Revival Gold Inc. (TSXV: RVG | OTCQX: RVLGF) has provided an exploration and development update for the company’s Beartrack-Arnett Gold project, USA, where a new mineral resource estimate is expected by the end of April.
Laying out Revival’s plans for 2022, Hugh Agro, President and CEO announced that upcoming exploration and development milestones for the company are expected to include the release of an updated resource estimate within the next six weeks, mobilization for drilling in the second quarter and a PFS by year end.
Revival Gold’s 2022 exploration plans have been finalized for a total of 7,000m of core and drilling at the Idaho-based Beartrack-Arnett gold project. Out of the 7,000m of drilling planned, Revival Gold intends to complete 2,000m of core drilling at its high-grade Joss target in May, following positive drill results which previously intersected 4.34 g/t gold over 110.6m including 12 g/t gold over 13.7m and 8.8 g/t gold over 11.8m last year.
Additional drilling is planned at the company’s Roman’s Trench target, where drilling in the 1990’s formerly intersected 1.90 g/t gold over 21m and 1.95 g/t gold over 18m in near-surface oxides. At the Haidee project, drilling is expected to commence on the up-drip extension of mineralization, as the up-dip oxide target is covered by a soil anomaly, which represents an opportunity to expand open pit mineralization for the company.
For the remaining 3,000m, drilling is planned for later this year in order to test several additional near surface oxide gold exploration opportunities. Revival Gold have stated that these are new targets, each possessing soil and/or geophysical anomalies and/or elevated rock sampling results. The new targets include the Midlands area, the Shenon Gulch area, and a magnetic low, which are reportedly similar in character to a magnetic low that underlies a mineral resource at the Haidee project.
External to Revival Gold’s drilling plans, the company is completing ongoing engineering preparations for a pre-feasibility study, including geotechnical, geochemistry, and hydrology studies, as well as mine planning and ore processing optimization trade off studies. Together with site environmental baseline data collection activities, the company expects the planned PFS to lead to the potential re-start of its Beartrack-Arnett heap leach operations. The PFS will reach completion by year end. Finally, Revival Gold has also initiated a broader, property-wide evaluation of potential development concepts and processing alternatives, including potential high-grade, underground mining of transition and sulphide material.
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