Revival Gold (TSX-V: RVG) CEO Hugh Agro on Resumption of Step-Out Drilling at Beartrack-Arnett Creek 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 afternoon?
Hugh Agro: I'm very good, Gerardo. Thanks for having me.
Gerardo Del Real: I suppose you are. The last time you and I chatted, we talked about a financing that was ongoing, and we talked about getting back to drilling and what that looked like with COVID-19 and the new environment that we are all facing. You had some exciting news today that I believe is going to ignite the share price. You've resumed drilling at Beartrack-Arnett. You have a – to put it mildly – robust treasury.
Can we talk about the drilling? I noticed you were keen to mention that there were going to be several big step-out holes in the program this year, which I am excited about.
Hugh Agro: Yeah, we are very excited about that, Gerardo. Having the treasury gives us ample reason and firepower to go after some of those targets at Beartrack-Arnett that we're all salivating over. But first things first, you got to get a couple rigs up to site and you got to get the crew underway. Our team led by Steve Priesmeyer and Pete Blakeley didn't waste a minute, not even a minute, doing that. We closed the financing at the end of last week and we were drilling with two rigs over the weekend. So there you go.
Gerardo Del Real: Obviously, I've met Pete. I know Steve. I know how effective the Revival team is at targeting high-value ounces. We went through a very in-depth presentation the last time I was onsite and it was incredible to me how targeted the drilling had been up to that point. Can you speak to that process a bit? Because it is very, very methodical and that's not always the case. There's a lot of companies that in a new bull market will raise capital and just, frankly, go out and drill hoping they had something. Not the case with Revival. It's a very, very methodical team and approach. Can you speak to that a bit, Hugh?
Hugh Agro: Good observation, Gerardo. Perhaps we overthink things at times, but these holes that we're drilling right now have been on the plan for over a year and a half. We're obviously permitted to do so, and those permitting plans were initiated a couple of years ago. So these are high-value targets for us.
In the first instance, we're following up on the existing oxide resource at Haidee. It's a satellite deposit to the main Beartrack system. We want to expand on that. So that's the first objective.
The second objective for the program this year – and we'll have more say about this later the month – we want to get in and drill at Rabbit, which is the intersection of a cross-faulting structure with the Panther Creek Shear Zone.
Now, for those who are following the Revival Gold story, they know that the main body of mineralization at Beartrack is hosted within the Panther Creek Shear Zone. We're going to be stepping out 2 kilometers from the footprint of that existing resource to try and demonstrate ongoing potential on that system. The geology is very favorable for a continuation of the mineralization and these drill holes will test. It's going to be an exciting next few months.
Gerardo Del Real: You're already undervalued relative to your gold peers. Gold is at $2,030 an ounce and poised to head higher. You have a great head start of 3 million ounces. I know the march towards 5 million ounces, obviously, is ongoing with two drills turning. How are things coming along with the PEA?
Hugh Agro: PEA work is coming along well. We are in the middle of looking at our exploration program and how we might even accelerate it beyond the 5,000 meters that we started with here. That might come into the PEA, thinking as we go here. Obviously, we've got lots of capability to continue on the drilling program, and we're starting to think about what we'll be doing next year and how the PEA might dovetail into that. So a few more developments here over the next weeks and months as we fine-tune our longer term plans.
But bottom line, we've got lots of exploration targets, we've got open systems at both Beartrack and Arnett, and we've got the cash to go on and pursue aggressively towards that target of better than 5 million ounces on the property.
Gerardo Del Real: What's better than 5 million ounces? More than 5 million ounces. Hugh, thank you so much. Thank you for the time.
Hugh Agro: Okay. Super, Gerardo.