Revival GOLD Intersects 0.94 G/T GOLD over 54 Meters at Arnett and 20.1 G/T GOLD over 2.1 Meters at Beartrack
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REVIVAL GOLD
INTERSECTS 0.94 g/t GOLD OVER 54 METERS AT ARNETT AND
20.1 g/t GOLD OVER 2.1 METERS AT BEARTRACK
Toronto, ON – January 14th, 2019 – Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold”
or the "Company"), 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 (“Beartrack”) gold projects located in Lemhi County, Idaho.
Highlights
AC18-16D and AC18-17D in the Haidee area at Arnett intersected 0.64 g/t Au over 15.3
meters1 and 0.94 g/t Au over 54.3 meters1, respectively;
BT18-221D in the Joss area at Beartrack intersected 20.1 g/t Au over 2.1 meters 1 within
6.65 g/t Au over 8.2 meters1; and,
BT18-222D in the South Pit area at Beartrack intersected 1.79 g/t Au over 16.3 meters1.
1 Drilled width; estimates of true width and down-hole positions of mineralization are presented in the
table below.
“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.”
Details
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:
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Hole
Number
Area
Azimuth
(deg.)
Dip
(deg.)
From
(m)
To
(m)
Drilled
Width
(m)
Est. True
Width1
(m)
Fire Assay
Gold Grade
(g/t)
AC18-16D2 Haidee 065 -55 15.3 30.6 15.3 15.3 0.64
Incl. 23.4 23.7 0.4 0.4 15.4
72.5 94.6 22.1 22.1 0.48
Incl. 86.3 86.9 0.6 0.6 5.03
112.9 124.8 11.9 11.9 0.66
Incl. 122.8 124.8 2.0 2.0 2.35
AC18-17D Haidee 065 -55 42.2 48.2 5.9 5.9 0.96
57.3 70.1 12.8 12.8 2.37
Incl. 69.3 70.1 0.8 0.8 21.0
92.4 146.6 54.3 54.3 0.94
Incl. 138.1 143.6 5.5 5.5 3.53
BT18-221D3 Joss 300 -50 377.6 385.9 8.2 n/a 6.65
Incl. 383.7 385.9 2.1 n/a 20.1
393.5 396.2 2.7 n/a 2.97
BT18-222D South Pit 300 -50 626.2 642.5 16.3 9 1.79
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 miner al 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 interval s 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 immediat ely 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 metall ic 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.
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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.
QA/QC Program
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.
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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 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.
For further information, please visit www.revival-gold.com or contact:
Andrea Totino, Investor Relations Manager, Tel: (416) 366-4100, 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.
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 prov ides 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 objectives, goals
or future plans, statements, exploration results, potential mineralization, the estimation of
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mineral resources, exploration and mine development plans, timing of the commencement of
operations and estimates of market conditions. Factors that could cause actual results to differ
materially from such forward -looking information in clude, 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 t est results, delays in obtaining or failures to obtain required
governmental, environmental or other project approvals, political risks, uncertainties relating to
the availability and costs of financing needed in the future, changes in equity markets, infl ation,
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.
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Figure 1 – Arnett Project Haidee Area Plan View (January 14th, 2019)
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Figure 2 - Beartrack Project Block Model Long Section North-West View (January 14th, 2019)