Revival GOLD Doubles Planned Drilling Program at Beartrack-Arnett
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REVIVAL GOLD DOUBLES
PLANNED DRILLING PROGRAM AT BEARTRACK-ARNETT
Toronto, ON – August 19th, 2020 – Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold”
or the “Company”), a growth‐focused gold exploration and development company, is pleased to
announce a significant expansion to the planned drilling program this year at the Company’s
Beartrack-Arnett Gold Project (“Beartrack-Arnett”) located in Lemhi County, Idaho.
Highlights
• The i nitial 5,000 -meter core drilling program with Boart Longyear Limited at Beartrack -
Arnett has been expanded to 10,000 meters and now includes four target areas;
• Drilling in the Haidee area at Arnett will include 3,000 meters (10 -15 holes) of resource
expansion drilling along strike from the existing Arnett Mineral Resource and an additional
2,000 meters (8 -10 holes) of infill drilling to expand and upgrade the Inferred resource at
Haidee;
• Drilling in the previously untested Rabbit area will help establish the scale of the mineralized
system at Beartrack beyond its current 5.6 -kilometer strike with approximately 2,000
meters (2-4 holes) of drilling. Targets are located two and three kilometers south and on
trend of the existing Beartrack Mineral Resource;
• Drilling in the Joss area will follow up on prior high -grade gold intercepts in drill hole BT18-
211 (see details below) and test the area between the North Pit and South Pit areas with a
total of approximately 3,000 meters (4-6 holes); and,
• In addition to expanding the planned drilling campaign , Revival Gold has expanded its
planned geophysics program to 21 line-kilometers of gradient array induced polarization -
resistivity (“IP-RES”) at Haidee, 13 line -kilometers of gradient array IP -RES at Joss and five
line-kilometers of dipole-dipole IP-RES at Rabbit.
“Revival Gold has ramped up to complete the biggest exploration program to be undertaken at
Beartrack-Arnett since the 1990’s,” said Hugh Agro, President & CEO. “We will spend approximately
$6 million on exploration and we will test several potential game-changing targets on the project.
At the same time, we expect to deliver a Preliminary Economic Assessment on the existing open pit
heap leachable resource before year-end and will advance other technical study work on both heap
leach and mill material as recommended in the company’s February 2020 Technical Report.”
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Expanded 2020 Exploration Program
Last month Revival Gold mobilized Boart Longyear Limited for an initial 5,000-meter core drilling
program at Beartrack -Arnett. Subsequently, following the close of the Company’s recent $15
million equity financing, Revival Gold’s Board of Directors approved an expanded program of 10,000
meters of core drilling.
The 10,000 meter 2020 drilling program is intended to expand the leachable resource in the Haidee
area at Arnett along strike in both directions, upgrade the 2020 Inferred resource at Haidee to an
Indicated category and continue to build the scale of the known gold system at Beartrack beyond
its current 5.6 kilometer known strike with drilling in three locations . The program will consist of
approximately 5,000 meters of drilling at Arnett and 5,000 meters at Beartrack. An overview of all
planned 2020 drill hole collar locations is depicted in Figure 1 below.
Figure 1: Overview of 2020 Planned Drill Hole Locations
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Of the 5,000 meters of core drilling planned for Arnett, an estimated 3,000 meters (10-15 holes) is
designated for resource expansion. Resource expansion drilling will be completed along strike in
both directions and up -dip of the current resource in the Haidee area . Resource expansion drill
holes will be drilled to an approximate depth of 150 meters on 60 meter spacing.
The remainder of the planned Arnett drilling (approximately 2,000 meters in 8-10 holes) is infill
drilling intended to upgrade the 2020 Inferred resource at Haidee to the Indicated category .
Resource upgrade infill drill holes will be drilled to an approximate depth of 150 meters on 30 meter
spacing. All planned 2020 Arnett drill holes in the Haidee area are approved for drilling.
Figure 2 below is a plan view of the Arnett Haidee area and this year’s planned drilling in the area.
