NYBob
3 years ago
Revival Gold Appoints John Meyer Vice President, Engineering & Development
V.RVG | 3 days ago
TORONTO, Dec. 07, 2021 (GLOBE NEWSWIRE) --
Revival Gold Inc.(TSXV:RVG,OTCQX:RVLGF) (“Revival Gold” or the “Company”), is pleased to announce the appointment of Boise, Idaho based industry veteran, John Meyer, as the Company’s Vice President, Engineering & Development. Mr. Meyer’s 30-year career in the gold business has included senior leadership roles in mine permitting and development, underground and open pit engineering as well as reclamation and mine closure. Mr. Meyer has worked on some of the most high-profile gold projects in the Americas, including the Stibnite project in Idaho and the Fruta del Norte project in Ecuador.
Mr. Meyer brings additional management depth and experience to Revival Gold having spent much of his career in senior and international project management positions leading multi-disciplinary teams with gold majors including Barrick Gold and Kinross Gold. Most recently Mr. Meyer served as Vice President, Development, with Perpetua Resources. Mr. Meyer holds a B.Sc. in Civil Engineering and a B.Sc. in Geophysics, both from the University of Western Ontario, Canada.
“We are thrilled to welcome John to Revival Gold’s leadership team. John’s outstanding technical credentials and recent relevant experience in Idaho will bolster Revival Gold’s capabilities and leadership as we advance towards the responsible re-development of the Beartrack-Arnett gold project,” said Hugh Agro, Revival Gold, President & CEO. “2022 will be a pivotal year for Revival Gold as we accelerate optimization initiatives, permitting preparations and development plans for the potential restart of operations. John’s extensive engineering and operating experience, both internationally and in Idaho, is a terrific fit with our business”, Agro added.
“I am excited to join Revival Gold and to help lead the Beartrack-Arnett project towards development. The Company is well on its way with a growing resource base, proven metallurgy, and considerable existing infrastructure. The project is one that can make a significant contribution to Idaho with minimal new development disturbance since much of the first phase operation is located on the previously developed Beartrack site,” said Meyer.
Revival Gold, Mr. Meyer and Perpetua Resources have agreed to facilitate an orderly transition of Mr. Meyer’s leadership responsibilities and duties to Revival Gold for the mutual benefit of all concerned. Subject to regulatory approval, Revival Gold has granted Mr. Meyer 200,000 incentive stock options in connection with his appointment. Pursuant to the Company’s Stock Option Plan, the options are exercisable at a price of $0.70 each for a period of five years and are subject to vesting provisions.
About Revival Gold Inc.
Revival Gold Inc. is a growth-focused gold exploration and development company. The Company is advancing the Beartrack-Arnett Gold Project located in Idaho, USA.
Beartrack-Arnett is the largest past-producing gold mine in Idaho. A Preliminary Economic Assessment has been completed for a first phase restart of heap leach operations to produce 72,000 ounces of gold per year over an initial seven-year mine life at an AISC of $1,057 per ounce of gold. Meanwhile, exploration continues, focused on expanding the current Indicated Mineral Resource of 36.6 million tonnes at 1.15 g/t gold containing 1.36 million ounces of gold and Inferred Mineral Resource of 47.1 million tonnes at 1.08 g/t gold containing 1.64 million ounces of gold. The mineralized trend at Beartrack extends for over five kilometers and is open on strike and at depth. Mineralization at Arnett is open in all directions.
For further details, including key assumptions, parameters and methods used to estimate the Mineral Resources, and data verification, please see the Company’s NI 43-101 compliant technical report titled, “Preliminary Economic Assessment of the Heap Leach Operation on the Beartrack Arnett Gold Project, Lemhi County, Idaho, USA – NI 43-101 Technical Report”, dated December 17th, 2020.
Revival Gold has approximately 71.4 million shares outstanding and had a cash balance of C$3 million on September 30th, 2021. Additional disclosure including the Company’s financial statements, technical reports, news releases and other information can be obtained at
http://www.revival-gold.com
or on SEDAR at www.sedar.com.
