|December 06, 2017|
Renaissance Drilling at Buffalo Canyon Intersects Long Runs of Mineralization (79.2 m @ 0.35 g Au/t) and Encounters Highest Sample Assay to Date of 5.34 g Au/t
|Renaissance Gold Inc. (TSX.V: REN) ("RenGold" or the "Company") is pleased to announce the assay results from the Buffalo Canyon, Nevada project, which is subject to an earn-in agreement with Kinross Gold U.S.A., Inc. (See NR dated May 15, 2017). Five reverse circulation drill holes were completed on the project totaling 5600 feet (1707 m), and were designed to test several targets, both for the lateral and vertical expansion of the mineralization known from prior drilling around the Everson deposit and to explore for higher grade portions of the system. |
Drilling at Buffalo Canyon encountered several significant intercepts of gold mineralization as shown in the table below. Holes BCR17-01 and BCR17-02 identified a new zone of gold mineralization along a northwest trending structure at depth below the previously drilled Everson deposit (see attached map). These are the first drill holes to penetrate this structure and opens up potential for significant expansion of the deposit. Hole BCR17-03 drilled through the core of the mineral system with a strong intercept beginning at surface that is representative of the shallow portion of the Everson deposit (79.2 m of 0.35 g/t Au). Both holes BCR17-01 and BCR17-04 validate the presence of long runs of low grade gold mineralization in the gravels to the west and north of the outcropping deposit. These holes are important because they indicate a portion of the deposit has been eroded off. Hole BCR17-05 intercepted gold mineralization within the intrusive complex north of the known system which increases the mineralized footprint considerably, and contained 1.5 m of 5.34 g Au/t, the highest grade intercept in the Everson deposit to date.
Cyanide soluble AA (atomic absorption) analyses on pulps composited over the mineralized intervals are consistent with results reported on previous chip channel samples, and indicate potential for good gold recoveries with cyanide heap leaching. Additional work will explore for higher-grade zones of mineralization which may be preserved under cover, within, or along the margins of the intrusive complex.
Robert Felder, President and CEO states "We are encouraged by the results of this program, indicating significant expansion potential of the known mineralization as well as encountering higher gold grades within thick intervals of the lower grade mineralization." The potential to expand this deposit under cover and potentially drill into the uneroded part of the intrusive could represent a significant breakthrough for the project."
Intercepts calculated using a cutoff grade of 0.15 g Au/t including up to 3 meters of internal dilution and only reporting intervals averaging 0.2 or greater. AA (CN soluble)/FA ratios were calculated using a volume weighted mean of reported intercepts.
Quality Assurance and Quality Control
All samples were analyzed for gold at American Assay Laboratories in Reno Nevada, an ISO 17025 Accredited lab. Gold was analyzed by 30g fire assays on 5 foot (1.5 m) samples. Mineralized intervals ranging from 5 to 25 foot composites (1.5 to 7.6 meters) were reanalyzed by ALS Geochemistry in Reno, Nevada with a 30g cyanide leach and AAS analyses. Blind standards, blanks, and duplicates were inserted into the sample chain to account for 9 % of samples. Intercepts were calculated using a 0.15 g Au/t cutoff allowing up to 3 meters of internal dilution. Drilling is insufficient to define a true thickness of mineralized intervals. Grade tonnage calculations on historic drilling are historic in nature and cannot be verified at this time.
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.
All technical data disclosed in this press release has been verified by RenGold's Qualified Person, Daniel Pace, M.Sc. who is a Registered Member as defined by the Society of Mining, Metallurgy and Exploration.
By: Robert Felder, President & CEO
For further information, contact:
Robert Felder 775-337-1545 or email@example.com
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.
View News Release in PDF format:
You can view the Next News Releases item: Wed Jan 3, 2018, Renaissance Gold Exploration and Drilling Update
You can view the Previous News Releases item: Mon Dec 4, 2017, Renaissance Gold Completes Earn-In Agreement with Coeur Explorations Inc. on Cine Mountain Project
You can return to the main News Releases page, or press the Back button on your browser.