Revival Gold Advances with Key Drilling and Development at Mercur Gold Project

Revival Gold Inc. (TSXV: RVG, OTCQX: RVLGF) is steadily advancing its Mercur Gold Project in Utah, marking significant progress in its drilling and development efforts as it moves toward a Preliminary Feasibility Study (PFS) and eventual mine permitting scheduled for 2026. This year’s ambitious drilling program aims to convert a substantial portion of the project’s inferred resources into measured and indicated categories, while laying the groundwork for future production.

Since July, two drilling rigs have been active at Mercur, completing roughly 3,200 meters of a planned 13,000-meter drilling program designed to support resource expansion and metallurgical testing. The core drilling focuses on collecting high-quality samples from the east walls of the Main Mercur pits and the Rover area for column leach testing, while reverse circulation (RC) drilling targets infill drilling in the Marion Hill and Rover zones to verify and expand historical data. Revival Gold’s use of technology, including machine learning applications by Datarock Pty Ltd to analyze chip tray images, is enhancing data interpretation and adding depth to the geological modeling work underway. Optical televiewer imaging collected from core holes further supports geotechnical studies critical to project design and safety. 

The planned 13,000-meter campaign, comprising 10,000 meters of RC and 3,000 meters of core drilling, is central to Revival Gold’s efforts this year to convert about 40% of Mercur’s gold resource from inferred to higher confidence measured and indicated categories. This improved accuracy will underpin the PFS and is expected to drive a clearer economic understanding of the project. Some of the drilling also explores potential resource extensions beyond currently defined zones, particularly at Rover and South Mercur, the latter subject to permitting approval from Utah’s Division of Oil, Gas and Mining. The integration of various expert consultants, including Stantec Consulting, KTW Environmental Consultants, Kappes, Cassiday & Associates, Subterra LLC, and RESPEC Company LLC, reflects a deliberate strategy to support environmental baseline studies, metallurgical test design, geotechnical modeling, and updated 3D resource modeling, respectively. 

Revival Gold’s approach reflects an understanding that Mercur’s location offers significant advantages for development. The project sits on private land near existing infrastructure, which paves the way for a relatively swift permitting timeline compared to projects on federal land. This strategic factor enhances the potential for quicker access to production, targeted for early 2028 following an estimated two-year permitting process. The proximity to a town of 40,000 people eliminates the need for additional worker accommodations or fly-in fly-out logistics, removing some of the logistical roadblocks often associated with mining projects. 

The economics of Mercur are compelling as outlined in the company’s Preliminary Economic Assessment (PEA) dated May 2025. The PEA indicates a robust case with a 10-year mine life, producing an average of 95,600 ounces of gold annually with an after-tax net present value (NPV) of $294 million at a base gold price of $2,175 per ounce. This value escalates dramatically to $752 million NPV at a $3,000 gold price, alongside attractive internal rates of return (IRRs) of 27% and 57%, respectively. The strong PEA underscores the project’s potential as a low-risk, cost-effective heap leach operation, leveraging existing site infrastructure and favorable mineral tenure. 

CEO Hugh Agro emphasizes the forward momentum, noting that two rigs are currently active with a third expected to join soon, reflecting the company’s commitment to a vigorous 2025 field season. The company also aims to deliver ongoing assay results later in the year, which will be pivotal for confirming resource estimates and supporting the PFS. Revival Gold’s methodical progression is underpinned by a clear plan to finalize permitting and initiate formal development, supported by a solid team under the leadership of Vice President, Engineering and Development John Meyer. 

With a combined resource base of approximately six million ounces between Mercur and its Beartrack-Arnett project in Idaho, Revival Gold is establishing itself as a serious player in the U.S. gold mining sector. The Mercur project, with its history of artisanal mining and favorable geologic setting, remains a flagship asset with significant exploration upside. Revival Gold’s strategy to focus on resource conversion, metallurgical refinement, and efficient permitting reflects an intent to bring this project to production with economic discipline and strong technical foundations. 

Revival Gold is making tangible strides in advancing the Mercur Gold Project through a focused drilling agenda and comprehensive development planning. The combination of robust early economic assessments, strategic on-site advantages, and a structured project advancement roadmap puts Mercur on track to become a notable gold producer in the near term, highlighting Revival Gold’s commitment to unlocking the project’s full potential.