For further information, please contact:
Hugh Agro, President & CEO or Lisa Ross, CFO
Telephone: (416) 366-4100 or Email: info@revival-gold.com
Cautionary Statement
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility
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NYBob
3 years ago
Revival Gold Completes Drill Program and Provides Exploration Update
V.RVG | 7 days ago
TORONTO, Oct. 18, 2021 (GLOBE NEWSWIRE) --
RevivalGoldInc.(TSXV:RVG,OTCQX:RVLGF) (“Revival Gold” or the “Company”),
announces the completion of its 2021 drilling program at the Beartrack-
Arnett Gold Project (“Beartrack-Arnett”) located in Idaho, USA. During
the year, Revival Gold drilled 20 core holes for a total of 4,900
meters.
Initial drill results released in August and in September confirmed the
continuity of high grades within broad zones of gold mineralization in
the Joss target area.
Joss extends over a strike of 1 km, has been drilled to a depth of
about 500 meters and is open to the north, south and at depth.
BT21-237D intersected 11.79 g/t gold over 2.5 meters and 5.36 g/t gold over 5.8 meters within 84.6 meters at 2.67 g/t gold (see August 5th, 2021, press release)
BT21-238D intersected 6.79 g/t gold over 6.0 meters and 12.6 g/t gold over 1.2 meters within 2.84 g/t gold over 50.0 meters (see September 7th, 2021, press release).
Beyond the 1 km of known mineralized strike at Joss, BT21-239DB collared approximately 400-meters south of the southern-most drillhole in the area, intersected a zone of fracture-controlled sericite alteration. Geochemical analysis confirmed the presence of weakly anomalous gold and arsenic values before the hole encountered an unexpected post-mineral fault that may have displaced the continuation of Joss mineralization in this area. While the direction and amount of displacement is unknown at this time, this is an encouraging result that suggests mineralization may extend beyond current drilling.
Wrapping up the Joss program this year, Revival Gold completed drill hole BT21-240D to test continuity of gold mineralization between BT-237D and BT-238D. BT21-240D intersected the intended structure. Assay results are pending.
In the Haidee target area, Revival Gold completed a total of fifteen engineering, infill and exploration core holes in the near surface, oxide material. Four of the holes were drilled for geotechnical and hydrological purposes. These holes will help guide pit slope parameters and provide necessary ground water data in preparation for next year’s first phase heap leach Pre-Feasibility Study.
The remaining drill holes at Haidee this year were targeted to upgrade and potentially expand on the resource at Haidee. The deposit remains open in all directions. Follow-up drilling to test the four km diameter target area that surrounds current mineral resources at Haidee, is currently in the permitting process for 2022. 2021 Haidee assay results are pending.
“Revival Gold’s exploration team experienced no lost-time incidents and delivered outstanding initial results from this year’s drill program,” said Hugh Agro, President & CEO. “Remaining 2021 drill results will be released over the next two months. Our team’s focus will now turn to updating the Beartrack-Arnett geological model in preparation for a resource update expected in the first quarter of 2022 and the completion of metallurgical and geotechnical work for the first phase heap leach Pre-Feasibility Study expected by the end of next year.”
QA/QC Program
Quality Assurance/Quality Control consists of the regular insertion of certified reference materials, duplicate samples and blanks into the sample stream. Check samples are submitted to an umpire laboratory at the end of the drilling program. Sample results are analyzed immediately upon receipt and all discrepancies are investigated. Samples are submitted to the ALS Geochemistry sample preparation facility in Twin Falls, Idaho. Gold analyses are performed at the ALS Geochemistry laboratory in Reno, Nevada or Vancouver, British Columbia, and multi-element geochemical analyses are completed at the ALS Minerals laboratory in Vancouver, British Columbia. ALS Minerals is an ISO/IEC 17025:2017 accredited lab.
Gold assays are determined on samples consisting of half drill core by Fire Assay and AAS on a 30-gram nominal sample weight (Au-AA23) for Beartrack, and Fire Assay and AAS on a 50-gram nominal sample weight (Au-AA24) for Arnett. For shallow holes targeting leachable mineralization, gold is also determined by cyanide leach with an AAS finish on a nominal 30-gram sample weight (Au-AA13). Multi element geochemical analyses are completed on selected drill holes using the ME-MS 61M method.
