062D8          5.5        12.5                7.0                                     0.91
                   27.4        46.6               19.2                                     0.25
                   99.5       135.6               36.1                                     0.45
incl.             105.6       110.2                4.6                                     1.14
AC20-063D                                                                no significant results
AC20-064D9          6.9        11.6                4.7                                     0.21
AC20-065D10        17.5        30.9               13.4                                     0.83
                   83.9        89.9                6.0                                     0.89
                  113.3       134.1               20.8                                     0.19

(1) True width estimated to be approximately equivalent to drilled width although some 
variation may occur. Numbers may not add up due to rounding.
(2) Where applicable, grades at Arnett are capped at 8.0 g/t Au using the methodology 
described in the technical report on the Beartrack-Arnett gold project, Lemhi county, Idaho, 
dated Feb. 21, 2020. No capping was applicable in the results presented.
(3) Average core recovery for the interval 4.0 metres to 14.9 metres was 74 per cent. 
Recovery for individual intervals was as follows: 7.0 metres to 7.9 metres -- 38 per cent; 
8.8 metres to 10.1 metres -- 50 per cent; 11.3 metres to 12.6 metres -- 43 per cent; 
13.1 metres to 13.7 metres -- 25 per cent; 14.0 metres to 14.3 metres -- 50 per cent.
(4) Core recovery for intervals with recovery below 50 per cent was as follows: 22.9 metres 
to 23.2 metres -- 50 per cent; 23.5 metres to 23.8 metres -- 50 per cent; 143.6 metres to 
145.1 metres -- 36 per cent.
(5) Core recovery for intervals for the intervals 6.1 metres to 7.6 metres and 8.2 metres to 
8.5 metres was 40 per cent and 0 per cent, respectively. The interval from 8.3 metres to 
8.5 metres was included at zero g/t Au.
(6) Core recovery for the intervals with recovery below 50 per cent was as follows: 10.8 
metres to 11.9 metres -- 43 per cent; 113.4 metres to 114.9 metres was 0 per cent; 114.9 
metres to 116.4 metres -- 50 per cent; 130.1 metres to 130.8 metres -- 40 per cent. The 
interval from 113.4 metres to 114.9 metres was included at zero g/t Au.
(7) Core recovery for the interval 45.1 metres to 46.6 metres was 50 per cent.
(8) Core recovery for the interval 110.2 metres to 111.1 metres was 40 per cent.
(9) Hole AC20-064D represents the redrilled upper 32.0 metres of hole AC20-046D, which 
had very poor core recovery.
(10) Core recovery from 20.3 metres to 20.7 metres was 13 per cent.

Drill program update

The 30 exploration and infill drill holes completed this season on the Haidee target totalled approximately 4,900 metres of drilling.

A further five holes have been completed between the North and South pit areas totalling approximately 1,660 metres. The holes in this area cover a strike length varying from 400 to 600 metres along the Panther Creek shear zone (PCSZ). Each of the holes intersected the PCSZ with varying amounts of oxidized and unoxidized sulphides in each hole.

An initial three exploration holes have been drilled in the Rabbit target area for a total of approximately 900 metres. Difficult drilling conditions limited the depth of drilling at Rabbit; however, the operating and geological information obtained in drilling these holes will be of use in planning next year's follow-up program.

This year's drill program will conclude shortly with the completion of two exploration drill holes in the Joss target area for a total of approximately 960 metres. Remaining assay results for the seven outstanding drill holes at Haidee and the nine outstanding drill holes at Beartrack are expected to be available in January and February, 2021.

Claim staking

Revival Gold staked an additional 47 claims on the northwestern boundary of the Beartrack-Arnett property this fall. The claims were staked around the periphery of the existing claim block to cover areas of alteration or conceptual targets developed during the company's 2020 mapping program. The new claims cover approximately 380 hectares, bringing the area covered by Revival Gold's total land position at Beartrack-Arnett to approximately 5,800 hectares.

Upcoming activities

With 2020 fieldwork coming to an end, Revival Gold has initiated a review of the data collected during this year's exploration program and the integration of these data into the Beartrack-Arnett geological model. In connection with these activities, the company has contracted Mira Geoscience Ltd., a geological consulting firm with expertise in three-dimensional computer modelling and artificial intelligence. Mira will take a holistic approach to data analysis, integrating all drilling data, including historical blast hole drilling from the Beartrack mine, and geological, geochemical and geophysical data to generate a three-dimensional model of the mineral systems at Beartrack-Arnett. The aim is to build on the company's understanding of mineralization controls at the deposit scale, the controls on higher grades within the deposits and to identify additional exploration targets beyond the known resource.

The company has also retained consulting structural geologist Brett Davis to investigate incidents of high-grade mineralization within the current mineral resource at Beartrack-Arnett, at depth and along strike within the PCSZ. Drilling in the PCSZ to date has intersected several instances of bonanza-style grades including 71 g/t gold over 9.8 metres (BT12-175D), 23.1 g/t gold over 3.3 metres (BT17-201D) and 20.1 g/t gold over 2.1 metres (BT18-221D). These results have received little follow-up to date.

Qualified person

Steven T. Priesmeyer, CPG, vice-president, exploration, Revival Gold, is the company's designated qualified person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects and has reviewed and approved its scientific and technical content.

About Revival Gold Inc.

Revival Gold is a growth-focused gold exploration and development company. The company has the right to acquire a 100-per-cent interest in Meridian Beartrack Co., owner of the formerly producing Beartrack gold project, located in Idaho. Revival Gold also owns rights to a 100-per-cent interest in the neighbouring Arnett gold project.

We seek Safe Harbor.

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