Revival Gold Inc. (TSX-V: RVG) (OTCQB: RVLGF) 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 and the adjacent Arnett Gold Project 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.
“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.”
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:
|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.
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.
Figure 1 accompanying this announcement is available at:
Figure 2 accompanying this announcement is available at:
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