Revival GOLD Intersects Near-Surface Oxide GOLD IN an Additional Eleven Drill Holes at Beartrack-Arnett
1
REVIVAL GOLD INTERSECTS NEAR-SURFACE OXIDE GOLD IN AN
ADDITIONAL ELEVEN DRILL HOLES AT BEARTRACK-ARNETT
Toronto, ON – December 10th, 2020 – Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold”
or the “Company”), a growth‐focused gold exploration and development company, announces
results from an additional eleven drill holes from the Company’s 2020 drilling program on the past-
producing Beartrack-Arnett Gold Project (“Beartrack-Arnett”) located in Idaho, USA.
The eleven holes released today are core holes drilled in the Haidee target area to upgrade
resources from the Inferred category to the Indicated category (see Technical Report on the
Beartrack-Arnett Gold Project, Lemhi County, Idaho, USA dated February 21st, 2020) and to expand
the resource along strike and up-dip.
Highlights
• 1.01 g/t gold over 11.0 meters1 and 0.39 g/t gold over 10.4 meters1 in AC20-49D
• 0.40 g/t gold over 13.2 meters1 AC20-052D
• 0.86 g/t gold over 48.5 meters1 in AC20-059D
• 0.45 g/t gold over 36.1 meters1 in AC20-062D
• 0.83 g/t gold over 13.4 meters1 in hole AC20-065
1 Drilled width; true width estimated to be approximately equivalent to drilled width .
Drillholes AC20 -062D and AC20 -059D were drilled along the northeast margin of the existing
mineral resource at Haidee. Both holes intersected long intervals of gold mineralization indicating
that mineralization extends up -dip into the gold soil anomaly northeast of the current Haidee
resource. The anomaly is largely untested and represents an attractive target for further
exploration.
“We are very pleased to see additional broad intercepts of near-surface oxide gold mineralization
in the Haidee area. The results offer potential to expand the open pit heap leach mine plan outlined
in the results of Revival Gold’s first phase Preliminary Economic Assessment released in November,”
said President and CEO Hugh Agro.
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Drill Results
Detailed results for the Haidee target drill holes 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
Grade2
(g/t)
AC20-049D3 Haidee 64.6 -60.9 4.0 14.9 11.0 1.01
Incl. 6.8 8.8 2.0 3.67
20.3 23.7 3.4 0.72
Incl. 20.3 20.7 0.5 3.19
80.2 84.4 4.3 1.15
91.1 101.5 10.4 0.39
111.6 137.3 25.7 0.27
AC20-052D4 Haidee 82.4 -47.2 22.9 34.4 11.6 0.28
71.0 77.1 6.1 0.28
106.1 119.3 13.2 0.40
Incl. 106.1 107.6 1.5 2.67
140.5 151.5 11.0 0.22
181.2 189.2 8.1 0.20
AC20-055D5 Haidee 88.1 -46.3 2.7 9.1 6.4 0.81
25.6 29.0 3.4 0.54
62.2 69.2 7.0 1.03
98.1 102.0 3.8 1.70
120.9 122.6 1.8 0.35
144.8 148.4 3.7 0.48
168.8 173.6 4.8 0.24
182.3 184.7 2.4 0.28
AC20-057D6 Haidee 63.3 -60.3 7.3 11.9 4.6 0.41
41.8 70.9 29.2 0.19
96.5 117.1 20.6 0.21
130.1 136.2 6.1 0.26
142.5 144.6 2.1 0.40
AC20-058D Haidee 77.3 -50.8 56.4 59.4 3.0 2.82
Incl. 56.4 57.9 1.5 5.38
82.5 86.6 4.1 0.87
Incl. 82.5 83.2 0.7 2.97
AC20-059D7 Haidee 66.6 56.0 3.8 8.5 4.7 0.28
17.4 23.2 5.8 0.31
44.5 48.2 3.7 0.33
64.6 113.1 48.5 0.86
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Hole Number
Area
Azimuth
(deg.)
Dip
(deg.)
