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Revival Gold Proves Deep High-Grade Gold Continuity

CEO.CA Aug 7, 2026 6:30

Summary

The guest frames Beartrack-Arnett's 131-metre, 3.43 grams per tonne intercept as proof of underground continuity in a system open in all directions.

Two pending wedge holes are short step-outs testing whether the high-grade zone can be mined efficiently, not whether more ore exists.

Mercur in Utah is the fastest route to cash flow: private land and no water competition, the CEO says, make permitting quicker.

An 18,000-metre infill program upgrades inferred ounces to measured and indicated resources, feeding a pre-feasibility study the CEO calls a big value catalyst.

Follow-up metallurgy is running behind schedule on harder rock, but the CEO still targets a 2028 construction decision and 2029 first gold.

Key points on Revival Gold

  • The guest calls the Merkur preliminary feasibility study, targeted for the first quarter of 2027, the key near-term value catalyst because it gates the permitting and engineering work that follows.
  • Recent Bear Trek jaw-zone drilling returned more than 131 metres at 3.43 grams per tonne gold with cores above 11 grams per tonne, roughly 500 gram-metres, which the guest calls one of the company's biggest intercepts to date in that zone.
  • The host contrasts Bear Trek as the scale asset with Merkur as the fastest route to cash flow, and the guest argues Merkur is comparatively easy to permit and staff because it sits on private land with little water and near a town of about 30,000 people.
  • An 18,000-metre infill programme at Merkur, planned to expand to four rigs, is aimed at converting inferred ounces to measured and indicated; the first metallurgical phase finished in 2025 and follow-up results are running behind schedule but expected before the end of summer 2026.
  • He frames the valuation gap as a de-risking opportunity, about $25 per ounce of gold in the ground against a metal price near $4,000 per ounce as of 2026-08-07, with a construction decision targeted for 2028 and, if all goes well, gold production in 2029.

Hugh Agro's takeaways

  • Top takeaway He argues the current drilling is about proving continuity at Bear Trek rather than the size of the system, with two short wedge step-outs intended to show whether the ore can be mined effectively and efficiently.
  • He presents the recent jaw-zone intercept of roughly 500 gram-metres as the start of underground continuity, on ground explored for about five or six years.
  • He frames Merkur's advantages as de-risking, citing private land with little water to permit, a nearby town of about 30,000 people to staff from, and a PFS in the first quarter of 2027 that he calls a major value catalyst.
  • He concedes the follow-up metallurgical work is running behind schedule, with results expected before the end of summer 2026, and lists metallurgical testing, infill drilling and an on-schedule PFS as the items that must be cleared before a 2028 construction decision.
  • He points to the valuation gap, about $25 per ounce in the ground versus roughly $4,000 per ounce for the metal as of 2026-08-07, arguing company value rises as it de-risks toward final engineering, construction and production.

John Meyer's takeaways

  • Top takeaway Named as Revival Gold's VP of engineering development, he is credited with the engineering team and consultants the guest says are keeping the metallurgical and PFS schedule on plan.