Two core holes have been completed to date on the high grade Joss gold target, one intersecting a large, highly mineralized interval of 2.67 g / t gold over 84.6 meters including 11.79 g / t d ‘gold over 2.5 meters and 5.36 g / t gold over 5.8 meters.

The other, along the direction about 150 yards to the north, intersected what appears to be a similar stockwork, also hosted by the Proterozoic Yellowjacket Formation, Revival said. The results of the analyzes are pending.

Revival Gold published in November of last year a Preliminary Economic Assessment (PEA) on a restart of the 1st phase heap leaching. The PEA describes 72,000 ounces of gold per year at an all-inclusive sustaining cost (AISC) of $ 1,057 for the first seven years of mine life at the brownfield site.

“Beartrack-Arnett ranks among the highest grade and largest undeveloped surface gold projects in the United States,” Hugh Agro, CEO of Revival Gold, told MINING.COM at the time.

A second drilling rig arrived on the project this week and is mobilized in the Haidee gold heap leach target area, where an additional 2,500 meters of drilling, including geotechnical, hydrological drilling and approximately ten exploration cores. , are planned for this season.

“The high grade gold mineralization is exactly what we hoped to find at Joss and today’s results continue to demonstrate the significant scale and high grade potential of this zone at Beartrack-Arnett,” Agro said in Thursday’s press release.

“We are now in the process of doing a large extension drill hole and expect more assay results from Joss by early September. Work has also started at Haidee where we have the potential to add leachable resources near the surface and optimize the engineering factors for our phase one mine restart plan, ”said Agro.

Revival Gold stock was up 5% at the close of the Toronto market. The company has a market capitalization of $ 40.3 million.