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Revival Gold (TSX-V: RVG)(OTC: RVLGF) CEO Hugh Agro on Hitting 4.2 Grams Per Tonne Gold Over 25 Meters in First Batch of Drill Assays from South Mercur, Utah
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today, fresh back from a batch of meetings, I’m sure, at PDAC, is the president & CEO of Revival Gold Inc. (TSX-V: RVG)(OTC: RVLGF) — Mr. Hugh Agro. Hugh, how are you today?
Hugh Agro: Excellent, thanks, Gerardo. And sorry we missed you here at PDAC. It was a nice cold Toronto welcome for everybody this year.
Gerardo Del Real: Yep, the amount of things to get done here at home outweighed the amount I thought I could get done there. So unfortunately I missed it, but I definitely got a lot done.
And let me tell you what else got done during PDAC. You had one of the better gold hits of the entire conference.
You hit 4.2 grams per tonne gold over 25 meters at the Mercur Gold Project in Utah.
You’ve got the jurisdiction. You clearly have the grades. These results were exceptional. And look, as volatile as things are out there in the world, gold is still right near the $5,100 level and silver looks great — both clearly in a raging bull market. Can you speak to those results?
Hugh Agro: Yes, we're excited about it. These are the first drill holes out of the South Mercur area at our Mercur Project in Utah, and it's great to see these kinds of drill holes.
Just to put this into perspective, the grade of the one intercept that you referenced is about six times the resource average grade. And this is all in the open-pit heap-leach plan. So this is a real sweetener to that project.
Of course, the geologists are all excited about chasing this further. We're only talking about the top 100 meters of depth, so lots of potential to continue to ride this further at South Mercur. And again, these are just the first holes out of that area.
Gerardo Del Real: The near-surface nature of the mineralization — and it wasn’t a one-off, by the way. I mean, there was a 9.8 grams per tonne gold hit over 5.7 meters. That was at 55 meters downhole.
There was 6.5 grams per tonne gold over 7.1 meters at 35 meters downhole. So it wasn’t just a one-off. I could see why the geologists are excited about chasing it. What comes next as you continue to advance your program here?
Hugh Agro: Well, more drilling, of course.
Gerardo Del Real: There you go.
Hugh Agro: We’ve got to feed the beast. So we’ve got 12,000 meters of drilling that’ll kick off a new drill program in April — so next month. We do have some more results to get out from the current program, so we’ll get those out as well. And we’re also drilling at our Beartrack-Arnett Project. I know you're watching that out of the corner of your eye as well. But two rigs going there, so a ton more drilling to come out of this company.
Gerardo Del Real: Absolutely. And I think you're really undervalued just with today’s comps relative to your peers based on Mercur alone and the potential economics there. Beartrack-Arnett is, of course, a project I’ve always really liked and really wanted to see drilled more aggressively.
Great to hear that there are two rigs over there. Excited to get more results from Mercur and excited to have you back on, Hugh. Anything else to add to that?
Hugh Agro: I think we covered it, Gerardo. This is a gold market that's chasing value in the space. I think the senior gold stocks moved. And for investors that feel like they still want a part of the action, developers like Revival Gold are definitely the place to go.
We're trading at roughly 15 cents on the dollar. Lots of opportunities to see re-rates in the stock with the exploration we've got underway. And we’ll look forward to telling you more about it as we go.
Gerardo Del Real: I’ve got to ask you before you leave, how was the deal flow and the communication with the mid-tiers and the majors?
Hugh Agro: It has jumped. There's lots going on right now. It's a busy time. Think about it from the point of view of these larger intermediate-cap companies who are in the United States. Some of them are now departing other parts of the world just to get back to the United States and enjoy some of the benefits of being close to home. And there are very few opportunities for them to build production profiles.
It has taken us a while to get some love from the intermediates and the senior gold companies in the United States with the assets we have in this jurisdiction. But I think at the scale we're at now with Revival Gold, we're going to see a lot more interest to come. And yes, it’s interesting times for sure.
Gerardo Del Real: Well, I am looking forward to having you back on. Thank you so much for the update, Hugh. Great numbers. Looking forward to more. Thanks.
Hugh Agro: Okay, thanks, Gerardo.
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