It's a 'have your cake and eat it too' project - Revivial Gold
Revival Gold's CEO said his company has a brownfield site ready to deploy and an exploration program that just keeps going.
CEO Hugh Agro spoke to Kitco in early March.
Revival Gold (TSXV:RVG) is an exploration and development company, which is advancing the Beartrack-Arnett Gold Project in Idaho. Beartrack-Arnett is the largest past producing gold mine in the state, hosting a multi-million ounce resource of gold with lots of infrastructure. Preliminary plans are for a restart of open-pit heap leach operations, which will produce 72,000 ounces of gold per year.
"It's an exciting project...because we've got all of this brownfields infrastructure, an ADR gold processing facility, ready to be redeployed," said Agro.
The company released a preliminary economic assessment in November. The company is working towards a prefeasibility study for 2022.
The company has also had success with its exploration program. In March, the company said wide-spaced drilling showed consistent high-grade sulphide gold mineralization that extends over one kilometer from the south end of the South Pit area.
"We've got this opportunity to add to the mine life," said Agro.
"The plan is currently sitting at seven years of mine life at the restart, but we think we've got at least another two-three years of oxide production to put into the plan and $30 to $40 million a year of free cash flow."
"It's kind of a have your cake and eat it, too, kind of project. We've got this wonderful, meaningful restart opportunity. And then the exploration just keeps going."