Renaissance Gold Inc. TSX.V:REN (“RenGold” or the “Company”) expects exploration drilling programs on at least seven of its partner funded projects during 2018. Some of that drilling is ongoing and other programs are planned for later in the year. The following is an update on two of these projects already underway.
South Roberts Project
S2 Resources (see NR dated July 31, 2017) has notified the Company of the commencement of core drilling on the South Roberts Project, Eureka County, Nevada. A recently completed CSAMT survey and an infill soil geochemistry program have significantly strengthened the drill targets on the project, located on the prolific Battle Mountain-Eureka Trend of world class gold deposits. Figure 1 shows a geologic cross section constructed from drill hole information, and a new CSAMT pseudosection from the same area. The CSAMT lends strong support to the geologic model, and indicates a resistivity response interpreted to represent an upthrown anticlinal block of favorable lower plate carbonate rocks. The target lies at the crest of the anticline and in a very favorable geochemical setting.
Figure 1: Geologic cross section and CSAMT pseudosection, Line 2
Figure 2 shows the gold and arsenic and results from the recently completed 200m enzyme leach soil geochemistry survey. Detailed in-house interpretation of the soils data indicate robust Carlin-suite responses broadly coincident with the anticline.
Two initial core holes are planned to depths of ~400 meters to test multiple target horizons located in the axial zone of this anticline, as follows:
• The contact between the Mississippian Webb Formation and the Devonian Devils Gate Limestone (host to the Rain and Afgan deposits)
• The upper part of the Devonian Denay Limestone (host to the Gold Bar, Gold Canyon and Goldstone deposits)
• Subject to depth, the Devonian McColley Canyon Formation (host to Gold Pick and Gold Ridge deposits).
Figure 2: Enzyme Leach soil geochemistry plots showing Au and As responses and location of CSAMT lines
AngloGold Ashanti is drilling the Silicon Project and they have reported the completion of three core holes, totaling 1145 meters, of a planned program to complete approximately 3000 meters. Detailed geologic mapping and a gridded soil program is underway over the existing claim block, to identify further drill target opportunities. Silicon is located in the Bare Mountains mining district, Nye County, Nevada and contains extensive exposures characteristic of the upper portions of a low-sulfidation, epithermal gold system. The project is near Corvus Gold Inc’s (TSX.V:KOR) North Bullfrog and Mother Lode Projects, and Northern Empire Resources’ (TSX.V:NM) Sterling Mine, where both companies are active and reporting good drill results.
Robert Felder, President & CEO states, “We are very excited to begin drilling on the South Roberts targets. The recently generated results provide a lot of encouragement on an already very strong target in a very prospective location on a major gold trend in Nevada. We are also very pleased to see the progress being made by AngloGold at Silicon and will report drill results as they become available. This is an exciting year for RenGold, with seven planned drill programs all representing opportunities to produce significant results for shareholders”
About Renaissance Gold Inc.
Renaissance Gold Inc. is a western US focused prospect generator utilizing a joint venture business model. RenGold applies the extensive exploration experience and high-end technical skills of its founders and team members to search for and acquire high quality precious metal exploration projects that are then offered for joint venture to industry partners who provide exploration funding. RenGold maintains a large portfolio of gold and silver exploration properties and has entered into over 60 exploration agreements including those as AuEx. On May 29, 2017, the Company acquired Kinetic Gold Corp. and its subsidiaries which hold various exploration properties located in Nevada. RenGold’s objective is to consistently place its projects into exploration agreements, testing as many drill targets as possible and providing maximum exposure to success through discovery.
By: Robert Felder, President & CEO
For further information, contact:
Robert Felder 775-337-1545 or moc.dlogner@redlefb
Ronald Parratt 775-337-1545 or moc.dlogner@ttarrapr
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Renaissance Gold Inc. believes the expectations expressed in such forward
looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Renaissance Gold Inc’s management on the date the statements are made. Except as required by law, Renaissance Gold Inc. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change