Revival Gold controls two past-producing oxide gold deposits in Idaho
(Beartrack) and Utah (Mercur), that it is advancing towards the potential re-
start of heap-leach operations later this decade. Initial economic studies
suggest potential for Revival Gold to become a 150,000-175,000 ounce per
annum gold producer.
2026 Exploration Plans: yesterday, Revival outlined its plans for this year for
Mercur (Utah) and Beartrack (Idaho).
Mercur Project (Utah): a 12,000-metre drill programme (RC and core) to
upgrade/expand resources, as well as a 4,000-metre drill programme related
to engineering and mine design. Metallurgical testwork will continue (results
expected in Q2/26), along with completion of baseline surveys as part of a PFS
targeted for Q1/2027.
Beartrack/Arnett Creek Project (Idaho): a 3,000-metre drill programme (core)
is currently underway with 2 rigs focused on expanding the higher-grade
underground resources at Joss, and initial drilling of the Sharkey target (fig1).
Recent Exploration Results: earlier this year, Revival provided assay results from
2025 drilling completed at Mercur (fig2):
- 30.5 metres grading 1.00g/t gold
- 38.1 metres grading 0.74g/t gold
- 30.5 metres grading 0.90g/t gold
- 25.9 metres grading 1.8g/t gold
- 21.9 metres grading 1.3g/t gold
- 29.0 metres grading 0.7g/t gold
Investment Thesis Intact: we continue to view Revival Gold shares as an
attractive investment opportunity as they move their two main gold projects
towards development. With no changes to our model, we maintain our 12-
month target price of $2.00/sh and our BUY rating for Revival Gold shares.
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