Drilling Resumes At The Beartrack-Arnett Gold Project
TORONTO - Revival Gold Inc. reported that drilling has resumed on the high-grade Joss target at the Beartrack-Arnett Gold Project located in Idaho, USA. Approximately 2,500 meters of core drilling in five holes are planned this summer at Joss. Drilling will focus on continuing to define and expand on the one-kilometer trend of high-grade gold mineralization with underground mining potential. Summary high-grade intercepts from the fourteen core holes previously drilled on the Joss trend range from 4 – 9 g/t gold and are estimated to extend between 1 – 5 meters in true width.
High-grade, potentially underground-mineable, material at Beartrack-Arnett offers the possibility to supplement open pit mill material to produce a similar, or greater, quantity of gold at a lower rate of mill throughput. Joss has the added advantage of being centrally located close to existing open pit resources and infrastructure at the project.
The existing Beartrack-Arnett Mineral Resource is primarily in an open pit setting and includes an Indicated Open Pit Mill Resource of 22.2 million tonnes grading 1.52 g/t gold for 1.09 million ounces gold. Open pit mill material was assessed by Roscoe Postle Associates Inc., at an assumed milling rate of 20,000 tonnes per day and a mill recovery of 94%.
“Joss represents a catalytic opportunity to potentially boost gold production and/or reduce the assumed mill throughput and the associated capital cost of constructing a future milling operation at Beartrack-Arnett. Based on current, widely spaced drilling, our team is excited about the high-grade, continuity and the overall dimensions of the Joss target. The target extends for one kilometer of strike with potentially underground mineable widths of 1 – 5 meters, has been drill tested to a depth of 500 meters and remains open on strike and at depth,” said Hugh Agro, President & CEO.
Revival Gold will mobilize a second drill rig in June to resume drilling at the higher elevation Haidee open pit oxide gold target, where drilling will consist of an additional 2,500 meters of core drilling to upgrade and expand on the current Mineral Resource. Revival Gold will also complete geotechnical and hydrological engineering holes this season in preparation for the completion of a Pre-Feasibility Study in 2022 on the first phase restart of Beartrack-Arnett heap leach operations.