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Revival Gold Files NI 43-101 Preliminary Feasibility Study Technical Report
TORONTO, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Revival Gold Inc. (TSXV: RVG, OTCQX: RVLGF) (“Revival Gold” or the “Company”), has filed on SEDAR a technical report
About this update from Revival Gold Inc
[{"type":"text","content":" TORONTO, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Revival Gold Inc. (TSXV: RVG, OTCQX: RVLGF) (“Revival Gold” or the “Company”), has filed on SEDAR a technical report prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) on the Beartrack-Arnett Heap Leach Project (“Beartrack-Arnett” or the “Project”), titled “Preliminary Feasibility Study NI 43-101 Technical Report on the Beartrack – Arnett Heap Leach Project, Lemhi County, Idaho, USA” (the “Technical Report”). The Technical Report supports disclosure made by the Company in its news release dated July 11th, 2023, titled “Revival Gold Marks Impressive Continued Growth in Mineral Resource and Advances Open Pit Heap Leach Restart Plans with PFS”. There are no material differences in the Technical Report from those results disclosed in the July 11th, 2023, news release. Mineral Resource Update Highlights The updated Mineral Resource is based on 172,244 meters of drilling through the end of 2022 and contains: A Measured & Indicated Mineral Resource of 86.2 million tonnes at 0.87 g/T gold containing 2.42 million ounces of gold1, an increase of 14% over the 2022 Measured & Indicated Mineral Resource2; and, An Inferred Mineral Resource of 50.7 million tonnes at 1.34 g/T gold containing 2.19 million ounces of gold1, an increase of 13% over the 2022 Inferred Mineral Resource2; Contained gold in open pit heap leach Measured & Indicated Resources increased 142%2 to 42.3 million tonnes at 0.70 g/T gold containing 959,000 ounces of gold with additional Inferred Resources of 6.3 million tonnes at 0.53 g/T gold containing 108,000 ounces of gold; and, Contained gold in underground mill Inferred Resources increased 180% to 6.7 million tonnes at 4.0 g/T gold containing 877,000 ounces of gold with a 33% increase in grade over the 2022 Inferred Mineral Resource2. Open Pit Heap Leach Restart PFS Highlights Inaugural Proven & Probable open pit heap leach Mineral Reserve of 36.2 million tonnes at 0.74 g/T gold for 859,000 ounces of gold3; Average gold production of 65,300 ounces of gold per year, for a total of 529,100 ounces of gold over an eight-year mine life; Pre-production capital of $109 million, working capital of $5 million, and life-of-mine (“LOM”) sustaining capital of $100&n...