From
(m)
To
(m)
Drilled
Width1
(m)
Fire Assay
Gold
Grade2
(g/t)
Incl. 64.6 66.4 1.8 3.59
Incl. 84.7 92.4 7.6 1.55
Incl. 86.3 87.6 1.4 4.13
Incl. 99.1 100.5 1.4 7.66
127.4 132.0 4.6 0.60
AC20-060D Haidee 64.8 -63.4 74.1 77.1 3.0 0.24
155.4 165.8 10.4 0.70
Incl. 158.5 165.8 7.3 0.93
AC20-062D8 Haidee 61.0 -60.5 5.5 12.5 7.0 0.91
27.4 46.6 19.2 0.25
99.5 135.6 36.1 0.45
Incl. 105.6 110.2 4.6 1.14
AC20-063D Haidee 63.9 -60.8 No significant results
AC20-064D9 Haidee 65.8 -60.0 6.9 11.6 4.7 0.21
AC20-065D10 Haidee 64.1 -60.9 17.5 30.9 13.4 0.83
83.9 89.9 6.0 0.89
113.3 134.1 20.8 0.19
1 True width estimated to be approximately equivalent to drilled width although some variation may occur. Numbers
may not add up due to rounding.
2 Where applicable, grades at Arnett are capped at 8.0 g/t Au using the methodology described in the Technical
Report on the Beartrack-Arnett Gold Project, Lemhi County, Idaho, USA dated February 21st, 2020. No capping was
applicable in the results presented above.
3 Average core recovery for the interval 4.0 meters to 14.9 meters was 74%. Recover y for individual intervals was as
follows: 7.0 meters to 7.9 meters – 38%; 8.8 meters to 10.1 meters – 50%; 11.3 meters to 12.6 meters – 43%; 13.1
meters to 13.7 meters – 25%; 14.0 meters to 14.3 meters – 50%.
4 Core recovery for intervals with recovery below 50% was as follows: 22.9 meters to 23.2 meters - 50%; 23.5 meters
to 23.8 meters – 50%; 143.6 meters to 145.1 meters – 36%.
5 Core recovery for intervals for the intervals 6.1 meters to 7.6 meters and 8.2 meters to 8.5 meters was 40% and 0%;
respectively. The interval from 8.3 meters to 8.5 meters was included at 0 g/t Au.
6 Core recovery for the intervals with recovery below 50% was as follows : 10.8 meters to 11.9 meters – 43%; 113.4
meters to 114.9 meters was 0%; 114.9 meters to 116.4 meters – 50%; 130.1 meters to 130.8 meters – 40%. The
interval from 113.4 meters to 114.9 meters was included at 0 g/t Au.
7 Core recovery for the interval 45.1 meters to 46.6 meters was 50%.
8 Core recovery for the interval 110.2 meters to 111.1 meters was 40%.
9 Hole AC20-064D represents the re-drilled upper 32.0 meters of hole AC20-046D, which had very poor core recovery.
10 Core recovery from 20.3 meters to 20.7 meters was 13%.
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Figure 1 below is a plan view of the Arnett Haidee target area describing the collar locations for all
thirty drill holes completed in this year’s drill ing program (including those for which results have
been released to-date).
Figure 1: Haidee Target Area 2020 Drilling Program
Drill Program Update
The thirty exploration and infill drill holes completed this season on the Haidee target totaled
approximately 4,900 meters of drilling.
A further five holes have been completed between the North and South Pit areas totaling
approximately 1,660 meters. The holes in this area cover a strike length varying from 400 to 600
meters along the Panther Creek Shear Zone (“PCSZ”). Each of the holes intersected the PCSZ with
varying amounts of oxidized and unoxidized sulfides in each hole.
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An initial three exploration holes have been drilled in the Rabbit target area for a total of
approximately 900 meters. Difficult drilling conditions limited the depth of drilling at Rabbit ,
however, the operating and geological information obtained in drilling these holes will be of use in
planning next year’s follow-up program.
