Highlights
Hole Number (listed from north to south) | From (m) | Drilled Width1 (m) | Fire Assay Gold Grade Uncapped (g/t) |
BT12-176D | 308.2 | 4.8 | 9.4 |
BT18-218D | 273.3 | 1.4 | 8.39 |
BT18-221D | 377.6 | 8.2 | 6.65 |
Incl. | 383.7 | 2.1 | 20.15 |
BT19-223D | 342.3 | 3.0 | 5.04 |
BT18-213D | 504.7 | 2.7 | 7.73 |
BT20-235D | 410.9 | 10.1 | 4.58 |
BT12-186D | 397.2 | 2.3 | 8.89 |
and | 516.8 | 2.3 | 5.95 |
B18-211D | 237.1 | 2.4 | 7.14 |
DD-161 | 213.4 | 1.5 | 5.04 |
BT20-227D | 383.1 | 3.9 | 6.84 |
BT19-224D | 237.2 | 11.1 | 5.77 |
BT19-225D | 347.3 | 4.5 | 4.24 |
DD-162 | 184.4 | 4.6 | 5.25 |
and | 213.5 | 4.0 | 4.79 |
BT18-220D | 471.2 | 3.0 | 8.84 |
1 True width is unknown at this time but is estimated to be approximately half of the drilled width. Further details tabled below.
The appraisal was initiated earlier this year in response to Revival Gold’s 2020 drilling results, the relogging of previously drilled core and fresh geological insights developed by the Company’s exploration team led by Vice President Exploration,
- Based on wide-spaced drilling, there appears to be a core of consistent high-grade sulphide gold mineralization that extends over one kilometer from the south end of the
South Pit area through to the south end of the Joss area. - The high-grade mineralization is situated within the near-vertical
Panther Creek Shear Zone (“PCSZ”). Intersections run from 4 - 9 g/t gold and are estimated to range between 1 - 5 meters in true width. - Mineralization at Joss has been tested over 300 meters vertically and extends to approximately 500 meters below the surface where it remains open at depth.
- The core is enveloped within a larger lower-grade halo of gold mineralization, some of which has been previously analyzed and included in the bulk underground mineable component of the 2020 Mineral Resource at Beartrack-Arnett (see News Release dated
November 17 th, 2020). - Cross structures are thought to be important controls on mineralization at Beartrack (for example, in the Ward’s Gulch area where BT12-175D intersected 71 g/t gold over 9.8 meters) and such structures are evident at Joss. Intersection points with the PCSZ represent important drill targets.
- The zone is open to the south. To the north, the mineralization continues into the
South Pit area, which hosts additional open pit and bulk underground mineable Mineral Resources.
“Efforts by Revival Gold’s exploration team have resulted in a game-changing development at Beartrack-Arnett. Our previous focus on bulk tonnage mineralization has been transformed with an increased understanding of high-grade gold mineralization on the project. This development opens the possibility for the project hosting a potentially large, high-grade ore body with additional bulk underground mining potential at Joss and elsewhere, as the entire five-kilometer strike length of mineralization along the
High-Grade Drill Intersections
Details for select high-grade drill intersections for the fourteen core holes drilled to-date over approximately 1 kilometer of strike from the south end of the
Hole Number (listed from north to south) | Year Drilled | Azimuth (deg.) | Dip (deg.) | From (m) | To (m) | Drilled Width1 (m) | Fire Assay Gold Grade Uncapped (g/t) | Fire Assay Gold Grade Capped2 (g/t) |
