Revival Gold hits another long intercept of high grades at Beartrack-Arnett

Revival Gold (TSXV: RVG; US-OTC: RVLGF) has reported additional results from its 2022 drilling program at the Beartrack-Arnett gold project located in Idaho’s northeast Lemhi County. Since the start of drilling in June, about 2,900 metres of the planned 5,000-metre program have been completed.

The new results are headlined by drill hole BT22-242D, which intersected 3.49 grams gold per tonne over 115.4 metres, including 10.12 grams gold per tonne over 11.4 metres, at the Joss high-grade target area. This hole was drilled approximately 150 metres deeper than hole BT21-240D from last year’s program, which returned 4.34 grams gold per tonne over 110.6 metres (including 12 grams gold per tonne over 13.7 metres) and 8.8 grams gold per tonne over 11.8 metres.

The latest results, according to Revival Gold, further emphasize the depth potential and scope of mineralization at Beartrack-Arnett.

“We’ve hit another long intercept of high-grade at Joss,” president and CEO Hugh Agro said, highlighting that hole 242D is 150 metres deeper than previous drilling and expands an already impressive body of mineralization.

“The Joss zone currently extends for more than one kilometre in strike and over an average vertical extent of about 500 metres with the average true width of the mineralized zone estimated to be 10-30 metres thick. Further results from Joss are expected before year-end,” he added.

A total of three core holes targeting the depth extension of mineralization at Beartrack-Arnett have now been completed in the 2022 program: two in the Joss area (BT22-241D and BT22-242D) and one in the South Pit area (BT22-243D). The latter hole was intended to extend the trend of higher-grade mineralization at Joss north to South Pit, with assays pending. A fourth core hole is underway at Joss.

In addition to the drilling at Joss, a second core rig is drilling infill and expansion holes in the Haidee oxide target area at Beartrack-Arnett. The first hole, AC22-085D, has been completed with sampling underway.

Located in Lemhi county, Idaho, the 5,800-hectare Beartrack-Arnett property represents the amalgamation of Revival Gold’s 100% owned Arnett gold project and the neighbouring Beartrack gold mine, where it has the right to earn a 100% interest from Yamana Gold (TSX: YRI).

The Beartrack mine was previously operated by Yamana subsidiary Meridian Beartrack from 1994 until 2000, producing approximately 600,000 oz. of gold. During that time, it operated at 13,600 tonnes per day and achieved a life of mine recovery of 88%. The mine subsequently closed at a time when the price of gold dropped below US$300 per ounce.

Today, Beartrack-Arnett is considered the largest past-producing gold mine in the state. Engineering work has been initiated on a preliminary feasibility study for the potential restart of heap leach operations.

Meanwhile, exploration by Revival Gold continues focus on expanding the 2022 mineral resource of 65 million tonnes indicated at 1.01 grams gold per tonne (2.1 million oz. of contained gold) and 46.2 million tonnes inferred at 1.31 grams gold per tonne (1.9 million oz. of contained gold).

The Beartrack-Arnett property hosts gold mineralization over a known trend of 5 km and includes a further 10 km of favourable structure to explore.

Revival Gold shares were trading at 54¢ apiece as of late Friday afternoon in Toronto. Its shares have traded in a 52-week window of 38¢ and 76¢. It has a market cap of $46.9 million.