Revival Gold Intersects 2.35 g/t Au over 70 meters including 4.55 g/t Au over 21 meters at Beartrack
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Revival Gold Intersects 2.35 g/t Au over 70 meters
including 4.55 g/t Au over 21 meters at Beartrack
Toronto, ON – July 29th, 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 first three holes of it’s planned 2019 5,000 -meter core drilling program at the former producing
Beartrack Gold Project (“Beartrack”) and the adjacent Arnett Gold Project (“Arnett”) located in Lemhi
County, Idaho.
Highlights
• 3.44 g/t Au over 13.8 meters1 including 5.04 g/t Au over 3.0 meters1 in BT19-223D
• 2.35 g/t Au over 70.3 meters1 including 4.55 g/t Au over 21.0 meters1 in BT19-224D
• 1.70 g/t Au over 66.3 meters1 including 4.24 g/t Au over 4.4 meters1 in BT19-225D
1 Drilled width; true width estimates are presented in the table below.
“Results from this year’s limited drilling in the Joss area at Beartrack verifies the presence and expands
the scale of higher -grade mineralization in this location ”, said Hugh Agro, President & CEO. “ Revival
Gold’s focus to-date has been on near-surface mineralization but the presence of higher-grade intercepts
over 600 meters of strike within the Panther Creek Fault at Joss suggests underground potential as well.”
Details
Revival Gold initiated it’s 2019 core drilling program at Beartrack with one rig in late May and added a
second rig at Arnett in early June. Drilling this year is intended to continue to build on the scale of the
known gold system at Beartrack and to advance toward a preliminary resource estimate of leachable
gold material at Arnett. An updated resource estimate for Beartrack -Arnett is expected in the first
quarter of 2020.
The three drill holes released today (BT19-223D, BT19-224D and BT19-225D) targeted mineralization in
the Joss area at Beartrack. All three drill holes intersected good grades and confirmed the extension of
gold mineralization at depth. Mineralization in the Joss area is not included in the current NI 43-101
Beartrack mineral resource estimate (“Mineral Resource”).
Summary assay results from drill holes released today are presented in the table 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)
BT19-223D Joss 121 -63 339.2 353.0 13.7 6 3.44
Incl. 342.3 345.3 3.0 2 5.04
BT19-224D2 Joss 115 -57 236.0 306.2 70.3 34 2.35
Incl. 237.2 258.2 21.0 10 4.55
Incl. 237.2 241.7 4.5 2 6.72
316.4 340.8 24.4 12 1.47
366.7 372.1 5.5 3 2.61
BT19-225D3 Joss 119 -64 285.4 351.7 66.3 26 1.70
Incl. 288.4 290.2 1.8 1 4.45
Incl. 347.3 351.7 4.4 2 4.24
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.
2 Recovery for the interval 353.1 meters to 353.2 meters was 33%.
3 Recovery for the interval 286.2 meters to 287.1 meters was 33%.
Figure 1 illustrates a plan view of the footprint of the current Mineral Resource with the location of holes
drilled in 2018 and 2019, subsequent to completion of the Mineral Resource.
No further drilling is planned for Beartrack in 2019 as both rigs are currently at Arnett. Drilling will
continue at Arnett until the Fall with all results expected to be released over the course of the next two
quarters.
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 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.
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
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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 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.
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 Diamond Mountain Phosphate Project
located in Uintah County, Utah.
Revival Gold has approximately 51.5 million shares ou tstanding 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 or Email: [email protected]
Cautionary Statement
Neither the TSX Venture Exchange nor its Regulation Services Provider (as th at 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
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“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 t he 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 signific antly 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 preparin g 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 disclos ed 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 - Beartrack 2018 and 2019 Drill Results (Plan View, July 2019)