Revival Gold Intersects Near Surface Oxide Gold at Arnett and Extends Beartrack Mineralized Trend by 250 meters
Revival Gold Intersects Near Surface Oxide Gold at Arnett and Extends
Beartrack Mineralized Trend by 250 meters
TORONTO, Dec. 04, 2018 -- Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold” or the "Company"), a growth-
focused gold exploration and development company, announces the release of favourable drill results at the Company’s Arnett
gold project (“Arnett”) and adjacent Beartrack gold project (“Beartrack”), located in Lemhi County, Idaho.
Highlights
• The initial four drill holes (AC18-12D to AC18-15D) of the 2018 six-hole program at Arnett have confirmed the
presence of oxide gold mineralization in the Haidee area from near surface to a drilled depth of 125 meters:
◦ AC18-12D intersected 1.44 g/t Au over 4.6 meters 1, 1.60 g/t Au over 3.1 meters 1 and 9.19 g/t Au over 4.1
meters1;
◦ AC18-13D intersected 1.31 g/t Au over 7.6 meters 1 and 1.76 g/t Au over 9.3 meters 1;
◦ AC18-14D intersected 4.92 g/t Au over 3.4 meters 1, 1.75 g/t Au over 2.6 meters 1 and 5.33 g/t Au over 5.1
meters1; and,
◦ AC18-15D intersected 2.25 g/t Au over 3.1 meters 1.
• Drilling at Beartrack (BT18-219D and BT18-220D) has extended the mineralized trend along strike a further 250
meters south of Joss and 950 meters south of the existing mineral resource at Beartrack (“Mineral Resource”):
◦ BT18-219D intersected 2.15 g/t Au over 52.5 meters 2 from 490 to 542 meters in the South Pit area; and,
◦ BT18-220D intersected 1.79 g/t Au over 38.8 meters 2 from 457 to 496 meters south of the Joss area.
1 Drilled width; true width estimated to be approximately equal to drilled width.
2 Drilled width; true width estimates are presented in the table below where available.
“Revival Gold’s initial drill results in the Haidee area at Arnett confirm the presence of another potential source of oxide material
seven kilometers from the legacy leach plant infrastructure at Beartrack”, said Hugh Agro, President & CEO. “At Beartrack
itself we have extended the mineralized trend a further 250 meters south of Joss for a total of 950 meters south along strike
from the South Pit area where the current Mineral Resource ends”.
Arnett Drill Results
Revival Gold completed an initial six hole 900-meter core drilling program in the Haidee area at Arnett in November. The
program successfully confirmed the presence and nature of gold mineralization encountered by previous operators including
Meridian Gold (“Meridian”) in the 1990’s. A seventh planned hole was not drilled due to inclement weather.
Results from the first four holes of the six-hole program at Arnett are presented below:
Hole Number
Area
Azimuth
(deg.)
Dip
(deg.)
From (m)
To (m)
Drilled Width 1 (m)
Fire Assay Gold Grade (g/t)
AC18-12D Haidee 63 -56 35.1 39.6 4.6 1.44
69.2 72.2 3.1 1.60
84.4 88.5 4.1 9.19
Incl. 87.2 88.5 1.4 19.8
96.3 99.4 3.1 0.82
AC18-13D2 Haidee 68 -57 22.0 29.6 7.6 1.31
41.8 50.6 8.8 0.76
56.4 65.7 9.3 1.76
Incl. 56.4 57.9 1.5 5.32
78.3 82.9 4.6 0.70
AC18-14D Haidee 65 -57 25.0 28.4 3.4 4.92
41.6 45.4 3.8 0.68
53.9 60.5 6.6 0.66
73.1 75.7 2.6 1.75
Incl. 75.3 75.7 0.4 6.34
78.8 83.9 5.1 5.33
Incl. 79.7 81.3 1.9 15.9
118.0 118.3 0.3 9.51
137.2 140.1 2.9 0.79
143.9 154.2 10.4 0.51
AC18-15D Haidee 63 -58 83.2 86.3 3.1 2.25
1 True width is estimated to be approximately equivalent to drilled width. Numbers may not add up due to rounding.
2 Recovery for the interval 47.6 m to 49.1 meters was 44%.
Gold mineralization in the Haidee area is oxidized and occurs from near surface to a currently drilled depth of 125 meters.
Mineralization remains open along strike to the south and at depth. Additional drilling is planned in 2019 to further explore the
strike and depth potential at Haidee and to begin exploration across the Arnett property.
Mineralization at Haidee often occurs as visible native gold within oxidized pyrite which can result 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 metallic screen assays of larger-than-
normal pulps.
Figure 1 presents two cross section views depicting both Revival Gold’s and Meridian’s available core drill results at Haidee for
the selected sections. Results are pending for the final two core holes from the 2018 Arnett drill program.
Beartrack Drill Results
Most of the drill holes released to date from Beartrack in 2018 (BT18-207D through BT18-217D) were targeted to expand the
current open pit-constrained Mineral Resource. Drill hole BT18-218D was drilled in the previously untested area between the
South Pit and Joss target. Results released today continue to demonstrate potential for resource expansion (BT18-219D) and,
in the case of BT18-220D, push Revival Gold’s drilling further into the previously unexplored area south of Joss.
BT18-219D successfully extended gold mineralization at depth in the South Pit area. BT18-220D was drilled approximately
250 meters beyond the nearest drill hole at Joss and demonstrates the potential to expand the known mineralized area at
Joss significantly along strike. Revival Gold’s drilling has now extended the mineralized trend along the Panther Creek Fault to
approximately 950 meters south of the existing Mineral Resource at the South Pit.
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.
The 2018 drilling program ended in mid-November with a total of fifteen core holes completed at Beartrack for approximately
7,600 meters. Results are pending for the final two core holes from the 2018 Beartrack drilling campaign.
Summary assay results from holes released today for Beartrack are presented in the table below:
Hole
Number
Area
Azimuth
(deg.)
Dip
(deg.)
From
(m)
To
(m)
Drilled Width
(m)
Est. True
Width1
(m)
Fire Assay Gold Grade
(g/t)
BT18-219D2 South Pit 300 -49 490.0 542.5 52.5 33 2.15
Incl. 535.2 536.4 1.2 1 15.9
546.5 549.6 3.1 2 2.68
556.3 575.6 19.3 12 1.52
Incl. 574.3 575.5 1.2 1 9.17
BT18-220D
South of
Joss 297 -49 457.5 496.3 38.8 n/a 1.79
Incl. 471.2 474.3 3.0 n/a 8.84
1 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 mineral 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 in the mineralized zone. Numbers
may not add up due to rounding.
2 Recovery for the intervals 507.5 meters to 509.0 meters was 0%. This interval was included at zero grade.
Figure 2 illustrates a north-west facing long-section view at Beartrack from the north end of the North Pit Zone to the south end
of the Joss Zone (approximately 4 kilometers) with the current Mineral Resource block model and the location of all thirteen
holes completed and released to-date 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 Beartrack 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 Beartrack uses the Prep 31 method, which involves the preparation of a 250-gram pulp.
Gold assays for Arnett 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 Arnett uses 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.
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 30 th, 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 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”, “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 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. 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 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, 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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