Revival Gold Reports Favourable Metallurgical Results for the Beartrack-Arnett Gold Project
Revival Gold Reports Favourable Metallurgical Results for the Beartrack-Arnett
Gold Project
TORONTO, Dec. 05, 2019 -- Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold” or the "Company"), a growth‐
focused gold exploration and development company, announces favourable results from the Company’s 2019 metallurgical test
program on the Beartrack Gold Project (“Beartrack”) and adjacent Arnett Gold Project (“Arnett”), both located in Lemhi County,
Idaho.
Revival Gold’s 2019 metallurgical test program was designed and overseen by Roscoe Postle Associates Inc. (“RPA”). Test
work was performed by SGS Mineral Services (“SGS”) in Vancouver, Canada. Work on sulphide material from Beartrack
included the following:
• Statistical analysis of lithology, grade and oxidation level variability to guide sample selection;
• Preparation of three sub-composite samples and one master composite sample using one quarter drill core;
• X-ray diffraction analysis on the three sub-composite samples;
• Rougher kinetic flotation tests and cleaner flotation testing; and,
• Pressure oxidation testing.
Additionally, five bottle roll tests were completed on coarse rejects selected from within the area of Revival Gold’s drilling on
the Haidee target at Arnett.
Results demonstrate that Beartrack sulphide material responds favourably to a combined process flowsheet of rougher
flotation, cyanide leaching of the rougher flotation tailings, pressure oxidation of the rougher flotation concentrate and cyanide
leaching of the resulting residue to produce doré gold. The overall gold recovery in test work was 94-95% and appears to be
independent of primary grind sizes ranging from P 80 107 µm to P 80 147 µm. Mass pull was 12-13%. RPA has recommended
that Revival Gold use a gold recovery of 94% in the Company’s pending updated resource estimate for Beartrack.
Results from Arnett indicate that the material tested is highly amenable to gold recovery by cyanide leaching. Tests were
leached for 48 hours and resulted in gold extractions of 85-95%. Based on the data available, including historical data for
tests completed at larger particle sizes, RPA has recommended that Revival Gold assume a heap leach flowsheet for Arnett
and use a gold recovery of 75% in the Company’s planned resource estimate for the project.
“The recommendation to use 94% gold recovery for Revival Gold’s upcoming Beartrack resource update represents a
significant improvement over the company’s prior assumption of 84%,” said Hugh Agro, President & CEO. “We are also
pleased to have confirmation that the Arnett material tested responds very well to recovery by cyanide leaching and that the
recommended gold recovery for resource estimation purposes at Arnett is a respectable 75%.”
Following completion and assessment of the updated resource for Beartrack-Arnett, RPA recommends additional metallurgical
test work to further optimize the proposed sulphide flowsheet and design. RPA further recommends additional bottle roll tests
and column leach tests at various crush sizes for Arnett.
Revival Gold cautions that metallurgical test work completed to-date is preliminary in nature and may have been completed
using samples that are not fully representative of the material that may be mined in future. Results may change as Beartrack-
Arnett is advanced and additional test work is completed.
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
the scientific and technical content in this press release.
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 currently has approximately 52.8 million shares outstanding and had a working capital balance of approximately
$1.6 million as at September 30 th, 2019. 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 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 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 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.