Revival Gold (TSXV: RVG; US-OTC: RVLGF) has released an updated resource for the 51-sq.-km Beartrack-Arnett project in Idaho with substantial growth in the inferred resource category.
The latest estimate features updated numbers for the Beartrack portion as well as an initial estimate for Arnett.
Indicated resources now stand at 36.4 million tonnes grading 1.16 grams gold per tonne for a total of 1.4 million oz., a slight increase over the previous 1.2 million ounces. The majority of these are comprised of open-pittable sulphides at Beartrack which would require milling, unchanged from the 2018 release.
The updated inferred resources consist of 47.2 million tonnes grading 1.08 grams gold per tonne for a total of 1.6 million oz., and are an increase over the 765,000 oz. in this category previously.
Of note, the latest release now includes 471,000 oz. of underground sulphide resources at Beartrack as well as 147,000 oz. of open-pit heap leach resources at Arnett. There are now an estimated 850,000 oz. of open-pittable sulphides at the Beartrack deposit.
“Results at Beartrack-Arnett have well exceeded Revival Gold’s ambitious goals for exploration success,” Hugh Agro, the company’s president and CEO says in a press release. “Inferred gold resources have more than doubled while indicated gold resources are up 11% with this resource update. The deposit remains open laterally and at depth, and, at its current scale, Beartrack-Arnett represents an outstanding opportunity for further growth.”
The latest results are based on 563 drill holes totalling 93,000 metres of drilling, versus 71,000 metres used for the prior estimate.
Revival is now working on a preliminary economic assessment for Beartrack to evaluate a potential re-start of heap leach operations and plans on additional exploration drilling at Beartrack-Arnett. The Beartrack site produced 609,141 oz. gold in the 1990s from heap leach operations.
Beartrack is a former producing gold mine 17 km northwest of Salmon.
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