Qualified Person
Steven T. Priesmeyer, C.P.G., Vice President Exploration, Revival Gold Inc., 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 Inc. is a growth-focused gold exploration and development company. The Company is advancing the Beartrack-Arnett Gold Project located in Idaho, USA.
Beartrack-Arnett is the largest past-producing gold mine in Idaho. A Preliminary Economic Assessment has been completed for a first phase restart of heap leach operations to produce 72,000 ounces of gold per year over an initial seven-year mine life at an AISC of $1,057 per ounce of gold. Meanwhile, exploration continues, focused on expanding the current Indicated Mineral Resource of 36.6 million tonnes at 1.15 g/t gold containing 1.36 million ounces of gold and Inferred Mineral Resource of 47.1 million tonnes at 1.08 g/t gold containing 1.64 million ounces of gold. The mineralized trend at Beartrack extends for over five kilometers and is open on strike and at depth. Mineralization at Arnett is open in all directions.
For further details, including key assumptions, parameters and methods used to estimate the Mineral Resources, and data verification, please see the Company’s NI 43-101 compliant technical report titled, “Preliminary Economic Assessment of the Heap Leach Operation on the Beartrack Arnett Gold Project, Lemhi County, Idaho, USA – NI 43-101 Technical Report”, dated December 17th, 2020.
Revival Gold has approximately 71.2 million shares outstanding and had an estimated cash balance of C$3 million on September 30th, 2021. Additional disclosure including the Company’s financial statements, technical reports, news releases and other information can be obtained at
http://www.revival-gold.com
or on SEDAR at www.sedar.com.
For further information, please contact:
Hugh Agro, President & CEO or Lisa Ross, CFO
Telephone: (416) 366-4100 or Email: info@revival-gold.com
Cautionary Statement
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Technical information in this news release has been reviewed and approved by Steven T. Priesmeyer, C.P.G., Vice President Exploration, Revival Gold Inc., a Qualified Person within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
This News Release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company, or management, expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company’s intentions regarding its objectives, goals or future plans and statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the Company’s ability to predict or counteract the potential impact of COVID-19 coronavirus on factors relevant to the Company’s business, failure to identify additional mineral resources, failure to convert estimated mineral resources to reserves with more advanced studies, the inability to eventually complete a feasibility study which could support a production decision, the preliminary nature of metallurgical test results may not be representative of the deposit as a whole, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
http://www.revival-gold.com
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NYBob
3 years ago
bigone NEWS Revival Gold, Inc. (RVLGF) Revival Gold Resumes Drilling
The High-Grade Joss Target
Click to view a PDF of this release
https://revival-gold.com/revival-gold-resumes-drilling-the-high-grade-joss-target/
Toronto, ON – May 25th, 2021 –
Revival Gold Inc. (TSXV: RVG, OTCQX: RVLGF) (“Revival Gold” or the “Company”), is pleased to announce that drilling has resumed on the high-grade Joss target at the Company’s Beartrack-Arnett Gold Project (“Beartrack-Arnett”) located in Idaho, USA.
Approximately 2,500 meters of core drilling in five holes are planned this summer at Joss. Drilling will focus on continuing to define and expand on the one-kilometer trend of high-grade gold mineralization with underground mining potential. Summary high-grade intercepts from the fourteen core holes previously drilled on the Joss trend range from 4 – 9 g/t gold and are estimated to extend between 1 – 5 meters in true width (see Revival Gold Press release dated March 1st, 2021).
High-grade, potentially underground-minable, material at Beartrack-Arnett offers the possibility to supplement open pit mill material to produce a similar, or greater, quantity of gold at a lower rate of mill throughput. Joss has the added advantage of being centrally located close to existing open pit resources and infrastructure at the project.
The existing Beartrack-Arnett Mineral Resource is primarily in an open pit setting and includes an Indicated Open Pit Mill Resource of 22.2 million tonnes grading 1.52 g/t gold for 1.09 million ounces gold. Open pit mill material was assessed by the Company’s resource consultants, Roscoe Postle Associates Inc., at an assumed milling rate of 20,000 tonnes per day and a mill recovery of 94% (see “Preliminary Economic Assessment of the Heap Leach Operation on the Beartrack Arnett Gold Project, Lemhi County, Idaho, USA – NI 43-101 Technical Report”, dated December 17th, 2020).
