Beartrack Gold Project
In September 2017 Revival Gold announced the execution of an earn-in and related stock purchase agreement with Meridian Gold Company, a subsidiary of Yamana Gold Inc., by which Revival may acquire a 100% interest in Meridian Beartrack Co., owner of the Beartrack Gold Project located in Lemhi County, Idaho.
Beartrack is a former producing gold mine located approximately 17 km north-west of Salmon, Idaho that was the subject of renewed exploration activity in 2012 and 2013. The Project encompasses 6,720 acres (2,720 hectares) and hosts five known mineralized areas within a greater than five-kilometer strike length along the Panther Creek Fault. Mineralization is open to the south-west and at depth.
The Project neighbours Revival’s Arnett Gold Project and serves as the Company’s base for exploration drill hole core logging and storage for both Beartrack and Arnett.
The Beartrack open pit heap leach mine was operated by Meridian Beartrack from 1994 until 2000 and produced approximately 600,000 ounces of gold. The mine achieved a life-of-mine recovery of 87% based on the cyanide-soluble grade from ore processed during heap leach operations. Beartrack was closed at a time when the gold price sunk below US$300 per ounce.
Significant mine infrastructure remains in place at Beartrack including power lines, roads, the ADR Plant and an 11,000 square foot core facility.
In May 2018 Revival Gold announced a maiden NI 43-101 mineral resource estimate for Beartrack defined by 458 core and reverse circulation drill holes totaling approximately 71,000 meters of drilling (see complete report here). Using a gold price of US$1,300/ounce, a 0.61 g/t gold mill cut-off and a 0.26 g/t cyanide soluble gold heap leach cut-off, the pit-constrained Beartrack mineral resource contains:
In October 2018 Revival Gold announced results from an initial phase of metallurgical test work for sulphide (mill) material at Beartrack. Results indicated favourable gold recoveries into rougher floatation concentrate and from cyanidation of flotation tails for the six samples tested with combined gold recoveries ranging from 83% to 99% with overall gold recoveries using ultra-fine grind, conventional flotation and intensive leach of concentrates ranging from 49% to 77%. A second phase of metallurgical test work under the direction of Roscoe Postle Associates Inc. (“RPA”) has been planned for 2019. The program will seek to optimize Beartrack sulphide flotation results while further assessing methods for recovering gold from flotation concentrate, including ultra-fine grinding and pressure oxidation.
In addition to a second phase of metallurgical test work at Beartrack, a follow-up program of core drilling, the permitting of additional drill pad locations and the initiation of a NI 43-101 resource update for the combined Beartrack-Arnett are planned for 2019.
Earn-in to 100% interest
Lemhi County, Idaho