Categories: Precious Metals
Topics: General Precious Metals

Revival Gold (TSX-V: RVG) CEO Hugh Agro on More High-Grade Drill Results at Beartrack Gold Project and Plans for an Expedited Resource Update

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)(OTC: RVLGF), Mr. Hugh Agro. Hugh, how are you this morning?

Hugh Agro: Excellent, Gerardo.

Gerardo Del Real: I bet you are. Let me start by congratulating you. The last time we spoke, you had initial assay results from the past-producing Beartrack property. You had an excellent, excellent news release this morning. So congratulations on that. Let me read the headline real quick and then I'd love for you to fill in the details, Hugh. The headline reads, “Revival Gold intersects 3.51 grams per tonne gold over 67.5 meters, and 2.76 grams per tonne gold over 51.9 meters at Beartrack.” Very important to note it's near surface, and these results compare favorably with the historic drilling at Beartrack. I'd love for you to touch on those points and just provide some color, Hugh.

Hugh Agro: You bet, Gerardo. Thanks for having us on, and happy to put some color to this. We're very excited here at Revival Gold about these results. This is the last 8 holes of 12 we drilled in 2017. And recall our targets with this drilling were, number one, to confirm the historic resource at Beartrack, a former producing mine, and secondly to test the potential at depth. These holes certainly validate the historic resource, and they give us a lot of confidence to move forward on the project. The historic grade at Beartrack is in the order of 1.5 grams per tonne. If you look at these intercepts, we're well above that. This is super, super news for us. The widths are also very encouraging.

Gerardo Del Real: Wonderful. Now, I noticed in the release that you mention the preparation for the updated 43-101. The last time that we spoke, Hugh, you mentioned that it'd likely happen sometime in the second half of 2018. Is that still the line of thinking, or are you pivoting and maybe pushing that deadline forward in light of these excellent results?

Hugh Agro:  Our confidence level has gone up quite a bit here, and I think we're going to push forward on a more accelerated basis with the updated resource estimate for Beartrack. We'll have more to say about that in about a month's time. We'll come out with more of an exploration update, including a more detailed timing about the expectations for an updated resource estimate. The conclusion from our technical team is that we will be able to focus our 2018 drilling on more expansion than validation, and for that reason, we could move forward now more quickly with an updated resource.

Gerardo Del Real: Well, I look forward to that. I've always said that the management team at Revival Gold, and it starts with you, is among the most pragmatic and professional in the junior space. I understand that the 2018 program's going to consist of approximately 8,000 meters. To speak to that pragmatism, you're already planning drill hole locations for 2019. Is that correct?

Hugh Agro: Yes. As part of our program, we'll get in there this year with permit application to be drilling up in the Allen Creek area. As you know, this is a 5 kilometer strike of mineralization. We've tested two of those areas with these drill results at Ward’s Gulch and at South Zone. We want to get into the Allen Creek area in 2019. We'll certainly be testing more at depth elsewhere on the project area.

Stepping back to 2018, the focus will be on expanding the historic resource, and we'll be coming out with our updated resource here on a more expedited basis for the project. This is a project that has a history of production. We see the potential both to bootstrap and to expand into a much larger scenario here at Beartrack.

Gerardo Del Real: The drill program this year, I'm excited about it, because the step-outs seemed pretty aggressive. I know that when I was onsite last year, Steven spoke to the fact that you guys understood the geological model pretty well. You said earlier in this interview that you're a lot more confident than you were going into it. Did that contribute to the aggressive step-outs and the extensions that you're seeking in the next round of drilling, Hugh?

Hugh Agro: Yes. I would say that's the case, Gerardo. In fact, the preliminary plan for 2018 will in all likelihood be revised in the next couple of weeks here, now that we've got these results in, the results announced today. As I said, we'll be focusing more on step-out than infill. Again, we'll have more details on that in about a month or so time, so watch, definitely watch this space as we think about expanding the resource potential at Beartrack.

Gerardo Del Real: Well, that's a lot of catalysts, but those aren't the only ones. We have the drill program, we have the updated 43-101 resource estimate, but you're also going to be drilling at Arnett Creek, which is of course, a neighbor of Beartrack. Can you touch on that just a bit, Hugh?

Hugh Agro: Yes. 2,000 meters there are planned for this drill season. We like Arnett Creek because it's complimentary to what we have at Beartrack. There's oxide resources there, close to surface. If you recall, last field season we did a rock sample program. We found some very encouraging results of the 107 rock samples we took onsite there. We had over a third of them at over 1 gram per tonne, and we've identified some long strike lengths of up to 2.5 kilometers of potential mineralization, and so we want to get in and then drill those.

We've got a permit application in, and subject to receipt of that permit, we'll be in drilling another 2,000 meters for the company at Arnett Creek. That's a total of 10,000 meters planned for 2018.

Gerardo Del Real: It's important to note that you are fully funded for 2018. Is that correct?

Hugh Agro: We are. We've got $7.4 million in the bank. We've got our super supportive shareholders. Our program at Beartrack will run at about $4.4 million. These are Canadian dollar figures. And our program at Arnett Creek will run at about $1 million. We're in good shape financially.

Gerardo Del Real: Well, Hugh, congratulations once again. 2018 is shaping up to be a pivotal year for Revival and for shareholders. I encourage everyone to go to Revival's website. It's revival-gold.com. Hugh, is there anything else that you'd like to add? I know you'll be in Vancouver, I believe, here as conference season kicks off. Is that correct?

Hugh Agro: We'll be at the Vancouver Investment Conference and would love to meet with shareholders or interested groups there, Sunday and Monday next week. We'll be also at the BC Roundup Conference. Please feel free to get in touch and stop by the booth, love to talk about the project with folks.

Gerardo Del Real: Excellent. Thank you so much for your time today, Hugh.

Hugh Agro: Thank you.

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