“Joss represents a catalytic opportunity to potentially boost gold production and/or reduce the assumed mill throughput and the associated capital cost of constructing a future milling operation at Beartrack-Arnett. Based on current, widely spaced drilling, our team is excited about the high-grade, continuity and the overall dimensions of the Joss target. The target extends for one kilometer of strike with potentially underground mineable widths of 1 – 5 meters, has been drill tested to a depth of 500 meters and remains open on strike and at depth,” said Hugh Agro, Revival Gold, President & CEO.
Drilling by contractor Major Drilling America, Inc. is underway and will continue in the Joss area until early August. A map showing the location of the planned drill holes at Joss is presented in Figure 1.
Revival Gold will mobilize a second drill rig in June to resume drilling at the higher elevation Haidee open pit oxide gold target, where drilling will consist of an additional 2,500 meters of core drilling to upgrade and expand on the current Mineral Resource.
$Revival Gold will also complete geotechnical and hydrological
engineering holes this season in preparation for the completion of a
Pre-Feasibility Study in 2022 on the first phase restart of Beartrack-
Arnett heap leach operations.
Figure 1: Plan View of 2,500 Meter Drill Program at Joss
Qualified Person
Steven T. Priesmeyer, C.P.G., Vice President Exploration, Revival Gold Inc., 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 Inc. is a growth-focused gold exploration and development company. The Company is advancing the Beartrack-Arnett Gold Project located in Idaho, USA.
Beartrack-Arnett is the largest past-producing gold mine in Idaho. A Preliminary Economic Assessment has been completed for a first phase restart of heap leach operations to produce 72,000 ounces of gold per year over an initial seven-year mine life at an AISC of $1,057 per ounce of gold. Meanwhile, exploration continues, focused on expanding the current Indicated Mineral Resource of 36.6 million tonnes at 1.15 g/t gold containing 1.36 million ounces of gold and Inferred Mineral Resource of 47.1 million tonnes at 1.08 g/t gold containing 1.64 million ounces of gold. The mineralized trend at Beartrack extends for over five kilometers and is open on strike and at depth. Mineralization at Arnett is open in all directions.
For further details, including key assumptions, parameters and methods used to estimate the Mineral Resources, and data verification, please see the Company’s NI 43-101 compliant technical report titled, “Preliminary Economic Assessment of the Heap Leach Operation on the Beartrack Arnett Gold Project, Lemhi County, Idaho, USA – NI 43-101 Technical Report”, dated December 17th, 2020.
Revival Gold has approximately 71.2 million shares outstanding and had an estimated cash balance of C$7.4 million on March 31st, 2021. Additional disclosure including the Company’s financial statements, technical reports, news releases and other information can be obtained at
http://www.revival-gold.com
or on SEDAR at www.sedar.com.
For further information, please contact:
Hugh Agro, President & CEO or Lisa Ross, CFO
Telephone: (416) 366-4100 or
Email: info@revival-gold.com
Cautionary Statement
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Technical information in this news release has been reviewed and approved by Steven T. Priesmeyer, C.P.G., Vice President Exploration, Revival Gold Inc., and Mr. Rodney A. Cooper, P.Eng., a consultant to the Company, Qualified Persons within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
This News Release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company, or management, expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company’s intentions regarding its objectives, goals or future plans and statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the Company’s ability to predict or counteract the potential impact of COVID-19 coronavirus on factors relevant to the Company’s business, failure to identify additional mineral resources, failure to convert estimated mineral resources to reserves with more advanced studies, the inability to eventually complete a feasibility study which could support a production decision, the preliminary nature of metallurgical test results may not be representative of the deposit as a whole, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
https://revival-gold.com/revival-gold-resumes-drilling-the-high-grade-joss-target/
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NYBob
4 years ago
Revival Gold To Drill 5,000 Meters,
Commence Engineering And Environmental Work
https://revival-gold.com/revival-gold-to-drill-5000-meters-commence-engineering-and-environmental-work/
Toronto, ON – March 22nd, 2021 – Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold” or the “Company”), announces details of the Company’s planned 2021 field program for the past-producing Beartrack-Arnett Gold Project (“Beartrack-Arnett”) located in Idaho, USA.