Figure 2: Arnett Haidee Area Drill Program
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In addition to drilling at Arnett, Revival Gold’s 2020 drill program will include 5,000 meters of core
drilling targeted to continue to build on the scale of mineralization at Beartrack. The current targets
of greatest exploration interest at Beartrack are in the Rabbit area, the southern end of the Joss
area and between the North and South Pit. Figure 3 illustrates the planned program at Beartrack
in the Rabbit and Joss areas.
Figure 3: Beartrack Rabbit and Joss Areas Drill Program
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The Rabbit area has been targeted by Revival Gold based on an airborne magnetics anomaly and
property-wide mapping. This undrilled target area is located beneath post-mineralization cover and
represents a high value opportunity given its position within, or proximity to, the Panther Creek
Shear Zone (“PCSZ”) and its intersection with interpreted cross faulting structures such as the
Coiner Fault. Structural intersections represent attractive exploration targets because they are
areas of increased rock fracturing, which is favorable for the flow of hydrothermal fluids that can
deposit minerals such as gold. Approximately 2,000 meters (2 -4 holes) are planned in the Rabbit
area.
The target area between the North and South pits lies along the PCSZ between two mineralized
bodies and has largely been untested by drilling at depth.
In the Joss area drilling has been planned to continue to test the southern extension of the existing
Mineral Resource and to follow up several intriguing high-grade gold intersections encountered
east of the PCSZ in core hole BT18-211D (see Table 1 below).
Table 1: BT18-211D Intersections East of the PCSZ
Hole
Number
Area
Azimuth
(deg.)
Dip
(deg.)
From
(m)
To
(m)
Drilled
Width
(m)
Est. True
Width1
(m)
Fire Assay
Gold Grade
(g/t)
BT18-211D Joss 303 -53 102.7 103.9 1.2 0.7 9.29
158.3 159.8 1.5 0.9 6.98
188.5 190.0 1.5 0.9 7.87
198.4 200.9 2.4 1.3 7.48
Incl. 198.4 199.7 1.3 0.7 10.3
217.9 222.1 4.2 2.4 5.37
Incl. 217.9 219.2 1.2 0.7 12.35
Incl. 220.7 221.2 1.4 0.8 4.91
237.1 241.4 4.3 2.4 5.13
Incl. 238.7 239.6 0.9 0.5 12.85
1 True width estimates based on a vertically dipping mineral zone. 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.
The intervals in Table 1 were previously reported in 2018 (press release dated December 4th, 2018)
within broader mineralized intervals but individual high-grade gold intercepts outside the PCSZ are,
at present, poorly understood. Drilling and geophysics (details below) this year are intended to
clarify the relationship of these intervals with respect to the PCSZ.
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Approximately 3,000 meters (4 -6 holes) are planned in the Joss area between the North Pit and
South Pit. These drill holes are all approved for drilling.
In addition to core drilling, Revival Gold is planning a ground geophysical program to follow up
airborne magnetics and soil sampling completed in 2019. The geophysics has been contracted to
Geofisica TMC, S.A. de C.V. under the direction of Revival Gold’s consulting geophysicist Craig
Beasley Ph.D., Wave Geophysics LLC.
At Arnett, two square kilometers (21 line-kilometers) of gradient array IP-RES are proposed for the
Haidee area. The geophysical grid will cover the Haidee resource area, extending to the southeast
into an area known as the Midlands. Much of the area to be covered by the gradient array IP-RES
at Arnett is at least partially covered by post-mineral deposits that obscure surface indications of
mineralization. Gold anomalies identified during Revival Gold’s 2019 soil sampling program suggest
that the mineralized structure at Haidee, and/or structures parallel to it, may continue under the
post-mineral cover. The gradient array IP-RES is intended to identify structures in these covered
areas.
At Beartrack, one square kilometer (13 line -kilometers) of gradient array IP-RES is planned for the
southern end of the Joss resource area. The intention is to identify secondary structures that could
be controlling mineralization at Joss, specifically the higher-grade intersections encountered in hole
BT18-211D east of the PCSZ (see table above).