This year’s drill program will conclude shortly with the completion of two exploration drill holes in
the Joss target area for a total of approximately 960 meters. Remaining assay results for the seven
outstanding drill holes at Haidee and the nine outstanding drill holes at Beartrack are expected to
be available in January and February 2021.
Claim Staking
Revival Gold staked an additional 47 claims on the northwestern boundary of the Beartrack-Arnett
property this fall. The claims were staked around the periphery of the existing claim block to cover
areas of alteration or conceptual targets developed during the Company’s 2020 mapping program.
The new claims cover approximately 380 hectares, bringing the area covered by Revival Gold’s total
land position at Beartrack-Arnett to approximately 5,800 hectares.
Upcoming Activities
With 2020 field work coming to an end , Revival Gold has initiated a review of the data collected
during this year’s exploration program and the integration of this data into the Beartrack-Arnett
geological model. In connection with these activities, the Company has contracted Mira Geoscience
Ltd. (“Mira”), a geological consulting firm with expertise in three-dimensional computer modeling
and artificial intelligence. Mira will take a holistic approach to data analysis, integrating all drilling
data, including historical blast hole drilling from the Beartrack mine, geological, geochemical, and
geophysical data to generate a three -dimensional model of the mineral systems at Beartrack -
Arnett. The aim is to build on the Company’s understanding of mineralization controls at the
deposit scale, the controls on higher grades within the deposits and to identify additional
exploration targets beyond the known resource.
The Company has also retained consulting structural geologist, Mr. Brett Davis, to investigate
incidents of high-grade mineralization within the current mineral resource at Beartrack -Arnett, at
depth and along strike within the PCSZ. Drilling in the PCSZ to-date has intersected several instances
of bonanza-style grades including 71 g/t gold over 9.8 meters (BT12 -175D), 23.1 g/t gold over 3.3
meters (BT17-201D), and 20.1 g/t gold over 2.1 meters (BT18 -221D). These results have received
little follow-up to-date.
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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.
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 Idaho , USA. Revival Gold also owns r ights to a 100% interest in
the neighboring Arnett Gold Project.
Beartrack-Arnett is the largest past -producing gold mine in Idaho. A Preliminary Economic
Assessment has been completed for a first phase restart of heap leach operations to produce 72,000
ounces of gold per year over an initial seven -year mine life at an AISC of $1,057 per ounce of gold.
Meanwhile, exploration continues focused on expanding the current Indicated Mineral Resource of
36.6 million tonnes at 1.15 g/t gold containing 1.36 million ounces of gold and Inferred Mineral
Resource of 47.1 million tonnes at 1.08 g/t gold containing 1.64 million ounces of gold. The
mineralized trend at Beartrack extends for over 5 km and is open on strike and at depth.
Mineralization at Arnett is open in all directions.
For further details, including key assumptions, parameters and methods used to estimate the
Mineral Resources, and data verification, please see the Company’s press release dated November
17th, 2020 and NI 43 -101 compliant technical report titled “Technical Report on the Beartrack -
Arnett Gold Project, Lemhi County, Idaho, USA” dated February 21st, 2020.
Revival Gold has approximately 71.2 million shares outstanding and had a cash balance of
approximately C$12.7 million on S eptember 30 th, 2020. 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 Adam Rochacewich, CFO
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. Technical in formation in this news release has been reviewed and approved by
Steven T. Priesmeyer, C.P.G., Vice President Exploration, Revival Gold Inc. and Rodney A. Cooper,
P.Eng., a consultant to Revival Gold Inc. , Qualified Person s within the meaning of National
Instrument 43-101 – Standards of Disclosure for Mineral Projects.
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”, “est imates”, “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, the Company’s ability to predict or counteract
the potential impact of COVID-19 coronavirus on factors relevant to the Company’s business, failure
to identify additional mineral resources, failure to convert estimated mineral resources to reserves
with more advanced studies , the inability to eventually complete a feasibility study which could
support a production decision, the preliminary nature of metallurgical test results may not be
representative of the deposit as a whole , 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.