Revival Gold Inc. (TSX-V: RVG) (OTCQB: RVLGF) a growth-focused gold exploration and development company, announces results from the final four holes of the Company’s 2018 core drill programs at the Arnett (“Arnett”) and adjacent Beartrack gold projects located in Lemhi County, Idaho.
“AC18-16D and AC18-17D, the last and most northerly two holes drilled along strike in the Haidee area during the 2018 program at Arnett, intersected significant widths of near surface oxide gold mineralization,” said Hugh Agro, President & CEO. “At Beartrack, in the Joss area, BT18-221D cut some of the best gold grades encountered on the project to-date. Together, these results underscore the exciting potential and broad scope for follow-up exploration activity we see for Beartrack-Arnett in 2019.”
Results from the final two core holes (AC18-16D and AC18-17D) of the six-hole 2018 program at Arnett and final two core holes (BT18-221D and BT18-222D) from the fifteen-hole 2018 program at Beartrack are presented below:
1 True width is estimates in the Haidee area estimated to be approximately equivalent to drilled width. True width estimates in the South Pit and Ward’s Gulch areas, as well as the area between the South Pit and Joss, are based on a vertically dipping mineral zone. True width in the Joss area is unknown (n/a). Drill holes typically steepen during drilling so the inclination of the drill hole at depth may not be the same as the inclination at the collar. Numbers may not add up due to rounding.
2 Recovery for the interval 122.8 m to 124.6 meters was 40%.
3 Recoveries for the intervals 393.5 meters to 395.0 meters and 395.9 meters to 396.2 meters were 30% and 20% respectively. The intervals immediately below the upper interval and immediately above the lower interval had recoveries of 0%.
Mineralization in the Haidee area at Arnett remains open along strike to the south and north, as well as down dip to the west. Mineralization often occurs as visible native gold within oxidized pyrite which results in highly variable assay values. This nugget effect is present, even when larger samples sizes (two assay-tonne) are used. For this reason, Revival Gold intends to follow-up its conventional two assay-tonne fire assays at Haidee with metallic screen assays of larger-than-normal pulps.
Figure 1 illustrates a plan view at Arnett showing the mineralized envelope in the Haidee area, the eleven core holes drilled by Meridian Gold Inc. in 1997 and the six core holes completed by Revival Gold in 2018.
Mineralization at Beartrack remains open to the south of Joss, north along strike between the South Pit and Ward’s Gulch area and into the North Pit.
Figure 2 illustrates an up-to-date north-west facing long-section view at Beartrack showing the current Beartrack mineral resource block model (see “Mineral Resource Estimate, Beartrack Property, Lemhi County, Idaho, United States”, dated July 12th, 2018, for further details) as well as the location and results of all fifteen drill holes completed at Beartrack in 2018.
A follow-up phase of drilling and metallurgical test work for Beartrack-Arnett is being planned. Revival Gold expects to initiate preparatory work on an updated resource estimate later this year.
Quality Assurance/Quality Control consists of the regular insertion of duplicates, blanks and certified reference standards 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 for the Beartrack Project 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. Sample preparation for the Beartrack Project is using the Prep 31 method, which involves the preparation of a 250-gram pulp.
Gold assays for the Arnett Project are determined by Fire Assay and AAS on a 50-gram nominal sample weight (Au-AA24). For some of the Arnett holes, 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. Sample preparation for the Arnett Project is using the Prep 31B method, which involves the preparation of a 1,000-gram pulp.
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 working capital balance of $2.3 million as at September 30th, 2018. 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.
Photos accompanying this announcement are available at
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