8,000 Meter Drill Program at Former Producing Gold Mine | Hugh Agro
Hugh Agro, President & CEO of Revival Gold speaks about the companies two principal gold projects.
“Revival Gold is pursuing growth in gold. We see a growing gap between the pace of global production and the pace of discovery. We aim to address that gap with quality projects located in North America. Our principal projects are the former producing Beartrack Mine and neighboring Arnett Project. We are located in the mining friendly state of Idaho and enjoy all the benefits of existing infrastructure.
More than three point five million ounces of gold have been produced and are discovered at Beartrack / Arnett. We have mineralization across five kilometers of trend within the Panther Creek fault. We have one point three million ounces of indicated resource and an additional 700,000 ounces in the inferred category at Beartrack. Our company is underway with an 8,000 meter drill program at Beartrack and two rigs. We have 400,000 ounces of historic resource at Arnett.
Revival Gold is permitting over 50 drill pad locations and expect to be in drilling with a further 2,000 meters. We expect to release initial drill results from our current drill program at Beartrack this fall. Collectively we have delivered billions of shareholder value over the course of our careers. Last year we recognized as one of the top five performing gold stocks on the Junior Venture Exchange. We’ve done it before and I am fully confident that we do it again.” – Hugh Agro, President & CEO of Revival Gold
Purchase Agreement with Meridian Gold Company
In September 2017 Revival Gold announced the execution of an earn-in and related stock purchase agreement with Meridian Gold Company, a subsidiary of Yamana Gold Inc., by which Revival may acquire a 100% interest in Meridian Beartrack Co., owner of the Beartrack Gold Project located in Lemhi County, Idaho.
Beartrack is a former producing gold mine that was the subject of renewed exploration activity in 2012 and 2013. The Project encompasses 3,496 acres (1,415 hectares) and hosts five known mineralized areas within a five-kilometer strike length along the Panther Creek Fault. Mineralization is open to the south-west and at depth.
The Project is at approximately four miles east of Revival’s Arnett Creek Gold Project and will serve as the Company’s base for exploration drill hole core logging and storage for both Beartrack and Arnett Creek.
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