Revival GOLD Intersects 6.2 G/T GOLD over 14.2 Meters Within 3.6 G/T GOLD over 51.5 Meters at Beartrack-Arnett
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REVIVAL GOLD INTERSECTS 6.2 g/t GOLD OVER 14.2 METERS
WITHIN 3.6 g/t GOLD OVER 51.5 METERS AT BEARTRACK-ARNETT
Toronto, ON – September 12 th, 2022 – Revival Gold Inc. (TSXV: RVG, OTCQX: RVLGF) (“Revival
Gold” or the “Company”), is pleased to announce initial results from the Company’s 202 2 drilling
program and provide an update on exploration at the Beartrack-Arnett Gold Project (“Beartrack -
Arnett”) located in Idaho, USA.
Highlights:
• Three core holes targeting the depth extension of mineralization at Beartrack-Arnett have
been completed in the 2022 program; two in the Joss area and one in the South Pit area;
• BT22-241D in the Joss area intersected 6.2 g/t gold over 14.2 meters within 3.6 g/t gold
over 51.5 meters approximately 100 meters below hole BT18-220D, the most southerly
intersection at Joss to -date (8.84 g/t gold over 3.0 meters within 1.79 g/t gold over 38.8
meters (see press release dated December 4th, 2018);
• BT22-242D, also at Joss, intersected what appears to be a similar stockwork to hole BT21-
240D in the same Proterozoic Yellowjacket Formation approximately 150 meters deeper
than BT21-240D (4.34 g/t gold over 110.6 meters drilled width, including 12 g/t gold over
13.7 meters, and 8.8 g/t gold over 11.8 meters (see Revival Gold press release dated
December 2nd, 2021)). Assays results are pending;
• A third hole , BT22-243D, was 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;
• Approximately 2,300 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; and,
• Idaho’s Moose Fire has passed through the Company’s land position. All personnel are safe.
Buildings and equipment were undamaged. Drilling has resumed with two rigs at Joss.
Note: Drilled widths; true widths are estimated to be 30% to 70% of drilled width.
“This year’s drilling to extend the potential for high -grade mineralization at Beartrack -Arnett has
kicked-off with excellent results. We are seeing twice the gold grade and a wider intercept in hole
241D compared with hole 220D, which was located approximately 100 meters above it,” said Hugh
Agro, Revival Gold, President & CEO. “The results suggest that grade and widths are improving at
depth and confirm the open nature of mineralization to the south at Joss . Drilling continues with
two rigs with further results expected later this month”, added Agro.
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Details:
Detailed results for the drill hole 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)
BT22-241 Joss 299 -58 404.0 405.4 1.4 4.95
413.9 423.1 9.1 1.22
532.4 533.8 1.4 6.17
555.7 607.5 51.8 3.602
Incl. 566.5 581.6 15.2 3.81
Incl. 587.1 601.4 14.2 6.172
Incl. 588.7 589.7 1.0 10.65
Incl. 593.3 594.7 1.4 11.80
Incl. 598.2 599.8 1.5 8.28
1 True width estimated to be approximately 30% to 70% of drilled width. 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 gold.
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.
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 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.
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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. Engineeri ng 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 gold con taining 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 independent NI-43-101 Technical Report by Wood plc 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 of Jun e 30th, 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]
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 state ments 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”, “anti cipates”, “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 nature they involve inherent risks and uncertainties.
Although t hese 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 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 conditions. Factor s 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 t o 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 signi ficantly 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 events will occ ur 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.