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Revival Gold Announces Additional Drill Results at Beartrack

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Revival Gold Announces Additional Drill Results at Beartrack

 

 

 

 

 

Revival Gold Inc. (TSXV: RVG) (OTCQB: RVLGF) a growth-focused gold exploration and development company, announces results from four additional holes from its 8,000-meter core drilling program at the former producing Beartrack Gold Project located in Lemhi County, Idaho. In addition, Revival Gold has received permits to commence drilling at the neighbouring Arnett Gold Project.

 

Highlights

 

  • Ongoing drill program continues to intersect gold mineralization beyond the limits of the current Mineral Resource in three target areas at Beartrack
  • Drill hole BT18-214D in the Ward’s Gulch area returned 1.24 g/t Au over 23.3 meters, 1.74 g/t Au over 22.5 meters and 1.80 g/t Au over 19.9 meters1
  • Drill hole BT18-211D in the Joss area returned 2.66 g/t Au over 13.9 meters, 2.16 g/t Au over 15.2 meters, 1.16 g/t Au over 21.3 meters and 1.67 g/t Au over 27.1 meters1
  • Permits received to allow an initial seven-hole 1,000-meter core drilling program at Arnett.  Drilling is expected to commence with a third rig on the Beartrack-Arnett project area in early October.

1 Drilled width; true width estimates are presented in the table below.

 

 

“Revival Gold continues to intersect significant gold mineralization beyond the limits of the current Mineral Resource at Beartrack including at Joss, the South Pit and at Ward’s Gulch”, said Hugh Agro, President & CEO. “Drilling will continue with two rigs on the ongoing program at Beartrack. In addition, we are permitted and expect to add a third drill rig in a new target area (Haidee) at Arnett shortly”.

 

 

Details

 

 

On May 29th, 2018, Revival released a maiden NI 43-101 mineral resource estimate for the Beartrack property. 

 

 

On September 5th, 2018, Revival released results from the first three holes (BT18-207D, BT18-208D and BT18-209D) of its planned 2018 8,000-meter resource expansion core drilling program at Beartrack. These holes were targeted to expand the current open pit-constrained Mineral Resource below, and on strike from, the South Pit area. The holes returned significant widths and grades of mineralization.

 

The four drill holes released today (BT18-210D, BT18-211D, BT18-212D and BT18-214D) were targeted to expand the current open pit-constrained Mineral Resource below, and on strike from, the North Pit and Ward’s Gulch areas as well as in the Joss area where there is currently no Mineral Resource.

 

 

Holes BT18-214D and BT18-211D successfully extended mineralization at depth in the Ward’s Gulch area and encountered several significant mineralized intervals in the Joss area. Holes BT18-210D and BT18-212D intercepted only modest widths of mineralization below the current open pit-constrained Mineral Resource in the North Pit area.

 

 

Mineralization at Beartrack remains open to the south of Joss, north along strike between Joss and the South Pit, north along strike between the South Pit and Ward’s Gulch area and into the North Pit.

 

 

To date in 2018, eleven core holes have been completed at Beartrack for a total of approximately 5,300 meters.  Beyond the holes for which results have been released, additional holes have been completed in the Joss area, between Joss and the South Pit, at the South Pit and at Ward’s Gulch.  Drilling is currently underway in the South Pit and Joss areas.

 

 

Summary assay results from holes released today are presented in the table below:

 

 

Hole
Number

 

Area

 

 

Azimuth
(deg.)

 

Dip
(deg.)

 

From
(m)

 

To
(m)

 

 

Drilled
Width
(m)

 

Est. True
Width1

(m)

 

Fire Assay
Gold Grade
(g/t)

 

 BT18-210D North Pit 301.5 -52.8 161.8 168.7 6.9 4 1.93
        284.4 289.0 4.6 3 2.88
 BT18-212D2 North Pit 304.3 -46.0 99.0 123.4 24.4 16 0.92
 BT18-211D3 Joss 302.6 -52.9 102.7 106.7 4.0 n/a 3.57
        188.5 202.4 13.9 n/a 2.66
        217.9 222.1 4.2 n/a 5.37
        228.0 243.2 15.2 n/a 2.16
        250.9 258.5 7.6 n/a 1.45
        272.2 293.5 21.3 n/a 1.16
        314.9 342.0 27.1 n/a 1.67
BT18-214D4 Ward’s
Gulch
305.0 -57.1 219.5 242.8 23.3 12 1.24
        258.2 280.7 22.5 12 1.74
        295.7 316.1 20.4 10 0.73
        326.7 346.6 19.9 10 1.80

1 True width estimates in the North Pit and Ward’s Gulch areas are based on a vertically dipping mineral zone.  True widths in the Joss area is unknown (n/a) at this time.  Drill holes typically steepen during drilling so the inclination of the drill hole at depth may not be the same as the inclination in the mineralized zone.
2 Recoveries for the intervals 111.1 meters to 112.6 meters and 120.4 meters to 121.9 meters were 50%, 44% and 40% respectively.
3 Recovery for the interval 316.8 meters to 317.3 was 47%.
4 Recoveries for the intervals 227.7 meters to 228.4 meters and 228.4 meters to 230.7 meters were 48% and 0% respectively.  The interval 0% recovery was included at zero grade. 

 

 

Figure 1 illustrates a plan view of the footprint of the current Beartrack Mineral Resource with the location of all completed 2018 drill holes to-date indicated.

 

 

Figure 2 illustrates a long-section view at Beartrack from the north end of the North Pit Zone to the south end of the Joss Zone (approximately 4 kilometers) with the current Mineral Resource block model and the location of all seven holes released to-date this year.

 

 

Drilling will continue at Beartrack through the fall season with all results expected to be released by early 2019.

 

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.

 

 

Gold assays are determined by Fire Assay and AAS on a 30-gram nominal sample weight (Au-AA25).  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 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 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 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 has approximately 42 million shares outstanding and had a cash balance of approximately $4.7 million as at June 30th, 2018.

 

Posted September 20, 2018

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