Revival Gold, which has been working to advance the Beartrack-Arnett gold project in Idaho, recently released drill results for the property that were completed by consultant firm Wood.
The updated mineral resource report revealed an Indicated Mineral Resource of 65 million tonnes at 1.01 g/t gold containing 2.11 million ounces of gold, an increase of 56% over the 2020 Indicated Mineral Resource, and an Inferred Mineral Resource of 46.2 Mt at 1.31 g/t gold containing 1.94 million ounces of gold, an increase of 19% over the 2020 Inferred Mineral Resource.
Within the Indicated Mineral Resource, open pit heap leach-contained gold increased by 49% and open pit mill-contained gold increased by 58%.
“The upgrade in Indicated Mineral Resources provides increased confidence in the quality of the resource and will help facilitate planned completion of a preliminary feasibility study (PFS) on the potential restart of gold production at Beartrack-Arnett,” the company said.
Additionally, drilling in the Joss Zone over the past two years has increased mineral resources in this area and supports a more robust cut-off grade of 2.2 g/t gold for the underground mill component of mineral resources at Beartrack-Arnett, the miner said. As a result, the average grade in the underground Inferred Mineral Resource has increased 39% over the 2020 Inferred Mineral Resource to 3.05 g/t gold in a bulk minable long-hole mining scenario.
Revival Gold will be conducting follow-up drilling on high-grade intercepts at Joss so it may enhance the underground resource model.
Mineralization at Beartrack remains open along strike and at depth and mineralization at Arnett remains open in all directions,” according to officials. Exploration continues with 7,000 meters of planned drilling scheduled to begin in late May.
“Revival Gold’s technical progress over the past two years validates our confidence in project geology and the potential we see for Beartrack-Arnett to continue to grow,” President and CEO Hugh Agro said.
“[This] news bodes well for work already underway on a PFS to resume production utilizing existing infrastructure and builds on Revival’s…understanding of additional potential future development alternatives.”