Revival Gold drills 3.9 g/t gold 20.6 metres at Beartrack-Arnett, Idaho

Revival Gold Inc. [TSXV-RVG; OTCQX-RVGF] reported results from eight core drill holes completed in connection with the company’s 2023 exploration campaign at the Beartrack-Arnett gold project in Idaho, United States. Each of the eight holes released today is from the Haidee deposit area and intersected above-cut-off-grade, near-surface oxide gold mineralization.

Highlights: 3.93 g/t tonne gold over 20.6 metres, including 19.6 g/t gold over 1.4 metres and 9.15 g/t gold over 4.3 metres, in hole AC23-115D; 0.93 g/t gold over 12.8 metres and 0.47 g/t gold over 12.01 metres in AC23-106D; 0.55 g/t gold over 16.1 metres and 0.47 g/t gold over 14.3 metres in AC23-105D; and 0.50 g/t gold over 14.4 metres in AC23-110D. True width is estimated to be 50-70% of drilled width.

Two thousand twenty-three drilling at Haidee consisted of 12 core drill holes and was designed to test various targets around the current Haidee mineral reserve.

In addition to the 12 holes at Haidee, Revival Gold completed six core holes in three new target areas at Beartrack-Arnett (Roman’s Trench, Midlands and Ridge) for a total of 18 core drill holes and 3,350 metres in this year’s exploration campaign. Results for two holes at Roman’s Trench were released on Sept. 27, 2023. Results from the remaining eight holes are expected next month.

Results from the eight holes released today include AC23-106D and AC23-115D, which were drilled to offset high-grade mineralization encountered in hole AC22-094D (5.42 g/t gold over 10.2 metres drilled width) on the western flank of the Haidee mineral reserve. Both drill holes from this year’s program encountered additional high-grade mineralization, with hole AC23-115D intercepting mineralization in a potential feeder structure interpreted to have a north-northeast strike and a moderate southeasterly dip. The intersections in AC22-094D, AC23-106D and AC23-115D confirm the presence of higher-grade mineralization outside the current reserve pit shape at Haidee and the potential to meaningfully increase mineral reserves in this area.

“The confirmation of higher-grade, near-surface oxide gold mineralization beyond the current mineral reserve at Haidee is a significant development,” said Hugh Agro, president and CEO. “The results validate our team’s exploration case for higher-grade material and possible feeder structures at Haidee, and they demonstrate tangible potential to meaningfully expand Revival Gold’s proposed Haidee open-pit and heap-leach restart plans for Beartrack-Arnett. We look forward to releasing this year’s remaining drill results in the weeks ahead.”

In addition to drill results from the Haidee target area, Revival Gold has released results from a channel sampling program at Roman’s Trench designed to follow up on initial chip sampling from the Roman’s Trench access. A continuous channel was cut across an 11.9-metre outcrop exposure to obtain a more representative sample set. Eight samples were taken at approximately 1.4-metre intervals along the length of the channel.

Five vertical crosscuts were also taken to characterize the vertical and lateral distribution of gold in the exposure. Gold values ranged from 0.04 g/t to 112 g/t gold, with two additional samples over six g/t gold. Due to the nature of the exposure, samples were collected subparallel to the strike and dip of the vein, so sampled widths do not reflect the true width of the structure. Nevertheless, these results further support the presence of high-grade oxide gold mineralization in the Roman’s Trench area and warrant additional follow-up.

Beartrack-Arnett is the largest past-producing gold mine in Idaho. The project benefits from extensive existing infrastructure and is the subject of a recent preliminary feasibility study for the potential restart of open-pit heap-leach gold production operations.

Since reassembling the Beartrack-Arnett land position in 2017, Revival Gold has made one of the largest new discoveries of gold in the United States in the past decade. The mineralized trend at Beartrack extends for over 5 km and is open on strike and at depth. Mineralization at Arnett is open in all directions.