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| Mercur gold project |
Revival Gold Secures Full Ownership of Mercur Gold Project
Revival Gold exercised its option to acquire 100% of Barrick Mining’s Mercur gold project stake. This consolidation enables potential gold production restart in Utah.
The transaction covers 996 hectares, expanding the Mercur project area to approximately 7,200ha. Meanwhile, Revival Gold completed a preliminary economic assessment (PEA) in mid-2025. The PEA forecasts annual production of 95,600 ounces over ten years.
Economic Outlook and Strategic Implications
The PEA estimates an after-tax net present value of $294 million using a 5% discount rate and $2,175/oz gold price. Consequently, Revival Gold plans a 13,000-metre drill campaign to support the 2026 pre-feasibility study.
Utah’s jurisdiction offers favorable permitting conditions. Revival Gold expects regulatory approvals within about two years. Additionally, Barrick’s infrastructure, including paved roads and powerlines, facilitates expedited project development.
Furthermore, compensation includes $5 million at closing and $5 million on each of the first three anniversaries of commercial production. Payments may be made in cash or Revival Gold common shares, at Barrick’s discretion.
Revival Gold will also grant Barrick a 2% net smelter return (NSR) royalty on covered mineral interests and 1% NSR within one kilometre of adjacent claims. As a result, Mercur’s consolidation represents a rare large-scale Carlin-style gold system outside Nevada.
ScrapInsight Commentary
The Mercur acquisition positions Revival Gold for significant production growth. Regulatory clarity and existing infrastructure may accelerate project development. Investors should monitor gold price trends, as these will heavily influence the project’s NPV and future profitability.