Highlights
5,000 meters of exploration, infill, and engineering drilling. Drilling to commence in May on the Joss high-grade target. A second rig is expected to start drilling in June on the Haidee oxide target;
Wood has been appointed to commence an updated Mineral Resource estimate incorporating 2020 and 2021 drilling, targeted for completion in Q1 2022;
SGS Canada Inc.’s Lakefield Lab has been selected to conduct column leach and other metallurgical test work under the direction of Wood; and
KC Harvey Environmental, LLC has been appointed to initiate supplemental baseline environmental studies with team member Opal Adams serving in an ongoing capacity as the Company’s Permitting Specialist.
In addition, Revival Gold is
Undertaking a detailed evaluation of oxidized, near-surface mineralization in historical reverse circulation drill holes in the Romans Trench target area, located approximately three kilometres south-east of the Haidee target area. Drill intercepts include 1.90 g/t gold over 21 meters and 1.95 g/t gold over 18 meters; and,
Assessing potential new exploration opportunities on cross-fault structures with ongoing computer modeling and artificial intelligence applications by Mira Geoscience Ltd., field mapping and reconnaissance.
“Following up on last year’s successful Preliminary Economic Assessment and exciting high-grade drilling results at Joss, this year’s activities will focus on critical path field work for the potential restart of heap leach gold production from existing infrastructure at Beartrack-Arnett. Meanwhile, we will continue to drill to build on the quality and quantity of the project’s already impressive mineral endowment. Revival Gold’s 2021 work plan will set the foundation for an early 2022 mineral resource update, a Pre-Feasibility Study, and a late 2022 potential decision to proceed with the first phase restart of gold production at Beartrack-Arnett,” said Hugh Agro, President & CEO.
Qualified Persons
Steven T. Priesmeyer, C.P.G., a QP and Vice President Exploration for the Company, and Mr. Rodney A. Cooper, P.Eng., a QP and a consultant to the Company, are the Company’s designated Qualified Persons for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects and have reviewed and approved its scientific and technical content.
About Revival Gold Inc.
Revival Gold Inc. is a growth-focused gold exploration and development company. The Company is advancing the Beartrack-Arnett Gold Project located in Idaho, USA.
Beartrack-Arnett is the largest past-producing gold mine in Idaho. A Preliminary Economic Assessment has been completed for a first phase restart of heap leach operations to produce 72,000 ounces of gold per year over an initial seven-year mine life at an AISC of $1,057 per ounce of gold. Meanwhile, exploration continues, focused on expanding the current Indicated Mineral Resource of 36.6 million tonnes at 1.15 g/t gold containing 1.36 million ounces of gold and Inferred Mineral Resource of 47.1 million tonnes at 1.08 g/t gold containing 1.64 million ounces of gold. The mineralized trend at Beartrack extends for over five kilometers and is open on strike and at depth. Mineralization at Arnett is open in all directions.
For further details, including key assumptions, parameters and methods used to estimate the Mineral Resources, and data verification, please see the Company’s NI 43-101 compliant technical report titled, “Preliminary Economic Assessment of the Heap Leach Operation on the Beartrack Arnett Gold Project, Lemhi County, Idaho, USA – NI 43-101 Technical Report”, dated December 17th, 2020.
Revival Gold has approximately 71.2 million shares outstanding and had a cash balance of approximately C$9.1 million on December 31st, 2020. Additional disclosure including the Company’s financial statements, technical reports, news releases and other information can be obtained at www.revival-gold.com or on SEDAR at www.sedar.com.
For further information, please contact:
Hugh Agro, President & CEO or Lisa Ross, CFO
Telephone: (416) 366-4100 or Email: info@revival-gold.com
Cautionary Statement
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Technical information in this news release has been reviewed and approved by Steven T. Priesmeyer, C.P.G., Vice President Exploration, Revival Gold Inc., and Mr. Rodney A. Cooper, P.Eng., a consultant to the Company, Qualified Persons within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
This News Release includes certain “forward-looking statements” any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
https://revival-gold.com/
NYBob
4 years ago
Revival Gold Delivers Solid Phase One Preliminary Economic Assessment
72,000 ounces gold per year at $1,057 per ounce AISC with a 25% after-
tax IRR
Click to view a PDF of this release
Toronto, ON – November 17th, 2020 –
Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold” or the “Company”), a growth-focused gold exploration and development company, is pleased to announce positive results from a Preliminary Economic Assessment (“PEA”) on the Company’s Beartrack-Arnett (“Beartrack-Arnett”) phase one heap leach gold project located in Idaho, USA.
