Highlights include drill hole BT22-242D that intersected 3.49 g/t gold over 115.4 metres, including 10.12 g/t gold over 11.4 metres at Joss. This hole was drilled approximately 150 metres deeper than BT21-240D, which intersected 4.34 g/t gold over 110.6 metres drilled width, including 12 g/t gold over 13.7 metres and 8.8 g/t gold over 11.8 metres , further emphasizing the depth potential and scope of mineralization at Beartrack-Arnett.
A total of three core holes targeting the depth extension of mineralization at Beartrack-Arnett have been completed in the 2022 program: two in the Joss high-grade target area and one in the South Pit area. A fourth core hole is under way at Joss.
BT22-243D has been completed at the south end of the South Pit. This hole is intended to extend the trend of higher-grade mineralization at Joss north to the South Pit and intersected stockwork mineralization, as well as siliceous breccia within the target zone. Assay results are pending.
In addition to the drilling at Joss, a second core rig is drilling infill and expansion drill holes in the Haidee oxide target area at Beartrack-Arnett. The first hole, AC22-085D, has been completed with sampling under way.
About 2,900 metres of this year’s planned 5,000-metre core drilling program have been completed at Beartrack-Arnett since the start of drilling in June.
True widths are estimated to be 30% to 60% of drilled width with some veinlets thought to be subparallel to the core axis. The effect of these veinlets on the representative grade of mineralization is currently unknown.
“We’ve hit another long intercept of high grade at Joss,” said Hugh Agro, president and CEO. “Importantly, hole 242D is 150 metres deeper than previous drilling and expands an already impressive body of mineralization. The Joss zone currently extends for more than 1 km in strike and over an average vertical extent of about 500 metres with the average true width of the mineralized zone estimated to be 10 to 30 metres thick. Further results from Joss are expected before year-end,” added Agro.
Beartrack-Arnett is the largest past-producing gold mine in Idaho. Engineering work has been initiated on a preliminary feasibility study for the potential restart of heap leach operations. Meanwhile, exploration continues, focused on expanding the 2022 indicated mineral resource of 65.0 million tonnes at 1.01 g/t gold containing 2.11 million ounces of gold and inferred mineral resource of 46.2 million tonnes at 1.31 g/t gold containing 1.94 million ounces of gold. 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.
Revival has approximately 86.9 million shares outstanding and an estimated cash balance of $7.1-million as of June 30, 2022.