Revival GOLD Intersects 10.1 G/T GOLD over 11.4 Meters Within 3.5 G/T GOLD over 115.4 Meters at Beartrack-Arnett
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REVIVAL GOLD INTERSECTS 10.1 g/t GOLD OVER 11.4 METERS
WITHIN 3.5 g/t GOLD OVER 115.4 METERS AT BEARTRACK-ARNETT
Toronto, ON – September 22nd, 2022 – Revival Gold Inc. (TSXV: RVG, OTCQX: RVLGF) (“Revival
Gold” or the “Company”), is pleased to announce further results from the Company’s 2022 drilling
program at the Beartrack-Arnett Gold Project (“Beartrack-Arnett”) located in Idaho, USA.
Highlights:
• BT22-242D intersected 3.49 g/t gold over 115.4 meters including 10.12 g/t gold over 11.4
meters at Joss 1. This hole was drilled approximately 150 meters deeper than BT21 -240D,
which intersected 4.34 g/t gold over 110.6 meters drilled width, including 12 g/t gold over
13.7 meters, a nd 8.8 g/t gold over 11.8 meters (see Revival Gold press release dated
December 2nd, 2021), further emphasizing the depth potential and scope of mineralization
at Beartrack-Arnett;
• A total of three core holes targeting the depth extension of mineralization at Beartrack-
Arnett have been completed in the 2022 program ; two in the Joss high-grade target area
(BT22-241D, which was released on September 12 th, 2022, and BT22-242D) and one in the
South Pit area (BT22-243D, discussed below); a fourth core hole is underway at Joss;
• BT22-243D has been completed at the south end of the South Pit. This hole is intended to
extend the trend of higher-grade mineralization at Joss north to the South Pit and
intersected stockwork mineralization as well as siliceous breccia within the target zone.
Assay results are pending;
• In addition to the drilling at Joss, a second core rig is drilling infill and expansion drill holes
in the Haidee oxide target area at Beartrack-Arnett; the first hole , AC22-085D, has been
completed with sampling underway; and,
• About 2,900 meters of this year’s planned 5,000-meter core drilling program have been
completed at Beartrack-Arnett since the start of drilling in June;
1 Drilled width; true widths are estimated to be 30% to 60% of drilled width with some veinlets thought to
be subparallel to the core axis. The effect of these veinlets on the representative grade of mineralization
is currently unknown.
“We’ve hit another long intercept of high -grade at Joss ”, said Hugh Agro, President & CEO.
Importantly, hole 242D is 150 meters deeper than previous drilling and expands an already
impressive body of mineralization. The Joss zone currently extends for more than one kilometer in
strike and over an average vertical extent of about 500 meters with the average true width of the
mineralized zone estimated to be 10-30 meters thick. Further results from Joss are expected before
year end”, added Agro.
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Details:
Detailed results for drill hole BT22-242D 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)
BT22-242D Joss 322 -58 490.4 491.3 0.9 12.65
606.0 612.1 6.1 5.44
Incl. 609.0 610.8 1.8 13.96
648.9 764.3 115.4 3.49
Incl. 682.6 694.0 11.4 10.12
Incl. 682.6 687.1 4.5 16.62
Incl. 708.1 735.0 26.9 3.83
Incl. 721.2 730.1 8.9 5.54
Incl. 745.2 755.4 10.2 5.98
Incl. 753.4 755.4 2.0 11.38
1 True width is estimated to be approximately 30% to 60% of drilled width, with some veinlets
subparallel to the core axis. The effect of these veinlets on the representative grade of mineralization
is currently unknown. Numbers may not add up due to rounding.
2 The interval 591.0 m to 591.7 m had 0% recovery and was included in the interval calculation as 0.7 m
at 0 g/t Au.
A grade-thickness longitudinal section showing the approximate locations of 2022 completed and
planned drill holes at Joss is presented in Figure 1.
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Figure 1: Joss Grade-Thickness Long Section (September 2022)
QA/QC Program
Quality Assurance/Quality Control consists of the regular insertion of certified reference materials,
duplicate samples, and blanks into the sample stream. Check samples are 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 Geochemistry sample
preparation facility in Twin Falls, Idaho. Gold analyses are performed at the ALS Geochemistry
laboratory in Reno, Nev ada or Vancouver, British Columbia, and multi -element geochemical
analyses are completed at the ALS Minerals laboratory in Vancouver, British Columbia. ALS
Minerals is an ISO/IEC 17025:2017 accredited lab.
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Gold assays are determined on samples consisting of half drill core by fire assay and AAS on a 30 -
gram nominal sample weight (Au-AA23) for Beartrack, and Fire Assay and AAS on a 50-gram nominal
sample weight (Au -AA24) for Arnett. For shallow holes , targeting leachable mineralization, gold
content 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 61M method.
Qualified Person
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.
Revival Gold Inc. is a growth-focused gold exploration and development company. The Company is
advancing the Beartrack-Arnett Gold Project located in Idaho, USA.
Beartrack-Arnett is the largest past -producing gold mine in Idaho. Engi neering work has been
initiated on a Preliminary Feasibility Study (“PFS”) for the potential restart of heap leach operations.
Meanwhile, exploration continues, focused on expanding the 2022 Indicated Mineral Resource of
65.0 million tonnes at 1.01 g/t gol d containing 2.11 million ounces of gold and Inferred Mineral
Resource of 46.2 million tonnes at 1.31 g/t gold containing 1.94 million ounces of gold (see Revival
Gold NI-43-101 Technical Report dated July 13th, 2022, for further details). The mineralized trend
at Beartrack extends for over five kilometers and is open on strike and at depth. Mineralization at
Arnett is open in all directions.
Revival Gold has approximately 86.9 million shares outstanding and an estimated cash balance of
C$7.1 million as o f June 30 th, 2022. All figures in this news release are in metric units and in $US
unless stated otherwise. Additional disclosure including the Company’s financial statements,
technical 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 contact:
Hugh Agro, President & CEO or Melisa Armand, Manager, Investor Relations
Telephone: (416) 366-4100 or 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 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 estimate s 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 “belie ves”, “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 informa tion 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, t he Company’s objectives, goals or future plans,
statements, exploration results, potential mineralization, the estimation of mineral resources,
exploration and mine development plans, timing of the commencement of operations and
estimates of market conditi ons. 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 comp lete 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 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, an inability to predict and counteract the effects of COVID -19 on the
business of the Company, including but not limited to the effects of COVID-19 on the price of
commodities, capital market conditions, restriction on labour and international travel and supply
chains, 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 even ts 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.