Revival Gold Inc. (TSXV: RVG | OTCQX: RVLGF) has announced the results of an updated mineral resource estimate on the company’s Beartrack-Arnett Gold Project located in Idaho, U.S.
The updated Mineral Resource was completed by Wood plc based on drill results through the end of 2021 and contains an Indicated Mineral Resource of 65.0Mt at 1.01 g/t gold containing 2.11Moz of gold, a significant increase of 56% over the previously released indicated Mineral Resource. Similarly, an inferred Mineral Resource of 46.2Mt at 1.31 g/t gold containing 1.94Moz of gold was reported, also an increase of 19% over the 2020 Inferred Mineral Resource.
Within the Indicated Mineral Resource, open pit heap leach contained gold increased by 49% and open pit mill contained gold increased by 58%. Revival has stated that the upgrade in Indicated Mineral Resources provides increased confidence in the quality of the resource and will help facilitate planned completion of a preliminary feasibility study on the potential restart of gold production at Beartrack-Arnett.
Drilling in the company’s Joss Zone over the past two years has increased Mineral Resources in this area and supports a more robust cut-off grade (2.2 g/t gold) for the underground mill component of Mineral Resources at Beartrack-Arnett.
As a result, the average grade in the underground Inferred Mineral Resource has increased 39% over the 2020 Inferred Mineral Resource to 3.05 g/t gold in a bulk minable long-hole mining scenario. Revival Gold anticipates follow-up drilling on high-grade intercepts at Joss to further enhance the underground resource model.
Mineralization at Beartrack remains open along strike and at depth and the mineralization at Arnett remains open in all directions. Exploration continues with 7,000m of planned drilling scheduled to begin later this month.
“Today’s 56% growth in Indicated Resources and 19% increase in Inferred Resource represents an impressive step forward in both the size and quality of resources at Beartrack-Arnett,” said Hugh Agro, Revival’s president and CEO.
“Revival Gold’s technical progress over the past two years validates our confidence in project geology and the potential we see for Beartrack-Arnett to continue to grow.
“Today’s news bodes well for work already underway on a PFS to resume gold production utilizing existing infrastructure and it builds on Revival Gold’s understanding of additional potential future development alternatives,” he said.
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