Highlights:
- Two core holes have been completed to-date on the Joss high grade gold target as part of Revival Gold’s 2021 drilling program;
- BT21-237D intersected a wide, strongly mineralized interval of 2.67 g/t gold over 84.6 meters including 11.79 g/t gold over 2.5 meters and 5.36 g/t gold over 5.8 meters1;
- BT21-238D, along strike approximately 150 meters north of BT21-237D, intersected what appears to be a similar stockwork, also hosted by the Proterozoic Yellowjacket Formation. Assays results are pending;
- A third hole, BT21-236D, was abandoned due to difficult drilling conditions short of the target and a fourth hole, BT21-239D, is currently in progress about 400-meters south on strike of the southern most drillhole to date at Joss. About 1,500 meters of this year’s planned 2,500-meter drilling program at Joss have been completed since the start of drilling in June;
- A second drill rig arrived at the project this week to accelerate the pace of drilling at Beartrack-Arnett. The rig is being mobilized to the Haidee heap leach gold target area, where an additional 2,500 meters of drilling, including geotechnical, hydrological and approximately ten exploration core holes, are planned for this season.
1 Drilled widths; true widths are unknown at this time.
“High-grade gold mineralization is exactly what we were hoping to find at Joss and today’s results from BT21-237D continue to demonstrate the significant scale and high-grade potential of this area at Beartrack-Arnett. We are now underway on a large step-out drill hole and expect further assay results from Joss by early September. Work has also commenced at Haidee where we have potential to add near surface leachable resources and optimize engineering factors for our phase one mine restart plan. Last year’s drilling at Haidee revealed the extension of stacked mineralized structures up-dip to the north-east and we are excited to get back into this area to further test the potential,” said
Details:
Detailed results for the drill hole 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) |
BT21-237D | Joss | 264.0 | 267.3 | 3.4 | 2.98 | ||
317.9 | 331.6 | 13.7 | 1.16 | ||||
343.3 | 427.9 | 84.6 | 2.67 | ||||
Incl. | 354.4 | 356.9 | 2.5 | 11.79 | |||
Incl. | 376.6 | 380.4 | 3.7 | 4.17 | |||
Incl. | 388.4 | 392.6 | 4.2 | 4.14 | |||
Incl. | 404.8 | 426.0 | 21.1 | 3.80 | |||
Incl. | 420.2 | 426.0 | 5.8 | 5.36 |
1 True width estimated to be approximately equivalent to drilled width. Numbers may not add up due to rounding.
Contained within the broader mineralized intersection in BT21-237D are several intervals of higher-grade mineralization. The mineralized interval in drill hole BT21-237D is broader, with more high-grade mineralization than that encountered in drill hole BT20-220D, which is located approximately 60 meters to the south along the
Drill hole BT21-236D intersected weakly anomalous gold mineralization before being abandoned because of difficult drilling conditions short of the target zone at a depth of 223 meters. Samples from drill hole BT21-238D have been submitted to ALS Geochemistry for assay, while drilling on hole BT21-239D is underway.
Figure 1 below is a plan view of the Joss target area showing the approximate locations for the five holes to be drilled as part of the 2021 exploration program (including those for which results were released today).
Drilling at Haidee this summer will consist of 2,500 meters of engineering and exploration core drilling to augment and expand on the current Haidee Mineral Resource with the objective to increase mine life for the first phase restart of gold production from Beartrack-Arnett. Figure 2 below illustrates the location of this year’s planned engineering and exploration drill holes at Haidee.
Haidee hosts a
In 2020, after initiating the
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/f06227c8-2c24-4152-bd58-5d43cf7eaabc
https://www.globenewswire.com/NewsRoom/AttachmentNg/063b29c0-a9a4-4abc-a7e0-bc0e300d63c1
https://www.globenewswire.com/NewsRoom/AttachmentNg/22894bb5-ce2b-4f60-ba6d-24feb73a5923
Qualified Person
About
Beartrack-Arnett is the largest past-producing gold mine in
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
For further information, please contact:
Telephone: (416) 366-4100 or Email: info@revival-gold.com
Cautionary Statement
Neither the
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, 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 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.
Figure 1
Joss Target Area 2021 Drill Program
Figure 2Ha
Haidee Target Area 2021 Drill Program
Figure 3
Beartrack-Arnett Target Areas
2021 GlobeNewswire, Inc., source