Beartrack-Arnett Phase One Heap Leach Gold Project – PEA Highlights*
Production of 72,000 ounces of gold per year for a total of 506,000 ounces of gold over an initial seven-year mine life;
Pre-production capital of $100 million and life-of-mine (“LOM”) sustaining capital of $61 million;
Total cash cost of $809 per ounce and all in sustaining cost of $1,057 per ounce of gold;
After-tax NPV at a 5% discount rate (“NPV5%”) of $88 million and after-tax IRR of 25% at $1,550 per ounce gold increasing to a $211 million NPV5% and 49% IRR at $1,950 per ounce gold;
After-tax payback period of 3.0 years;
Lower technical and execution risk of a brownfields project with existing infrastructure and recent history as the largest past-producing gold mine in Idaho; and,
Excellent additional exploration potential as demonstrated by this season’s drill results and with over 10km of favorable geological structure to explore.
* All amounts shown are in United States dollars and metric units of measurement unless otherwise stated.
This PEA is preliminary in nature; it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
For the purposes of this phase one PEA, only oxide and partially oxidized mineralization amenable to gold recovery using standard cyanide heap leach processing was evaluated representing less than a third of available mineralized material. Beartrack-Arnett also hosts a significant sulfide resource, much of which was not included in this PEA.
“This PEA supports Revival Gold’s plans to resume meaningful heap leach gold production from Beartrack-Arnett with low re-start capital and robust economics,” commented Hugh Agro, President and CEO. “Beartrack-Arnett ranks as one of the largest independently-owned undeveloped gold deposits in the United States. As a brownfield site, Beartrack-Arnett offers significant existing baseline environmental data, infrastructure, and operating history for Revival Gold to utilize. This should translate into shorter permitting timelines and lower technical and execution risk. Over the course of the next two years Revival Gold will continue with its exploration strategy to expand the resource base at Beartrack-Arnett while progressing the first phase heap leach project towards a production decision. We also intend to evaluate the potential for a second phase sulfide milling project so that we might fully realize the inherent value of all the gold resources identified at Beartrack-Arnett to-date.”
The PEA was prepared in accordance with National Instrument 43-101 (“NI 43-101”) by Wood plc (“Wood”) of Oakville, Canada and Boise, Idaho with an effective date of November 17th, 2020. The Company will file a technical report summarizing the PEA on www.revival-gold.com and on SEDAR at www.sedar.com in accordance with NI 43-101 within 45 days.
Conference Call
Management will host a conference call later today to discuss the results of the PEA. Call-in information below:
Scheduled Start: November 17th, 2020, 10:00 am EST
Call-In Number: 416-764-8658
Toll Free in North America: 888-886-7786
A replay of the conference call will be available for one week at 416-764-8691 or toll free in North America at 877-674-6060. Playback passcode 347502#.
Further Details
Table 1 below summarizes the key PEA technical and financial inputs and results.
Table 1 – Technical Inputs and Financial Assumptions
https://revival-gold.com/revival-gold-delivers-solid-phase-one-preliminary-economic-assesment/
https://revival-gold.com/
Goldman Sachs says the gold rally is just getting started — and sees a surge of more than 20% next year
'The structural bull market for gold is not over and will resume next year as inflation expectations move higher, the US dollar weakens and EM retail demand continues to recover'
A worker hold a 20 kilogram gold brick at the ABC Refinery in Sydney. David Gray/Getty Images
By Brengre Sim
Friday November 13, 2020 12:29 pm
The bull market for gold is not over, Goldman Sachs analysts said, and the gold market will likely follow the same path as it did after the global financial crisis in 2008.
In the 13 November note, analysts Mikhail Sprogis and Jeffrey Currie said: “The structural bull market for gold is not over and will resume next year as inflation expectations move higher, the US dollar weakens and EM retail demand continues to recover.”
