|January 29, 2018|
Renaissance Gold Initial Exploration Drilling at Jupiter Project, Nevada Returns 9.1 m @ 1.10 g/t Au
|Renaissance Gold Inc. ("Renaissance") is pleased to report the results of the Phase one drilling program completed by its partner, Ramelius Resources Ltd. ("Ramelius") (ASX:RMS) at the Jupiter Project in Nye County, Nevada. (See NR dated June 21, 2017). Ramelius completed a seven-hole reverse circulation drilling program, totaling 3920 feet (1195 meters) representing a preliminary test of two target areas. Six of the seven holes were drilled in the NE Pediment Gravity Target, and one hole was drilled as a first test of the Eagle Target (Figure 1).
Figure 1: A. Geologic map and cross-section showing location of target areas, B. Vertical derivative of residual gravity, showing location of drill holes and selected elements of the geology and target areas.
Drilling on the NE Pediment Gravity Target was the focus of this first program and was designed to test the Tertiary-Paleozoic unconformity in the vicinity of a prominent NE structural trend interpreted from the gravity data. A northwest fence of six holes was completed on this target. Significant argillic alteration with up to 10% pyrite was observed in the Tertiary volcanic and volcaniclastic section in the the top portion of these holes and jasperoidal silicification was consistently encountered at the Tertiary-Paleozoic unconformity (Figure 2).
Figure 2: Cross-Section through the interpreted graben structure on the NE Pediment target,
Anomalous gold mineralization was encountered in four of the six holes, hosted in high-angle structure and along the Tertiary-Paleozoic unconformity, with the best intercept of 9.14 meters grading 1.10 g Au/t in hole JURC001 (Figure 2). One hole was drilled as a first pass test of the Eagle Target and did not encounter reportable gold mineralization. A tabulation of the assay results is shown in Table 1.
Table 1: Tabulation of drilled gold intercepts, using a 0.1 g/t Au cutoff, and allowing 1.5m internal dilution
Robert Felder, President and CEO states, "We are quite pleased to encounter meaningful gold intercepts in our first drill program at Jupiter, and very much look forward to further drilling to test these and other target areas. Our 2017 drilling programs on six, partner funded projects has been successful in identifying two Carlin-type systems under cover at Jupiter and Spruce East that have encountered significant anomalous to gram plus mineralization warranting follow up."
Quality Assurance and Quality Control
All samples were analyzed for gold at ALS Geochemistry in Reno Nevada, an ISO 17025 Accredited lab. Gold was analyzed by 30g fire assays on 5 foot (1.52 m) samples. Blind standards, blanks, and duplicates were inserted into the sample chain to account for 6% of samples. Intercepts were calculated using a 0.10 g Au/t cutoff allowing up to 1.5 meters of internal dilution. Drilling is insufficient to define a true thickness of mineralized intervals.
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, Robert Felder, M.Sc. and Certified Professional Geologist as recognized by the American Institute of Professional Geologists (AIPG).
By: Robert Felder, President & CEO
For further information, contact:
Robert Felder 775-337-1545 or
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.
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