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Revival Gold Completes Acquisition of Ace Mineral Claims
TORONTO, Sept. 14, 2022 (GLOBE NEWSWIRE) -- Revival Gold Inc. (TSXV: RVG, OTCQX: RVLGF) (“Revival Gold” or the “Company”), is pleased to announce that it has co
About this update from Revival Gold Inc
[{"type":"text","content":" TORONTO, Sept. 14, 2022 (GLOBE NEWSWIRE) -- Revival Gold Inc. (TSXV: RVG, OTCQX: RVLGF) (“Revival Gold” or the “Company”), is pleased to announce that it has completed the acquisition of the ACE Mineral Claims (“ACE Claims”) which are located within the Beartrack-Arnett Gold Project (“Beartrack-Arnett”) located in Lemhi County, Idaho, USA. On September 12th, 2022, the Company paid the remaining US$500,000 option payment under the Bull Run Agreement (announced June 30, 2017) fulfilling all requirements to acquire a 100% interest in the ACE Claims consisting of 68 unpatented mineral claims totaling approximately 571 hectares. The ACE Claims border the known Mineral Resources at Beartrack-Arnett and host several additional prospective gold exploration targets. “We are pleased to have consolidated a 100% interest in the ACE Claims and to have further strengthened Revival Gold’s land position at Beartrack-Arnett,” said Hugh Agro, President and CEO. Qualified Persons Steven T. Priesmeyer, C.P.G., Vice President Exploration, is the Company’s designated Qualified Persons for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects and have reviewed and approved its scientific and technical content. About Revival Gold Inc. Revival Gold Inc. is a growth-focused gold exploration and development company. The Company is advancing the Beartrack-Arnett Gold Project located in Idaho, USA. Beartrack-Arnett is the largest past-producing gold mine in Idaho. Engineering work has been initiated on a Preliminary Feasibility Study (“PFS”) for the potential restart of heap leach operations. Meanwhile, exploration continues, focused on expanding the 2022 Indicated Mineral Resource of 65.0 million tonnes at 1.01 g/t gold containing 2.11 million ounces of gold and Inferred Mineral Resource of 46.2 million tonnes at 1.31 g/t gold containing 1.94 million ounces of gold (see Revival Gold independent NI-43-101 Technical Report by Wood plc dated July 13th 2022 for further details). The mineralized trend at Beartrack extends for over five kilometers and is open on strike and at depth. Mineralization at Arnett is open in all directions. Revival Gold has approximately 86.9 million shares outstanding and an estimated cash balance of C$7.1 million as of June 30th, 2022...