“Near...
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Golden Cross
5 years ago
Revival Gold Drilling Continues to Expand Oxide Gold Target at Arnett
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September 26, 2019 07:30 ET | Source: Revival Gold Inc.
photo-release
Figure 1
Figure 1
Arnett Haidee Area Drill Results (September 26th, 2019)
Revival Gold Inc.
Figure 2
Figure 2
Preliminary Arnett Haidee Cross-Sectional Interpretation (September 26th, 2019)
Revival Gold Inc.
TORONTO, Sept. 26, 2019 (GLOBE NEWSWIRE) -- Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold” or the “Company”), a growth-focused gold exploration and development company, announces the release of a further nine holes from its summer 2019 core drilling program at the former producing Beartrack Gold Project (“Beartrack”) and the adjacent Arnett Gold Project (“Arnett”) located in Lemhi County, Idaho.
Results released below include six core holes drilled in the Haidee target and three core holes drilled in the Haidee West target at Arnett. All six holes drilled in the Haidee target intersected near-surface oxide mineralization, primarily along the northern flank of the Haidee gold system. Two of the three holes drilled in the Haidee West target intersected near-surface sulfide mineralization.
Highlights
0.44 g/t Au over 16.8 meters¹ and 1.95 g/t Au over 20.0 meters¹ in AC19-27D
0.44 g/t Au over 18.3 meters¹ in AC19-28D
0.64 g/t Au over 30.2 meters¹ and 0.72 g/t over 11.3 meters¹ in AC19-29D
0.42 g/t Au over 15.8 meters¹ in AC19-30D
¹ Drilled width; true width estimated to be approximately equivalent to drilled width.
“We continue to expand the footprint of near-surface oxide gold mineralization in the Haidee target area at Arnett – this time along the northern flank,” said Hugh Agro, President & CEO. “Results from the final six holes drilled in this summer’s program will be released in the coming weeks and an updated resource estimate for the entire Beartrack-Arnett Gold Project is expected in the first quarter next year.”
Details
Revival Gold completed a 25-hole core drilling program on the Beartrack-Arnett project in early September. Three holes were targeted in the Joss area at Beartrack and results were released on July 29, 2019.
The balance of 22 drill holes were targeted on the Haidee and Haidee West areas at Arnett. The first seven holes targeted the Haidee area and intersected oxide gold mineralization in moderately altered and/or faulted granite. Results were released on September 3, 2019.
Drill holes AC19-22D and AC19-26D to 30D released today are from the Haidee target area at Arnett and intersected oxide gold mineralization in altered and/or faulted granite. The remaining three holes released today, AC19-32D to 34D, were drilled in the Haidee West target area. Two encountered mineralization hosted by altered granite while the third encountered no significant mineralization.
Although the mineralized intercepts from Haidee West are consistent with those encountered in the main Haidee target in terms of grade and width, gold generally occurs in association with unoxidized pyrite. Further interpretation of controls on mineralization and faulting in the two areas is underway.
Summary assay results from drill holes released today are presented in the table below:
Hole
Number Area Azimuth
(deg.) Dip
(deg.) From
(m) To
(m) Drilled
Width¹
(m) Fire Assay
Gold Grade
(g/t)
AC19-22D Haidee 63 -76 26.8 37.5 10.7 0.39
33.1 37.5 4.4 0.66
AC19-26D Haidee 62 -61 18.9 20.8 1.8 0.93
112.0 117.5 5.5 1.94
136.9 139.6 2.7 0.59
AC19-27D Haidee 63 -61 39.0 45.2 6.2 0.34
81.7 98.5 16.8 0.44
118.4 138.4 20.0 1.95²
Incl. 122.8 124.4 1.5 20.4
AC19-28D Haidee 64 -61 4.0 22.3 18.3 0.44
48.2 71.0 22.9 0.34
116.7 140.9 24.2 0.34
AC19-29D Haidee 65 -61 5.5 17.7 12.2 0.30
95.4 106.7 11.3 0.72
115.2 145.4 30.2 0.64
AC19-30D Haidee 272 -50 114.7 128.4 13.7 0.36
144.8 160.6 15.8 0.42
174.4 175.9 1.5 3.97
AC19-32D Haidee West 235 -65 90.2 114.6 24.4 0.98
Incl. 101.2 105.1 3.9 3.35
AC19-33D Haidee West 239 -46 93.3 106.4 13.1 1.58
Incl. 96.9 99.2 2.3 6.06
AC19-34D Haidee West 197 -51 No significant results
¹ True width estimated to be approximately equivalent to drilled width. Numbers may not add up due to rounding.
