Revival Gold Inc.'s shares rose by nearly 19% on May 29 after it announced a National Instrument 43-101 resource estimate for the past-producing Beartrack gold project in Idaho.
The property hosts 1.2 million ounces of gold within 33.4 million tonnes at 1.13 g/t of gold in the indicated category, and 765,000 ounces of gold within 16.9 million tonnes at 1.41 g/t of gold in the inferred category. A gold price of US$1,300/oz, a 0.61 g/t of gold mill cutoff and a 0.26 g/t of cyanide soluble gold heap leach cutoff were used in the estimate.
According to the statement, the resource is defined by 458 core and reverse circulation drillholes totaling about 71,000 meters.
Revival Gold has now resumed exploration drilling with 8,000 meters planned for Beartrack this year and a further 2,000 meters planned at the nearby Arnett Creek property. The company also started metallurgical testing for Beartrack, with initial results expected in the third quarter.
