|August 01, 2018|
Follow-up Drilling Commences on Renaissance Gold's Jupiter Project
|Renaissance Gold Inc. TSX.V:REN ("RenGold" or the "Company") is pleased to announce the start of a follow-up drilling program on its Jupiter Project, Nye County, Nevada. The Jupiter Project is subject to an earn-in agreement with Ramelius Resources Limited (ASX:RMS). (see NR dated June 21, 2017).
Robert Felder, President and CEO states, "We are very pleased to have our partner returning for a second round of drilling. The drill results from 2017 identified significant gold mineralization nearly a kilometer away from previously known gold mineralization on the property. This opens up a large, prospective area for discovery on the project and we are very much looking forward to the results of this exciting program"
In 2017, Ramelius completed a seven-hole, reverse circulation ("RC") drilling program, totaling 1195 meters (3920 feet) 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. The NE Pediment target returned four holes with anomalous gold mineralization, with the best intercept of 9.1m @ 1.1 g/t Au (See NR dated January 29, 2018). These four holes were drilled across significant graben-bounding structures interpreted from gravity data and intersected a consistent increase in gold grade to the southeast (See Figure 1).
The current Phase II follow-up program includes plans for 1524m (5000 feet) of RC drilling in 7 holes, offsetting the mineralization encountered in the Phase I program, and also drilling structural targets to explore for potential higher grade feeder structures.
All technical data disclosed in this press release has been verified by RenGold's Qualified Person, Robert Felder, M.Sc. and Certified Professional Geologist (CPG #11012) as recognized by the American Institute of Professional Geologists (AIPG).
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 65 exploration agreements including those as its predecessor, AuEx Ventures Inc. and those from Kinetic Gold. RenGold's objective is to place its projects into exploration agreements, testing as many drill targets as possible and providing maximum exposure to success through discovery.
Figure 1: Map showing the location of 2017 drill holes illustrating the increase in drilled gold grades from northwest to southeast, and the location of permitted follow-up drill sites.
By: Robert Felder, President & CEO
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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