BT12-176D | 2012 | 302 | -55 | 306.9 | 329.9 | 22.9 | 3.72 | 3.15 |
Incl. | 308.2 | 313.0 | 4.8 | 9.4 | 6.68 | |||
Incl. | 317.6 | 319.7 | 2.1 | 5.26 | ||||
BT18-218D | 2018 | 299 | -58 | 273.3 | 280.7 | 7.5 | 2.85 | 2.78 |
Incl. | 273.3 | 274.6 | 1.4 | 8.39 | 8.00 | |||
BT18-221D | 2018 | 300 | -50 | 377.6 | 385.9 | 8.2 | 6.65 | 3.50 |
Incl. | 383.7 | 385.9 | 2.1 | 20.15 | 8.00 | |||
BT19-223D | 2019 | 120 | -60 | 339.2 | 353.0 | 13.7 | 3.44 | |
Incl. | 342.3 | 345.3 | 3.0 | 5.04 | ||||
BT18-213D | 2018 | 305 | -60 | 451.1 | 514.4 | 63.2 | 1.85 | 1.66 |
Incl. | 504.7 | 507.5 | 2.7 | 7.73 | 5.57 | |||
531.3 | 548.9 | 17.7 | 2.03 | |||||
532.5 | 534.0 | 1.5 | 5.15 | |||||
BT20-235D | 2020 | 271 | -50 | 377.3 | 423.1 | 45.7 | 2.29 | |
Incl. | 410.9 | 420.9 | 10.1 | 4.58 | ||||
BT12-186D | 2012 | 120 | -68 | 357.2 | 399.4 | 42.2 | 2.90 | 2.76 |
Incl. | 397.2 | 399.4 | 2.3 | 8.89 | 6.40 | |||
516.8 | 522.1 | 5.3 | 4.30 | 3.82 | ||||
Incl. | 516.8 | 519.1 | 2.3 | 5.95 | 5.35 | |||
B18-211D | 2018 | 303 | -53 | 229.5 | 241.4 | 11.9 | 2.62 | 2.24 |
Incl. | 237.1 | 239.6 | 2.4 | 7.14 | 5.33 | |||
323.7 | 344.1 | 20.4 | 1.97 | |||||
334.4 | 340.5 | 6.1 | 3.91 | |||||
DD-161 | 1997 | 120 | -60 | 213.4 | 214.9 | 1.5 | 5.04 | |
BT20-227D | 2020 | 283 | -59 | 352.3 | 396.2 | 43.9 | 2.41 | 2.40 |
Incl. | 358.1 | 363.0 | 4.9 | 3.90 | 3.76 | |||
383.1 | 387.0 | 3.9 | 6.84 | |||||
390.4 | 393.2 | 2.8 | 3.84 | |||||
BT19-224D | 2019 | 120 | -60 | 235.9 | 294.7 | 58.8 | 2.61 | 2.59 |
Incl. | 237.2 | 248.3 | 11.1 | 5.77 | 5.67 | |||
Incl. | 252.4 | 258.2 | 5.8 | 4.21 | ||||
BT19-225D | 2019 | 120 | -65 | 285.4 | 351.7 | 66.3 | 1.70 | 1.69 |
Incl. | 347.3 | 351.7 | 4.5 | 4.24 | 4.04 | |||
DD-162 | 1997 | 120 | -60 | 152.1 | 218.5 | 66.3 | 2.29 | |
Incl. | 184.4 | 189.0 | 4.6 | 5.25 | ||||
Incl. | 213.5 | 217.5 | 4.0 | 4.79 | ||||
BT18-220D | 2018 | 471.2 | 496.3 | 25.1 | 2.23 | 2.11 | ||
Incl. | 471.2 | 474.3 | 3.0 | 8.84 | 7.81 |
1 True width is unknown at this time but is estimated to be approximately half of the drilled width. Numbers may not add up due to rounding.
2 Where applicable, grades at Beartrack-Arnett are capped at 8.0 g/t Au using the methodology described in the Technical Report on the
Figures 1 and 2 below provide plan and sectional views of the new high-grade underground target at Beartrack-Arnett in the Joss area describing the geological setting, collar locations and intercepts for all fourteen drill holes presented in the summary table above.
Permitting and Drilling Plans
Future drilling between the south end of the
Figure 1: Plan View of the High-Grade Underground Target at Beartrack-Arnett is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a68cd405-121c-4e5f-9943-e1fe6b4978ab
Figure 2: Cross-Sectional Views of the High-Grade Underground Target at Beartrack-Arnett is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e1a6ff32-c784-42c1-a269-9d7bb2b3014b
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: Plan View of the High-Grade Underground Target at Beartrack-Arnett
Figure 1: Plan View of the High-Grade Underground Target at Beartrack-Arnett
Figure 2: Cross-Sectional Views of the High-Grade Underground Target at Beartrack-Arnett
Figure 2: Cross-Sectional Views of the High-Grade Underground Target at Beartrack-Arnett
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