Revival Gold (TSXV: RVG) (OTCQB: RVLGF), a growth‐focused gold exploration and development company, on Friday announced its SEDAR filing of an independent technical report prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). According to the update, the report, with an effective date of Nov. 17, 2020, supports the results of a Preliminary Economic Assessment (“PEA”) on Revival Gold’s Beartrack-Arnett phase one heap leach gold project located in Idaho, USA. The company reported results of the PEA in its news release dated Nov. 17, 2020, and there are no material differences in the report from those results. PEA highlights of the Beartrack-Arnett phase one heap leach gold project include, among others: Annual production of 72,000 ounces of gold for a total of 506,000 ounces of gold over an initial seven-year mine life; pre-production capital of $100 million and life-of-mine (“LOM”) sustaining capital of $61 million; and total cash cost of $809 per ounce and all-in sustaining cost of $1,057 per ounce of gold.
To view the full press release, visit https://ibn.fm/F8CWN
About Revival Gold Inc.
Revival Gold 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 former producing Beartrack Gold Project located in Idaho, USA. Revival Gold also owns rights to a 100% interest in the neighboring Arnett Gold Project. Beartrack-Arnett is the largest past-producing gold mine in Idaho. A preliminary economic assessment has been completed for a first phase restart of heap leach operations to produce 72,000 ounces of gold per year over an initial seven-year mine life at an AISC of $1,057 per ounce of gold. Meanwhile, exploration continues to focus on expanding the current indicated mineral resource of 36.6 million tonnes at 1.15 g/t gold containing 1.36 million ounces of gold and inferred mineral resource of 47.1 million tonnes at 1.08 g/t gold containing 1.64 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.
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 Beartrack Arnett Gold Project Lemhi County, Idaho, USA – NI 43-101 Technical Report,” dated Dec. 18, 2020.
Revival Gold has approximately 71.2 million shares outstanding and had a cash balance of approximately C$12.7 million on Sept. 30, 2020. Additional disclosure including the company’s financial statements, technical reports, news releases and other information can be obtained at www.Revival-Gold.com or on SEDAR at www.SEDAR.com.
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