Two dipole -dipole IP -RES lines (five line -kilometers) are planned over the magnetic low on the
Coiner Fault in the Rabbit area. Dipole-dipole IP-RES lines at Rabbit are intended to identify possible
mineralization at depth and to help estimate the depth to the geophysical target.
Revival Gold has a robust health and safety program which includes a strong policy with respect to
COVID-19. The policy is designed to keep Revival Gold employees and contractors safe as well as
to protect the local community. Revival Gold’s COVID-19 policy includes plans to prevent infection,
to limit the spread of infection should a team member become infected and a contingency plan
should a temporary shutdown be necessary.
Steven T. Priesmeyer, C.P.G., Vice Pre sident 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.
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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 neighboring Arnett Gold Project.
Beartrack-Arnett is the largest past -producing gold mine in Idaho and hosts the second largest
known deposit of gold in the st ate. A Preliminary Economic Assessment is underway on the
potential re-start of a phase one open-pit heap leach operation and exploration continues focused
on expanding the current Indicated Mineral Resource of 36.4 million tonnes at 1.16 g/t gold
containing 1.35 million ounces of gold and Inferred Mineral Resource of 47.2 million tonnes at 1.08
g/t gold containing 1.64 million ounces of gold. The mineralized trend at Beartrack extends for over
5 km and is open on strike and at depth. Mineralization at Arnett is open in all directions. For further
details, including key assumptions, parameters and methods used to estimate the Mineral
Resources, please see the Company’s technical report titled “Technical Report on the Beartrack -
Arnett Gold Project, Lemhi County, Idaho, USA” dated February 21, 2020.
Revival Gold has approximately 70.2 million shares outstanding and a current cash balance of
approximately $14.4 million. Additional disclosure including the Company’s financial statements,
technical reports, news releases and other informatio n can be obtained at www.revival-
gold.com or on SEDAR at www.sedar.com.
For further information, please contact:
Hugh Agro, President & CEO or Adam Rochacewich, CFO
Telephone: (416) 366-4100 or Email: [email protected]
Cautionary Statement
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this news release. Technical information in this news release has been reviewed and approved by
Steven T. Priesmeyer, C.P.G., Vice President Exploration, Revival Gold Inc. a Qualified Person within
the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
This News Release includes certain “forward -looking statements” which are not comprised of
historical facts. Forward-looking statements include estimates and statements that describe the
Company’s future plans, objectives or goals, including words to the effect that the Company, or
management, expects a stated condition or result to occur. Forward -looking statements may be
identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”,
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“would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address
future events and conditions, by their very n ature they involve inherent risks and uncertainties.
Although these statements are based on information currently available to the Company, the
Company provides no assurance that actual results will meet management’s expectations. Risks,
uncertainties and other factors involved with forward -looking information could cause actual
events, results, performance, prospects and opportunities to differ materially from those expressed
or implied by such forward -looking information. Forward-looking information in this news release
includes, but is not limited to, the Company’s intentions regarding its objectives, goals or future
plans and statements. Factors that could cause actual results to differ materially from such forward-
looking information include, but are no t limited to, the Company’s ability to predict or counteract
the potential impact of COVID-19 coronavirus on factors relevant to the Company’s business, failure
to identify mineral resources, failure to convert estimated mineral resources to reserves, the
inability to complete a feasibility study which recommends a production decision, the preliminary
nature of metallurgical test results, delays in obtaining or failures to obtain required governmental,
environmental or other project approvals, political ris ks, uncertainties relating to the availability
and costs of financing needed in the future, changes in equity markets, inflation, changes in
exchange rates, fluctuations in commodity prices, delays in the development of projects, capital,
operating and reclamation costs varying significantly from estimates and the other risks involved in
the mineral exploration and development industry, and those risks set out in the Company’s public
documents filed on SEDAR. Although the Company believes that the assumptions and factors used
in preparing the forward -looking information in this news release are reasonable, undue reliance
should not be placed on such information, which only applies as of the date of this news release,
and no assurance can be given that such events will occur in the disclosed time frames or at all. The
Company disclaims any intention or obligation to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise, other than as required by law.