Categories: Precious Metals
Topics: General Precious Metals

Revival Gold (TSX-V: RVG) CEO Hugh Agro on Latest High-Grade Assay Results at Beartrack and Additions to Management Team

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is President and CEO of Revival Gold (TSX-V: RVG), Mr. Hugh Agro. Hugh, how are you this afternoon?

Hugh Agro: Fantastic today, Gerardo.

Gerardo Del Real: I bet you are. The last time we spoke, and I think it was a little bit over a month ago, I had mentioned how excited I was for this drill program at Beartrack. We received the first set of assays this morning. I got to say that my excitement proved to be justified. Let me just read the headline and I'd love for you to fill in the details, but the headline reads, "Revival Gold Intersects 1.94 g/t Gold Over 65.1 Meters Near Surface at Beartrack." That wasn't a one-off, there were several intercepts. You announced four holes today. Can you fill in the details for us, Hugh?

Hugh Agro: You bet. As I know some of your subscribers will be aware, we had planned this drilling and were highly anticipating the results. We came out with this 1.9 grams over 65 meters as a headline and reflective of the results we got near surface at Beartrack. We're very excited about it. It means a lot for our work program, both in terms of resource estimate ultimately at Beartrack and our drilling plans in '18. This is success.

Gerardo Del Real: Well, let me go over a couple of the other intercepts. The first one was the 1.94 grams per tonne gold over 65.1 meters. As important is that the mineralization starts at 74.2 meters. That, I think, was key. Hole 196D was 1.73 grams per tonne gold over 60.4 meters from 78.3 meters, and hole 198D was 1.39 grams per tonne gold over 37.1 meters from 144.5 meters. That's got to give you some confidence when you look at the model and you look at the historic drilling. Of course, this is a past-producing property that's an advanced stage property. It's definitely not a greenfields project. But you have to be happy and confident going into 2018 in respects to the model and what you were hoping for.

Hugh Agro: Gerardo, thank you for that. Those details are very important. As you know, these are close to surface, so 30 meters from surface down to, call it, 120 meters at the deepest point. The holes were drilled at angles so that's why I say these are quite shallow results, which is great from a mining point of view, of course. There are three of the four holes. We drilled a total of 12. And we'll be releasing the remaining eight holes in January. We targeted two areas close to surface at Beartrack. One, Ward's Gulch area, which is what we've released. The second being the South Pit area, which we'll release in January.

What this means for us is that we've got confirmation of the historic resource and we can now start to move to updating the geological model with these results and with the holes that are to come, as well as holes that were drilled in 2012 and 2013. So a total of 13,000 meters of new drilling will go into our geological model which we'll start updating here presently. This is a great development for us.

We also targeted some deep mineralization at Beartrack. As you know, the deposit is mineralized along five kilometers of strike. There's five areas of mineralization within that five kilometers that have shown some pretty high grades. We put two holes into the high-grade areas there. We picked up the structure and we intersected mineralization, not quite the sort of grades that were the bonanza grades we saw in BT175, that is drill hole 175. But there's lots of potential on this structure at depth as well. I guess the low hanging fruit is up close to surface and we're super happy with where we got to with that, but we've got lots of potential at depth to continue to pursue as well.

Gerardo Del Real: Excellent. Now, obviously, we're excited for the pending assays, we'll get those in January. Let me ask you this, Hugh. I imagine that the confidence that these drill results gives in respects to the model, as I mentioned earlier, would allow you to look at drilling in 2018 for resource extensions. Would that be accurate?

Hugh Agro: Yes, very good point. Because of the high confidence we have from this drilling in the historic model, we will be repositioning some of the holes that we'd planned for 2018, with a view to extending the resource rather than just confirming resource. That's an efficiency gain for us. We'll also be able to do some holes for metallurgical testing and we'll be able to be more efficient with what we're doing overall. So that's a great development as you pointed out.

Gerardo Del Real: Wonderful. Now, you haven't just been busy in the field. You've also been very busy behind the scenes and at the corporate level. You had some appointments recently to the board that, frankly, just really, really adds to what was already a quality team. I'd love for you to touch on that, Hugh, and just provide the details there because I think the new appointments are going to serve shareholders very well in the future.

Hugh Agro: Yeah. So, Revival is a growth company. We were just recognized today as one of the top 10 best junior gold stocks on the TSX-V. The team that's taken us this far has done a super job but we're always working to augment the team and build on our capabilities and our strengths. Following our AGM at the end of November, we moved with the appointment of Wayne Hubert to the Board of Directors. Wayne has been advising the company as a strategic advisor but he's stepped up to the board.  A former CEO of Andean Resources which was sold to Goldcorp for $3.5 billion in 2010. Wayne's the CEO of InZinc Mining, he's got a long history at the Beartrack project with Meridian Gold where he spent a number of years. He's just a super addition.

As well, we appointed Adam Rochacewich to CFO. Adam is an executive with a long history in the mining industry, having worked for Xstrata. He's a CA and CPA. He's worked in the junior industry as well so he knows that side of the business, and strengthens our team as CFO.

The third appointment we made was a gentleman by the name of Phil Walford. Very seasoned explorationist, the CEO of Marathon Gold. Phil's become a strategic advisor who's got a long history in exploration and familiarity with the sorts of systems that Beartrack is, and a real value add to our exploration team and our effectiveness as an exploration team.

So, not only are we building on the asset with the results we announced today, but as you heard there, we've also been building up the team.

Gerardo Del Real: Wonderful. Now, this is the first part of a two part program which will, of course, commence once again in January of 2018. When do you think we'll have details as to the targets, Hugh? Or can you share some of those details already?

Hugh Agro: Yeah. We've already got permits to commence with the drilling in '18, we have a number of drill pad locations already specified along the Panther Creek Fault. We'll be pursuing more drilling in the Ward's Gulch area. We'll be pursuing more drilling in the South Pit area, and we'll be also into the Joss area. Those are the three target areas for 2018. As I said, we've already got pad locations specified. We might move those a little bit, adjust them to optimize based on the complete drilling results from 2017. But in large part we're well planned for 2018. Those who are interested can see that drill plan on our website, it'll be up there within the next day on our website on the page for Beartrack mine. 

Gerardo Del Real: Fantastic. And you're also fully funded, which is important.

Hugh Agro: Yeah, we did a financing a couple months ago. We've got, I would guess about $8 million post the plan that we've executed on thus far in 2017. That gives us substantial cash to continue with the programs in 2018 and deliver some meaningful milestones, including, as you know, we want to get an updated resource out before the end of the year 2018. We want to get permitting in the Allen Zone of Beartrack. We've got plans to be drilling at Arnett Creek, a neighboring project to Beartrack, in 2018. We are pursuing an OTC US listing for Revival Gold which should come into effect the end of this year or early next. Lots happening.

Gerardo Del Real: Should be an exciting 2018. Hugh, I want to thank you for your time today. I hope to have you back as soon as we get the next set of assays in. In the meantime, have a great, great holiday and thank you again.

Hugh Agro: Happy holidays to you.

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