Revival Gold Expands Oxide Gold Target at Arnett Intersects 1 g/t Au over 60 meters and 0.9 g/t Au over 66 meters in the Haidee target area
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Revival Gold Expands Oxide Gold Target at Arnett
Intersects 1 g/t Au over 60 meters
and 0.9 g/t Au over 66 meters in the Haidee target area
Toronto, ON – September 3rd, 2019 – Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold” or
the "Company"), a growth -focused gold exploration and development company, announces a second
batch of drill results from its summer 2019 core drilling program at the former producing Beartrack Gold
Project (“Beartrack”) and the adjacent Arnett Gold Project (“Arnett”) located in Lemhi County, Idaho.
Results released below cover seven core holes drilled in the Haidee target area at Arnett. All seven holes
intersected near-surface oxide mineralization along the southern flank of the gold system, first drilled
by Revival Gold in late 2018.
Highlights
• 0.99 g/t Au over 60.5 meters1 including 2.42 g/t Au over 16.9 meters1 in AC19-19D
• 0.88 g/t Au over 66.3 meters1 including 1.36 g/t Au over 18.0 meters1 in AC19-21D
• 1.14 g/t Au over 30.9 meters1 including 1.74 g/t Au over 14.1 meters1 in AC19-23D
• 0.49 g/t Au over 29.5 meters1 including 0.87 g/t Au over 8.4 meters1 in AC19-25D
1 Drilled width; true width estimated to be approximately equivalent to drilled width.
“Today’s results expand the area of oxide mineralization along the southern flank of the 400-meter-long
gold target at Haidee first drilled by Revival Gold in late 2018” said Hugh Agro, President & CEO. “ The
system remains open. Assays are pending for a further 15 core holes drilled at Haidee and Haidee West
and Revival Gold is moving aggressively to complete an updated resource estimate for Beartrack-Arnett
in the first quarter of next year.”
2019 Drilling Program
Revival Gold initiated its summer 2019 core drilling program at Beartrack with one rig in late May and
added a second rig at Arnett in the Haidee area in early June. Upon completion of drilling at Beartrack
in July, the Beartrack rig was moved to Arnett to help complete drilling in the Haidee area.
All planned drill holes in the current program at both Beartrack and Arnett are now complete. A total of
approximately 5,100 meters were drilled in 25 holes on budget and ahead of schedule.
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The first three holes drilled this year confirmed the continuity and extension of the mineralized gold
trend in the Joss area at Beartrack . Results were released on July 29 th, 2019 . The seven drill holes
released today ( AC19-18D through AC19 -21D and AC19 -23D through AC19 -25D) successfully targeted
an expansion of the area of oxide gold mineralization first drilled by Revival Gold in the Haidee area at
Arnett in 2018.
All seven drill holes intersect ed gold mineralization in moderately altered and/or faulted granite. An
interpretation of local controls on mineralization and faulting in the Haidee area is underway. Summary
assay results from drill holes released today are presented in the table below:
Hole
Number
Area
Azimuth
(deg.)
Dip
(deg.)
From
(m)
To
(m)
Drilled
Width1
(m)
Fire Assay
Gold Grade
(g/t)
AC19-18D Haidee 64 -50 46.0 50.9 4.9 1.48
AC19-19D2 Haidee 58 -57 52.7 64.4 11.7 1.84
89.7 150.3 60.5 0.99
Incl. 95.3 112.2 16.9 2.42
AC19-20D Haidee 60 -59 7.2 60.1 52.8 0.40
Incl. 32.6 34.0 1.4 8.34
AC19-21D Haidee 63 -50 4.6 70.9 66.3 0.88
102.5 115.9 13.4 0.79
AC19-23D Haidee 69.5 78.2 8.7 0.54
102.6 133.5 30.9 1.14
Incl. 102.6 116.7 14.1 1.74
and 127.2 133.5 6.3 1.63
AC19-24D Haidee 68 -82 41.9 45.0 3.1 2.37
AC19-25D Haidee 62 -69 26.3 55.8 29.5 0.49
Incl. 26.3 34.8 8.4 0.87
1 True width estimated to be approximately equivalent to drilled width. Numbers may not add up due to
rounding.
2 Recovery for the interval 125.9 meters to 127.5 meters was 46%.
Figure 1, Arnett Haidee Drill Results, is a plan map showing the location of the 24 core holes completed
in the Haidee area at Arnett to-date. These include core holes drilled by Meridian Gold Inc. in 1997
(ACDD-1 through ACDD -11) and by Revival Gold in 2018 (AC18-12D through AC18 -17D) and in 2019
(AC19-18D through AC19-21D and AC19-23D through AC19-25D).
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A further 15 core holes have been drilled in the Haidee and Haidee West areas in connection with Revival
Gold’s summer 2019 drill program. The approximate locations of these holes are also shown in Figure 1.
Assay results are pending.
Other Exploration and Development Activities
Revival Gold released key results from a 404 line -kilometer aeromagnetic geophysics survey and
interpretation undertaken on Arnett and Beartrack on August 12, 2019. The aeromagnetic data from
Arnett was merged with historical aeromagnetic data from the Beartrack property to create a complete
picture of the geology on Revival Gold’s Beartrack-Arnett land position.
The Company also recently completed a 12 square-kilometer soil sampling program on a 100 meter by
150-meter grid at Arnett. Geological mapping, geophysics and results from the soil sampl ing program
will be used to further develop and refine both new and old drill targets.
A second phase of metallurgical test work on sulphide material from Beartrack has begun under the
direction of the Company’s lead technical consultant, Roscoe Postle Associates Inc. (“RPA”). Sample
material is being composited and tested under RPA’s direction at SGS Canada Inc. in Vancouver, Canada.
The focus of this year’s metallurgical testing at Beartrack will be on optimizing flotation results while
maintaining recovery. The program will also further assess methods for recovering gold from flotation
concentrate, including ultra-fine grinding and pressure oxidation.
Initial bottle roll testing of the mineralized material at Arnett will be undertaken later this year to validate
historical metallurgical test results obtained in the 1990’s by Kappes Cassiday & Associates.
Complete results from Revival Gold’s 2019 metallurgical test programs are expected by the end of 2019.
In addition to the activities summarized above, Revival Gold and its consultant, RPA, are compiling and
analysing 2018 and 2019 drill data to prepare for an update to the May 2018 Beartrack Mineral Resource
Estimate. The updated resource estimate is expected to be completed in the first quarter of 2020 and
will cover the combined Beartrack-Arnett project area.
QA/QC Program
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 Global (“ALS”) sample preparation
facility in Elko, Nevada. Gold analyses are performed at the ALS laboratory in Reno, Nevada and multi-
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element geochemical analyses are completed at the ALS laboratory in Vancouver, British Columbia. ALS
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 oxide 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 Di amond 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 30th, 201 9. 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.
For further information, please visit www.revival-gold.com or contact:
Hugh Agro, President & CEO or Adam Rochacewich, CFO
Telephone: (416) 366-4100
Email: [email protected]
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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 t he adequacy or accuracy of this news
release.
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 e ffect 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”, “would”, “will”, or “plan”. Since
forward-looking statements are based on assumptions and address future events and conditions, by
their very nature 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 not limited to,
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 risks, uncertainties relating to the av ailability 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 ti me 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.
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Figure 1 – Arnett Haidee Area Drill Results (September 2019)