The historic operation produced about 100,000 ounces a yr in Nineteen Nineties, however was shut down in 2000 when the worth of gold fell under $300 an oz. Revival has 100% curiosity within the challenge, which spans about 5,400 hectares and drilling has been ongoing since.
Revival Gold was based in 2017 round a property consolidation of the Beartrack-Arnett gold challenge, a land place which Agro, former EVP of Kinross Gold, mentioned dates again to the primary governor of the state of Idaho, George Shoup. The corporate picked up the declare place from a descendant of Shoup.
Revival Gold launched in November final yr a preliminary financial evaluation (PEA) on a 1st section heap leach restart. The PEA outlines 72,000 ounces of gold per yr at all-in sustaining prices (AISC) of $1,057 for the preliminary seven years of mine life on the brownfield web site.
“Beartrack-Arnett ranks as one of many highest grade and largest independently owned undeveloped open pit gold initiatives within the US,” Revival Gold CEO Hugh Agro advised MINING.COM on the time.
The newest drill outcomes highlights embody 4.34 g/t gold over 110.6 meters together with 12 g/t gold over 13.7 meters and eight.8 g/t gold over 11.8 meters. BT21-240D; BT21-240D intersected the Panther Creek Shear Zone (“PCSZ”) within the Joss goal space at about 430 meters downhole (about 350 meters depth) mid-way alongside strike between drill holes BT21-237D and BT21-238D
True width is estimated to be between 35% and 45% of drilled width. Un-cut fireplace assay grades.
5 holes had been drilled within the Joss goal space in 2021. Holes BT21-237D, BT21-238D and BT21-240D all intersected mineralization inside the PCSZ. Holes BT21-236D and BT21-239DB had been deserted earlier than intersecting the PCSZ in post-mineralization Tertiary rocks on account of tough drilling circumstances. Nonetheless, drill gap BT21-239DB intersected fracture-controlled sericite alteration in metasediments of the Yellowjacket Formation, the host rock for mineralization within the Joss space.
“It is a game-changing gap because it hosts the highest-grade gold intersections launched up to now from the Joss goal space. With BT21-240D we are actually starting to see the complete potential of the Beartrack-Arnett gold challenge”, CEO Hugh Agro mentioned within the media assertion.
“The excessive grades and substantial widths of mineralized construction encountered in BT21-240D reinforce our enthusiasm for the challenge’s underground potential and the opportunity of it being developed right into a extremely worthwhile and long-life mining operation. We now have had a really excessive success charge drilling within the PCSZ alongside greater than 5 km of strike and we look ahead to the resumption of drilling at Joss within the new yr,” Agro mentioned.
Revival Gold’s inventory surged over 14% on TSX in early buying and selling Thursday. The corporate has a $36.1 million capitalization.