|January 11, 2017|
Renaissance Stakes Newly Generated Projects in Nevada
|Renaissance Gold Inc. (TSX.V: REN) ("RenGold" or the "Company") is pleased to announce that RenGold's generative efforts have resulted in the staking of two new Carlin-style projects in NE Nevada (see below map). |
The Diamond Point project is located in Nevada's prolific Carlin trend south of the Pinion-Railroad district where Gold Standard Ventures is having success and northwest of the Bald Mountain district currently operated by Kinross. The primary stratigraphic hosts for gold mineralization in both the Carlin-Type systems in the Bald Mountain district and the Pinion-Railroad district are the silty carbonates above the Devonian/Mississippian unconformity. In all three, gold mineralization occurs along north striking normal faults intruded by Eocene intrusions. This stratigraphy is preserved at reasonable depths under the Diamond Point project and has never been drill tested. The Diamond Point mineral claims are located on BLM land and cover a 4,000-meter strike length of the gold mineralized West Fault projected under shallow alluvial cover. Outcropping gold mineralization along the West Fault occurs in jasperoids with 16 rock chip samples taken by RenGold ranged from 6.7 g/t gold to below detection limit and Carlin-style pathfinder elements including arsenic from 6-1620 ppm and antimony from 4-787 ppm above the favorable host rocks. Along strike to the north, a historic CSAMT survey and 3 broadly spaced historic reverse circulation drill holes define an anticline through the projected target area. In summary, this untested target has gold along strike, structure, and stratigraphy within the prolific Carlin -- Bald Mountain trend. The project is available for joint venture.
The Spruce East project is at the south end of the evolving Pequop Gold District where the predecessor company to RenGold (AuEx Ventures) had exploration success with Long Canyon, now currently being mined by Newmont. This Carlin-style project is also located on BLM claims. The project was explored by multiple groups in past years but efforts were hampered because of a fragmented land position which is now consolidated, and the poor market for raising funds for exploration. The target is a NE striking antiform dissected by northeast and east-northeast striking normal faults, similar to Long Canyon. The project has seen no exploration drilling since 1990 when Echo Bay defined a > 700-meter strike length of anomalous gold in jasperoid hosted in the Permian Pequop Formation with a shallow drilling program. Rock chips and historic drill holes contain from below detection limit to over 1 g/t gold. Historic drill data has not been verified by a Qualified Person. Historic soils closer to the anticline axis have from below detection limit up to 0.41 g/t gold which have not been drill tested. RenGold has taken 15 verification samples from within the historic grid which range from <0.001 g/t to 0.166 g/t Au. The nearest exposure of the favorable stratigraphy in the west flank of the antiform has up to 3.9 g/t gold in decalcified sandy carbonates dipping into a major mineralized fault. In summary, this project has significant gold values at surface and in drilling and the main structural and stratigraphic zone remains untested. The project is available for joint venture.
Currently RenGold has 21 active confidentiality agreements with companies considering additional earn-in agreements that could lead to a joint venture and discovery.
Commenting on these results, Ronald Parratt, President & CEO states "Generating quality projects on open BLM ground with no underlying obligations creates real value generation. Our team has been leveraging our extensive database, regional knowledge, and strong technical skills to discover targets with significant upside. Targets such as these are attractive to major companies because of their size and quality potential. This is what the team demonstrated at Long Canyon and intends to do it again."
Samples reported in this press release were analyzed by ALS Global of Reno, Nevada and Bureau Veritas of Reno, Nevada. Samples were analyzed by fire assay for gold and 4 acid digestions for multi-element geochemistry.
Dan Pace, MS, is registered member # 4202658 of the Society for Mining, Metallurgy, and Exploration (SME), serves as Exploration Manager for Renaissance Gold, and is the company's Qualified Person as required by NI 43-101 for the data verification and technical information in this press release. All drilling reported in this press release is historic in nature and has not been verified by a qualified person.
About Renaissance Gold Inc.
Renaissance Gold Inc. is a gold/silver exploration company that has a large portfolio of exploration projects 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.
Renaissance Gold Inc.
By: Ronald Parratt, President and CEO
For further information, contact:
Ronald Parratt, 775-337-1545 or firstname.lastname@example.org
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.
You can view the Next News Releases item: Thu Feb 9, 2017, Renaissance Gold Signs Letter of Intent with Coeur Mining, Inc. to Fund Grass Roots Exploration in Nevada
You can view the Previous News Releases item: Mon Nov 28, 2016, Renaissance Gold Reports First Quarter 2017 Results
You can return to the main News Releases page, or press the Back button on your browser.