Revival GOLD Releases Final 2021 Drill Results at Haidee
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REVIVAL GOLD RELEASES
FINAL 2021 DRILL RESULTS AT HAIDEE
Toronto, ON – February 8th, 2022 – Revival Gold Inc. (TSXV: RVG, OTCQX: RVLGF) (“Revival Gold”
or the “Company”), is pleased to announce results from the final seven infill drill holes completed
in the Haidee target area in connection with the Company’s 2021 exploration program at the
Beartrack-Arnett Gold Project (“Beartrack-Arnett”) located in Idaho, USA.
Each of the seven holes reported below encountered above cut-off grade, near-surface oxidized
gold mineralization. Highlights include:
• 0.92 g/t gold over 16.2 meters in AC21-075D
• 0.75 g/t gold over 44.1 meters in AC21-084D
• 0.92 g/t gold over 14.8 meters in AC21-081D
• 0.57 g/t gold over 12.2 meters and 0.51 g/t gold over 22.2 meters in AC21-077D
• 0.42 g/t gold over 25.7 meters and 0.48 g/t gold over 27.4 meters in AC21-083D
1 True width is estimated to be greater than 70% of drilled width.
The 2021 drilling program at Haidee was designed to upgrade and expand the deposit’s current
Inferred heap leachable mineral resources. In addition, the program included holes drilled to obtain
engineering data for Revival Gold’s planned late-2022 Pre-Feasibility Study.
A total of 15 holes were completed for approximately 2,500 meters, with four holes drilled for
geotechnical and hydrological purposes . Results are consistent with results from previous drilling
and continue to support the up -dip and down-dip extensions of mineralization in the Haidee area
as areas for the potential expansion of the current Mineral Resources.
“Drill results released today will support an upgrade in the quality of the gold resource at Haidee
and point to future resource expansion opportunities both up and down dip of the current deposit”,
said Hugh Agro, President and CEO. “An updated resource estimate for the entire Beartrack-Arnett
project is well underway and results are expected to be released by quarter end”, added Agro.
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Detailed results for 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 Grade
(g/t)
AC21-075D2, 3 Haidee 325 -82 71.2 77.7 6.6 0.20
112.5 128.6 16.2 0.92
Incl. 113.8 115.3 1.5 3.63
AC21-077D2, 4 Haidee 80 -82 3.7 15.8 12.2 0.41
41.0 52.5 11.5 0.40
106.6 118.7 12.2 0.57
127.1 149.3 22.2 0.51
171.3 190.5 19.2 0.41
AC21-080D2, 5 Haidee 236 -84 20.7 26.2 5.5 0.25
AC21-081D6 Haidee 68 -56 17.7 25.3 7.6 0.29
49.7 55.0 5.4 0.45
81.9 96.7 14.8 0.92
Incl. 81.9 87.8 5.9 2.02
135.8 138.3 2.5 1.29
AC21-082D2, 7 Haidee 181 -88 14.2 15.7 1.5 1.33
71.6 75.0 3.4 1.15
93.6 95.1 1.5 2.23
AC21-083D8 Haidee 28 -59 13.4 20.9 7.5 0.32
89.4 97.5 8.1 0.72
Incl. 96.0 97.5 1.5 3.10
102.4 108.5 6.1 0.69
121.2 146.9 25.7 0.42
168.9 196.3 27.4 0.48
Incl. 191.7 193.2 1.5 3.92
AC21-084D9 Haidee 65 -75 12.1 29.9 17.8 0.75
Incl. 12.1 13.3 1.2 6.38
38.1 45.9 7.8 0.74
94.1 138.3 44.1 0.75
Incl. 109.4 116.1 6.7 2.28
Incl. 109.4 110.7 1.3 6.39
1 True width is estimated to be greater than 70% of drilled width. Numbers may not add up due to
rounding.
2 Geotechnical drillhole.
3 The interval 111.7 – 111.9 m was removed for a geotechnical sample. This interval was included in the
grade and thickness calculation at 0 g/t gold.
4 The intervals 14.3 – 14.7 m and 45.2 – 45.5 m were removed for geotechnical samples. These intervals
were included in the grade and thickness calculation at 0 g/t gold. Recovery for the interval 128.6 –
130.1 m was 42%.
5 Recovery for the interval 20.7 m to 23.5 m was 30%. The intervals 23.2 – 23.5 m and 24.9 – 25.2 m were
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removed for geotechnical samples. These intervals were included in the grade and thickness calculation at 0
g/t gold.
6 Recoveries for the intervals 53.0 – 55.0 m and 82.2 – 83.2 m were 48% and 47% respectively.
7 Recovery for the interval 73.2 – 74.2 m was 48%.
8 Recoveries for the intervals 18.5 - 19.3 m and 90.0 – 92.5 m were 32% and 50% respectively.
9 Recovery for the interval 106.6 – 108.0 m was 24%.
Figure 1 below is a plan view of the Haidee target area showing collar locations and intercepts for
all holes drilled in 2020 and 2021 . Figure 2 is a section view looking north through the Haidee
deposit.
Figure 1: Haidee Target Area 2020-2021 Drill Program Results
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Figure 2: Haidee Target Area – Section View
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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 ar e performed at the ALS Geochemistry
laboratory in Reno, Nevada 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 ho les 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.
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 is
advancing the Beartrack-Arnett Gold Project located in Idaho, USA.
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 five kilometers and is open on strike and at depth.
Mineralization at Arnett is open in all directions.
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For further details, including key assumptions, parameters and methods used to estimate the
Mineral Resources, and data verification, please see the Company’s NI 43 -101 compliant technical
report titled , “Preliminary Economic Assessment of the Heap Leach Operation on the Beart rack
Arnett Gold Project, Lemhi County, Idaho, USA – NI 43-101 Technical Report”, dated December 17th,
2020.
Revival Gold has approximately 86.9 million shares outstanding and an estimated cash balance of
C$10 million. 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, 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 Ven ture
Exchange) accepts responsibility for the adequacy or accuracy of this news release. Technical information in this news releas e has
been reviewed and approved by Steven T. Priesmeyer, C.P.G., Vice President Exploration, Revival Gold Inc., Qualified Person within
the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
This News Release includes ce rtain “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 ma nagement, 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”. Si nce
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 actu al 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. Fac tors 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 in volved
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 new s
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 because of new information, future events or
otherwise, other than as required by law.