Gold Explorer Warrants Top Pick Status

Gold Explorer Warrants Top Pick Status

In an Oct. 3 research note, analyst Gabriel Gonzalez reported that Echelon Wealth Partners continues to consider Revival Gold Inc (TSXV:RVG) a Top Pick, as the company’s 2019 exploration program results “firm up the Beartrack-Arnett Creek thesis.”

That thesis is that potential exists for restarting a mining operation on the properties, perhaps first launching a heap-leach operation that capitalizes on the existing infrastructure at Beartrack and then moving to a larger-scale milling operation at Beartrack.

“We believe the combined Beartrack-Arnett Creek properties could yield a potentially compelling mining project for any intermediate to senior gold producer,” commented Gonzalez.

Through its 2019 exploration program, Revival extended mineralization at Arnett Creek, and a geophysics survey suggested further attractive potential there. As such, the explorer is updating its geological model such that it will inform additional Arnett Creek exploration.

As for what’s next, Revival should release phase 2 metallurgical test results on Beartrack’s mill feed before year-end 2019. Then in Q1/20, the company intends to complete a resource update that should outline additional growth potential at both properties. “On a headline basis, we expect the new resource to provide a maiden NI 43-101 compliant resource for Arnett Creek,” Gonzalez indicated.

Echelon has a Speculative Buy rating and a CA$1.90 per share 12-month price target on Revival. Its current share price is about CA$0.67.

“We believe that beyond 12 months, Revival could delineate a 3,000,000-plus ounce resource to support a preliminary economic assessment,” Gonzalez concluded.

Gold Explorer Warrants Top Pick Status

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