Revival Gold Completes 2017 Drilling at Beartrack and Announces Encouraging Rock Sample Results at Arnett Creek
TORONTO, ONTARIO--(Marketwired - Nov 13, 2017) -
Note to editors: There is a map associated with this press release.
Revival Gold Inc. (TSX VENTURE:RVG) ("Revival" or, the "Company") announces the completion of the Company's 2017 core drilling program at the Beartrack Gold Project ("Beartrack") located in Lemhi County, Idaho. The Company further announces encouraging rock sample results from its 2017 field program at the adjoining Arnett Creek Gold Project ("Arnett Creek").
"In less than six months Revival has permitted and successfully completed 3,024 meters of core drilling at Beartrack", said Hugh Agro, President and CEO. "We expect to announce initial assay results from the 2017 Beartrack core drilling program before year-end and are encouraged by today's release of rock sample results at Arnett Creek".
Beartrack 2017 Drilling Program
Revival completed the 2017 portion of the Company's planned 11,000-meter core drilling program at Beartrack on November 12th. The 2017 portion of the program commenced on September 23rd and consisted of 3,024 meters of core drilling in twelve holes in the Ward's Gulch and South Pit areas.
Two deep holes, totaling 1,247 meters, were completed in the Ward's Gulch area. These holes targeted deep mineralization identified by Meridian Beartrack Co. ("Meridian Beartrack") during their 2012 and 2013 drilling program. The focus was around diamond drill hole BT12-175D, which intersected 71.0 g/t Au over 9.75 meters drilled width (estimated true width of 4.88 meters).
A second drill rig targeted shallower oxide and mixed oxide-sulphide mineralization in the Ward's Gulch and South Pit areas. Five shallow holes totaling 986 meters were completed in the Ward's Gulch area and five shallow holes totaling 791 meters were completed in the South Pit area.
Shallow drilling in these two areas is intended to confirm historic drilling completed by Meridian Beartrack and lay the groundwork for additional drilling in 2018. Ward's Gulch is located between the North and Mason-Dixon pits, both of which were mined by Meridian Beartrack in the 1990's when the price of gold was below US$300 per ounce.
Initial assay results from the 2017 Beartrack core drilling program are expected before year end with the balance of assay results expected to be released in the first quarter of 2018.
Arnett Creek 2017 Field Program
During the 2017 field season, Revival prospected and collected 107 rock samples from Arnett Creek. Samples were generally taken selectively rather than in a representative fashion in order to gain an understanding of mineralization outside the known historic resource on the property.
Samples were selected from dumps, float and very sparse outcrop and submitted to the ALS Minerals sample preparation facility in Elko, Nevada. Gold analyses were performed by ALS Minerals in their Reno, Nevada laboratory and multi-element geochemistry analyses were performed and the ALS Minerals laboratory in Vancouver, British Columbia.
Assay results were received for all 107 samples. Gold values ranged from below detection limit to 91.1 g/t Au. Thirty-seven samples yielded gold values greater than 1.00 g/t Au.
In addition to gaining an understanding of mineralization on the property, the sampling program was intended to prospect ground staked by Revival in August 2017. Areas of interest identified, or validated, at Arnett Creek during the 2017 field program are the Roman's Trench area, near the northern contact of the Arnett Creek stock, and the Italian Mine, Twin Long Drops, Thompson-Hibbs, Shenon Gulch and the Porcupine areas, which occur over approximately 2.5 kilometers of strike near the southern contact of the Arnett Creek stock.
All of the areas noted above have been subjected to limited, historic reverse circulation drilling, but only partial results are available today. Soil sampling and core drilling are planned to follow-up the 2017 field program.
A map of Arnett Creek describing the location of samples is provided below and available on the Company's website.
To view the map associated with this press release, please visit the following link: http://media3.marketwire.com/docs/1104722_Map.pdf
Arnett Creek Plan of Operations
In furtherance of Revival's exploration plans at Arnett Creek, on October 31st, the Company submitted a Plan of Operations ("POO") to the United States Forest Service in Salmon, Idaho. The POO includes an application to permit drill pad locations sufficient for two field seasons of drilling at several prospects on Arnett Creek. The primary focus of planned drilling will be confirmation of the known historic resource at the Little Chief Extension with a secondary focus on several of the other targets sampled during the 2017 field program. Approval of the POO is anticipated in 2018.
Steven T. Priesmeyer, B.Sc., M.Sc., C.P.G., Vice-President Exploration, Revival Gold Inc., is the Company's designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects and has reviewed and approved its scientific and technical content.
About Revival Gold Inc.
Revival Gold Inc. is a growth focused gold exploration and development company. The Company has the right to acquire a 100% interest in Meridian Beartrack Co., owner of the Beartrack Gold Project located in Lemhi County, Idaho. Revival also owns rights to a 100% interest in the neighbouring Arnett Creek Gold Project.
In addition to its interests in Beartrack and Arnett Creek, the Company is pursuing other gold exploration and development opportunities and holds a 51% interest in the Diamond Mountain Phosphate Project located in Uintah County, Utah.
Additional disclosure of the Company's financial statements, technical reports, material change reports, news releases and other information can be obtained at www.revival-gold.com or on SEDAR at www.sedar.com.
For further information, please visit www.revival-gold.com.
Cautionary Statement
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. 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. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Contact
Revival Gold Inc.
Andrea Totino
Investor Relations Manager
(416) 366-4100
info@revival-gold.com
145 King St. W., Suite 2870
Toronto, Ontario, M5H 1J8