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Revival Gold Announces Results of Beartrack-Arnett Economic Impact Study
Study Highlights Significant Economic and Social Value to Lemhi County and Idaho TORONTO, Feb. 08, 2021 (GLOBE NEWSWIRE) -- Revival Gold Inc. (TSXV: RVG, OTCQB:
About this update from Revival Gold Inc
[{"type":"text","content":" Study Highlights Significant Economic and Social Value to Lemhi County and Idaho TORONTO, Feb. 08, 2021 (GLOBE NEWSWIRE) -- Revival Gold Inc. (TSXV: RVG, OTCQB: RVLGF) (“Revival Gold” or the “Company”), a growth‐focused gold exploration and development company, announces the results of an independently authored study (“Study”) into the potential economic impacts of the Company’s Beartrack-Arnett Gold Project (“Beartrack-Arnett”) on the local community of Lemhi County and the State of Idaho. Highlights $1.2 billion cumulative contribution to Idaho State Gross Domestic Product (“GDP”) over an eight-year period (one year construction, seven years of operation); 858 average annual full-time jobs supported during operations including multiplier effect with direct employment of 267 personnel at site, plus an additional 506 full-time jobs supported during construction; $87 million and $121 million of cumulative contribution to State of Idaho and Federal tax revenues respectively over the eight-year project life. * All amounts shown are in United States dollars unless otherwise stated. The Study, undertaken by Idaho Regional Economist Steven Peterson, BS, MS, a long-term Associate Clinical Professor at the University of Idaho, Moscow, Idaho, is based on the results of Revival Gold’s Preliminary Economic Assessment (“PEA”) on the proposed first phase restart of open pit heap leach operations at the Beartrack-Arnett gold project located in Lemhi County, Idaho, USA (see news release dated December 18th, 2020). “This Study confirms the broad extent of potential economic prosperity a successful restart of the Beartrack-Arnett project offers Lemhi County, the state of Idaho, and the nation. The project could have a substantial positive impact on employment, skills development and overall economic activity and would bring a much-needed economic boost directly and indirectly to hundreds of families and local businesses in Idaho. Beartrack-Arnett has the potential to support a peak of more than 1,300 high wage full-time jobs representing almost $100 million a year in total compensation largely in a region that suffers from higher unemployment than the Idaho state average,” said President & CEO, Hugh Agro. The PEA outlined a first phase open pit mining and heap leach operation producing an estimated 72,000 ounces of gold per year over a...