|February 17, 2015|
Renaissance Gold Drill Results Fourth of July Silver-Gold Project, Nevada
|Renaissance Gold Inc. (TSX: REN) ("RenGold") is pleased to announce results from its 2014 drill core program at its Fourth of July project in the Humboldt Mountains of Pershing County, Nevada. The drilling program was funded by Summit Mining Exploration II, Inc., ("Summit II") a US subsidiary of Sumitomo Corporation pursuant to the first year of an earn-in agreement. |
This initial phase of drilling was a small campaign of 3 core holes to determine the architecture of this complex system as a precursor to a substantially larger drill program later in 2015.
Rengold completed 612 meters (2,009 feet) of drilling that tested structural targets in the vicinity of the Arizona Mine, an historic producer of silver, gold, and tungsten. The Arizona Mine exploited a high-grade flat vein, that generally follows bedding in shaley, carbonaceous limestone of the Triassic Prida Formation. The limestone block is preserved in a northerly trending graben that overlies the generally rhyolitic package which is known to be the dominant host rock for mineralization in the District such as the Coeur Rochester Silver Mine and the Spring Valley gold project to the south.
This initial phase of drilling tested the concept that the graben-bounding faults were conduits for the mineralizing fluids that formed the flat veins of the Arizona Mine and several other smaller mines nearby.
Assay results of the drilling identified several anomalous zones of silver and/or gold that will assist in defining drill targets for the next phase of drilling. Drill hole penetrations (1) defined the geometry of the graben-bounding structures, (2) defined the depth and geometry of the unconformity between the overlying limestone and the older rhyolite, (3) identified the presence of multiple generations of mineralization and intrusion and (4) identified the presence of strong alteration and mineralization in the rhyolite units within the Arizona Graben.
FOJDH-01 located on the East Graben margin intersected a fault zone containing 1.5 meters (3 feet) of 13.45 g/t Ag and 0.02 g/t Au at 60.9-61.9 meters (200.0-203.0 feet). The very high Ag/Au ratio is consistent with the quartz-vein reefs at the Arizona Mine. The second zone of anomalism in FOJDH-01 occurs in pyrite-flooded rhyolite breccias between the unconformity and the East Graben fault with anomalous Au from 105.0-132.5 meters (344.5 to 434.8 feet), 27.5 meters (90.3 feet) of 0.086 g/t. The highest Au zone is 2.2 meters (7.3 feet) of 0.265 g/t with 5.27 g/t Ag. This chemistry and alteration is different than the Arizona "bed-vein" mineralization and appears to be older.
FOJDH-02 collared to the west of FOJDH-01 along a fault within the graben intersected a zone of thin sheeted to stockwork quartz veining at the bottom of the hole, associated with pervasive quartz + potassium feldspar flooding and trace disseminated sulfides. This zone contained weakly anomalous Au (0.01 to 0.03 g/t), and anomalous As (up to 573.0 g/t).
FOJDH-03 located north of hole FOJDH-01 targeted the East Graben fault along the north margin of a rhyolite porphyry plug. The hole intersected a 3.5 meter (11.4 foot) -thick zone of silicified carbonates from 87.2 to 90.5 meters (286.0 to 297.4 feet) just above the unconformity. This zone averaged 0.126 g/t Au with low level Au (0.01-0.09 g/t) extending 33.5 meters (110.0 feet) downhole across the unconformity and into the underlying rhyolite. The mineralized interval contains pyrite flooding on structures and weak quartz veining consistent with the high sulfide Au zone in hole FOJDH-01. Additionally, FOJDH-03 intercepted multiple diorite and diorite porphyry dikes along the East Graben fault. These dikes were not mineralized but lie within the same structural zone as the anomalous mineralization. This indicates a long lived structure that may provide potential zones of higher grade mineralization.
Drill data density is insufficient to estimate true thickness of the mineralized intervals reported above.
Regional surface geochemistry indicates a zoned intrusion related system that focuses silver within the Arizona and Wheeler Mines and a peripheral high gold signature to the east and west.
Richard Bedell President and CEO of RenGold comments: "RenGold with strong support from its funding partner, Summit II, has made enormous progress since signing the agreement in March of 2014. The initial drilling showed complex structures and mineralization that would have been difficult to interpret had it been done with RC chips. The follow-up program in 2015 has a number of high priority vectors and will be a much larger program that will likely include both RC and some core".
ALS Minerals in Reno, Nevada performed gold analyses by fire assay and ICP analysis for 50 additional elements utilizing a 4 acid digestion. All drill samples were collected following standard industry practice. QA/QC included the insertion of numerous standards and blanks into the sample stream.
All data disclosed in this press release, including sampling and analytical data, have been reviewed by the Company's qualified person Mr. Eric M. Struhsacker, M.Sc., and Certified Professional Geologist as recognized by the American Institute of Professional Geologists.
About Renaissance Gold Inc.
Renaissance Gold Inc. is a gold/silver exploration company that has a large portfolio of exploration projects, now focused mainly in Nevada and Utah. RenGold's objective is to place the projects in exploration earn-in agreements with industry partners who provide exploration funding. RenGold applies the extensive exploration experience and high-end technical skills of its founders and team members to search for and acquire new precious metal exploration projects that are then offered for joint venture.
About Sumitomo Corporation
Sumitomo Corporation ("SC") is a leading general trading company with 115 locations in 66 countries and 24 locations in Japan. The entire Sumitomo Corporation Group consists of over 850 companies and more than 70,000 personnel. The SC business is continuously expanding into a diverse range of products and services. Its core business units are Metal Products; Transportation & Construction Systems; Environment & Infrastructure; Media, Network, Lifestyle Related Goods & Services; and Mineral Resources, Energy, Chemical & Electronics.
Renaissance Gold Inc.
By: Richard L. Bedell, President and CEO
For further information, contact:
Richard L. Bedell, 775-337-1545 or or Eric Struhsacker, 775-337-1545 or
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.
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