Revival Gold provides update on exploration, development program

Revival Gold provided further details and an update on planned exploration and development activities on the Company’s gold development projects located in the western United States. Revival Gold has contracted Kappes Cassiday Associates to serve as principal consulting engineering firm to prepare a Preliminary Economic Assessment for the Company’s recently acquired Mercur Gold Project in Utah, USA. Completion of the Mercur PEA is targeted for the end of Q1 2025. In support of a PEA, KCA has initiated five-column leach metallurgical tests on geologically representative drill core composites from Mercur. The objective of these tests is to support updated heap leach recovery estimates. Initial results are expected within the next two months. A detailed review of Mercur historical data has been initiated. This includes scanning paper format drill data and reports, including metallurgical test results and production data. The objective of this effort is to make use of all available historical Mercur data to improve the current geological and geochemical model for the project. With the start of spring, Revival Gold’s exploration team has resumed field work on the Company’s Beartrack-Arnett Gold Project in Idaho, USA. The primary focus of this year’s work is on mapping and surface sampling in underexplored areas of the Company’s 5,800-hectare land position. A forty-line-km gradient-induced polarization survey has been scheduled to map additional prospective structures within the Leesburg Basin in the Sharkey target area. A forty-line-km ground magnetics survey has been scheduled to cover the Ridge Target designed to better understand the structural environment of favourable drill results from the 2023 drilling program. The exploration team will move over to Mercur later this year to undertake a property-wide assessment, selective geochemical sampling and reconnaissance. Efforts will focus on the stratigraphic section at Mercur to evaluate the favourability of previously underexplored geologic units that host economic gold mineralization. Revival Gold plans to initiate work next quarter on a draft Plan of Operations for Beartrack-Arnett. Meanwhile, work continues to re-evaluate the potential heap leach restart mine permitting schedule and baseline data collection steps for the project.