Revival Gold (TSX-V: RVG) CEO Hugh Agro on Positive Soil Sampling Results, Expanded Land Position & Systematic Modern Exploration at the Beartrack-Arnett Gold Project in Idaho
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the President and CEO of Revival Gold (TSX-V: RVG)(OTC: RVLGF), Mr. Hugh Agro. Hugh, how are you this morning?
Hugh Agro: Good to be with you, Gerardo. Thanks for having me.
Gerardo Del Real: Thanks for taking the time. You had some good news today. I keep saying that Revival is on its way towards 3 million ounces. You announced some positive soil sampling results, and you expanded the land position at the past-producing flagship, of course, the Beartrack, now Beartrack-Arnett Gold Project.
But before we talk about the sampling results and the addition of the land package there, I want to talk about London. You're in London right now at the 121 Conference. What is the atmosphere like?
Hugh Agro: Well, it's always great being in Europe as as a gold developer-explorer. They're closer to this ballooning negative interest rate problem among central bankers and savers. So they really appreciate gold and so the mood here is great. About 400 in attendance at the 121 Mining Investment Conference here in London and lots of interest in Revival Gold.
Gerardo Del Real: Excellent. I think 2020 is going to be a breakout year for Revival Gold. I think shareholders that have been patient will be handsomely rewarded. A big reason for that, I mentioned up top, was the march towards 3 million ounces. But not just that. You just completed a pretty extensive soil sampling program that I believe covered over 12 square kilometers.
Can we talk about that cause I understand it yielded some pretty attractive exploration targets for 2020?
Hugh Agro: Systematic exploration using modern tools is the way we wanted to approach this project and surface the real value from it. This is just another step in that direction. We released the results today from the soil sample program and what you really can see from it is that we've got lots of target areas on Arnett.
It's really interesting the anomaly that shows up near our Haidee project area, beyond anything we've drilled yet and in the other areas to the west and to the south. It's pulling out some interesting targets for follow-up drilling next year, immediately next to Haidee, which has got us excited.
Gerardo Del Real: Excellent. You also added an additional 350 hectares bringing the total land position, I believe, to 5,440 hectares. Can we talk about the motivation there?
Hugh Agro: Again, it's part of the systematic exploration. We completed the geophysics and following up on that geophysics, we picked up some more land along strike of the Panther Creek shear zone. We're feeling really good about our land position there.
As you know, we've got about 12 kilometers of favorable shear zone and faults structure for exploration. We've drilled on about just over 5 kilometers of that strike and we've hit in every hole in that system. So we wanted to pick up this additional ground to give ourselves more latitude in the future. Not something we're going to be pursuing immediately next year with our drill programs, but we'll certainly want to have that for future exploration upside.
Gerardo Del Real: Hugh, throughout 2018 and 2019 you completed, I believe, approximately 15,000 meters of core drilling. You have an updated resource estimate that I believe is due in Q1 of 2020. I want to ask about the met work because that's going to be very, very important I believe early on in 2020. How is that coming along?
Hugh Agro: We're making very good progress. We are on track to have results from the met work program by the end of the year. I would say the things that we're looking for are a prospect for improving our flotation recoveries and our recoveries overall. As you may recall, we had assumed recoveries of 84, 85% for the mill material and in our prior resource.
So if we could improve on that, that just goes right to the bottom line. Because, of course, you're paying the same amount of money to get that tonne out of the ground, you want to get more gold out of it. So that's the objective of the program to improve on the recoveries, the flotation results and the overall metallurgy. We'll have those results out before year end.
Gerardo Del Real: Excellent. And resource estimate, we're still thinking Q1 of 2020?
Hugh Agro: Correct. That's the next big milestone for us and the team's working away on that. We've got RPA, Roscoe Postle Associates doing the work. They're a very well-regarded firm, perhaps on the conservative end of things. But at this stage of the project, I think it's wise to be prudent in how we pull this resource together. Our next step in the game as we build towards returns for our shareholders. We'll have those results out Q1 2020.
Gerardo Del Real: A lot of news flow. I'm excited for it. Thank you for taking the time. I'll let you get back to it, Hugh. Appreciate it.
Hugh Agro: Thanks, Gerardo