Two core holes have been accomplished to this point on the Joss excessive grade gold goal, one intersecting a large, strongly mineralized interval of two.67 g/t gold over 84.6 meters together with 11.79 g/t gold over 2.5 meters and 5.36 g/t gold over 5.8 meters.
The opposite, alongside strike roughly 150 meters north, intersected what seems to be an identical stockwork, additionally hosted by the Proterozoic Yellowjacket Formation, Revival mentioned. Assays outcomes are pending.
Revival Gold launched in November last year a preliminary economic assessment (PEA) on a 1st part 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 website.
“Beartrack-Arnett ranks as one of many highest grade and largest independently owned undeveloped open pit gold tasks within the US,” Revival Gold CEO Hugh Agro instructed MINING.COM on the time.
A second drill rig arrived on the mission this week and is being mobilized to the Haidee heap leach gold goal space, the place an extra 2,500 meters of drilling, together with geotechnical, hydrological and roughly ten exploration core holes, are deliberate for this season.
“Excessive-grade gold mineralization is strictly what we have been hoping to seek out at Joss and immediately’s outcomes proceed to display the numerous scale and high-grade potential of this space at Beartrack-Arnett,” Agro mentioned in Thursday’s press launch.
“We are actually underway on a big step-out drill gap and anticipate additional assay outcomes from Joss by early September. Work has additionally commenced at Haidee the place we’ve potential so as to add close to floor leachable sources and optimize engineering elements for our part one mine restart plan,” Agro mentioned.
Revival Gold’s inventory was up 5% at market shut in Toronto. The corporate has a $40.3 million market capitalization.