² If the 20.4 g/t Au sample in this interval (1.5m drilled width) was cut to 12.0 g/t Au (based on an analysis of a cumulative frequency plot of drill results from the main Haidee area) the grade of this interval would be 1.31 g/t Au.
Figure 1, Arnett Haidee Drill Results, is a plan map showing the location of 33 core holes completed in the Haidee area at Arnett to-date. These include core holes drilled by Meridian Gold Inc. in 1997 (ACDD-series holes) and by Revival Gold in 2018 (AC18-series holes) and in 2019 (AC19-series holes).
A further six core holes in the Haidee and Haidee West areas have been drilled in connection with Revival Gold’s summer 2019 drilling program. Results are pending. The approximate locations of these additional holes are also shown in Figure 1.
Figure 2, Preliminary Arnett Haidee Area Cross-Sectional Interpretation, is a preliminary cross-sectional interpretation looking north-west along strike through the main body of the known gold system at Arnett.
Revival Gold expects to complete an updated resource estimate for Beartrack-Arnett in the first quarter of 2020.
QA/QC Program
Quality Assurance/Quality Control consists of the regular insertion of duplicates, blanks and certified reference materials into the sample stream. Check samples will be submitted to an umpire laboratory at the end of the drilling program. Sample results are analyzed immediately upon receipt and all discrepancies are investigated. Samples are submitted to the ALS Minerals sample preparation facility in Elko, Nevada. Gold analyses are performed at the ALS Minerals laboratory in Reno, Nevada and multi-element geochemical analyses are completed at the ALS Minerals laboratory in Vancouver, British Columbia. ALS Minerals is an ISO 17025:2005 accredited lab.
Sample preparation for Beartrack consists of crushing the sample to 70% less than 2mm and pulverizing 250 grams to better than 85% passing 75 microns (PREP-31) while sample preparation for Arnett consists of crushing the sample to 70% less than 2mm and pulverizing 1,000 grams to better than 85% passing 75 microns (PREP-31B). Gold assays are determined by Fire Assay and AAS on a 30-gram nominal sample weight (Au-AA24). For shallow holes targeting leachable mineralization, gold is also determined by cyanide leach with an AAS finish on a nominal 30-gram sample weight (Au-AA13). Multi element geochemical analyses are completed on selected drill holes using the ME-MS 61 method.
Steven T. Priesmeyer, C.P.G., Vice-President Exploration, Revival Gold Inc., is the Company's designated Qualified Person 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 Inc. is a growth-focused gold exploration and development company. The Company has the right to acquire a 100% interest in Meridian Beartrack Co., owner of the former producing Beartrack Gold Project located in Lemhi County, Idaho. Revival Gold also owns rights to a 100% interest in the neighbouring Arnett Gold Project.
In addition to its interests in Beartrack and Arnett, the Company is pursuing other gold exploration and development opportunities and holds a 51% interest in the Diamond Mountain Phosphate Project located in Uintah County, Utah.
Revival Gold currently has approximately 52.5 million shares outstanding and had a working capital balance of approximately $3.7 million as at June 30, 2019. Additional disclosure of the Company’s financial statements, technical reports, material change reports, news releases and other information can be obtained at www.revival-gold.com or on SEDAR at www.sedar.com.
For further information, please visit www.revival-gold.com or contact:
Hugh Agro, President & CEO or Adam Rochacewich, CFO
Telephone: (416) 366-4100 or Email: info@revival-gold.com
Cautionary Statement
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s intentions regarding its objectives, goals or future plans and statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Figure 1 accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/039ba29a-57a0-400c-a761-82476004c561
Figure 2 accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/cbf60493-4fd3-4dfd-b02c-f750333b78d3
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