FAQs
What are Revival Gold’s primary operations?
Revival Gold’s key exploration assets include the Beartrack Gold Project and the neighbouring Arnett Creek Gold project, which are both located in Lemhi County, Idaho. The Beartrack Gold Project last operated in the 1990’s and produced an average of about 100,000 ounces of gold per year. The Arnett Creek Gold Project adjoins the Beartrack Gold Project. Idaho is an important mineral producing state with a long history of mining. The state offers a constructive permitting and operating environment, in addition to established infrastructure and a skilled work-force. Revival’s corporate headquarters are located in Toronto, Canada and the Company’s field office is in Salmon, Idaho.
Why is the company considering a two-phase development for Beartrack-Arnett?
The Beartrack-Arnett project hosts different kinds of gold mineralisation which require different processing methods to extract the gold. The oxide and some of the transitional mineralisation can be extracted using a relatively simple heap leach process. The sulphide and some of the transitional mineralisation is best processed in a conventional mill which would include flotation and pressure oxidization.
Taking a two-phased approach enables the company to best manage and lower the initial capital cost of building a mine. The company can develop the relatively inexpensive heap leach operation and use the cash flow that generates to provide some of the funding for a potential subsequent mill development. This both reduces project execution risk and shareholder dilution.
When will Revival Gold commence mining?
Revival Gold is currently focused on exploration and engineering activities. Any potential initiative to re-start mining operations at Beartrack-Arnett will be dependent on the definition of economic project, the approval of all local, State and Federal government authorities, community endorsement and necessary financing.
What are the key milestones and goals for Revival Gold?
Revival Gold is currently focused on exploration at the Beartrack-Arnett gold project. Key milestones at Beartrack-Arnett include drill testing along 7-8 km of indicated strike in the main Panther Creek Shear Zone trend to expand current mineral resources, especially for high-grade resources in the Joss area. The company is also drilling to expand leachable resources, particularly around the Haidee deposit. The company will update its current mineral resource estimate and completing a pre-feasibility economic study in 2022.
Can you permit a mine in Idaho?
Idaho has produced precious metals for more than a century and continues to do so throughout the state. The state recognizes its mining heritage and the importance of this sector to its economy and supports mine developments that are undertaken to the highest environmental and social standards. The permitting process is rigorous and addresses both state and federal permitting requirements. The key permit relates to the environmental impact assessment, a process that takes two- to three-years and is based on significant scientific research and data collection. As a brownfield site, some of the ground the project will use has already been disturbed by mining and much of the baseline environmental information required to restart operations is available.
What is the benefit of having a brownfield site?
A significant part of the capital cost of a mine development project is installing the infrastructure the mine will need to operate. This often includes powerlines, roads, camps for workers and plant facilities, which can represent tens of millions of dollars of investment, or even more, depending upon a project’s location. As a former mine, the Beartrack-Arnett project already has roads and hydro power to site as well as the ADR plant where the gold bars were produced. It also means some of the ground the project will use has already been disturbed by mining and the site already has some of the permits it will require to restart operations.
How long until you can make a production decision?
The Beartrack -Arnett project currently has a preliminary economic assessment, which is an initial outline of what the project may look like economically. The next step is to complete a pre-feasibility study which goes into more detail about the technical and financial aspects of the project. The company is looking to complete this step in 2022 together with an update to its mineral resource estimate. After that, the next step will be for Revival to complete a feasibility study which will allow the company to raise finance to build the mine. This could potentially be completed in 2023 or 2024.
If Beartrack-Arnett is a former mine, why is there any gold left to exploit?
The short answer is changing technology and higher gold prices. Improvements in exploration processes allows us to target and find mineralisation that the previous operators did not have the ability to do. Mining and processing technology has also improved in the intervening decades which means we now have better tools and can exploit the different types of mineralization. All of this is within the context of higher gold prices which make it feasible to exploit mineralization that was uneconomic in the past. Higher gold prices allow the company to invest in exploration and the development of mine and plant infrastructure which the lower prices of the past did not.