Renaissance Gold Inc. (TSX.V:REN / OTCQB:RNSGF) (“RenGold” or the “Company”) is pleased to provide the following update from earn-in partner S2 Resources Ltd. (“S2”) regarding the results from the initial stratigraphic drilling program at its Ecru Project, Lander County, Nevada.
Robert Felder, President and CEO states “We are pleased to have encountered meaningful gold grades in our first drill hole on this project. The presence of gold plus anomalous pathfinder elements in the shallower parts of a Carlin system can be a very positive indicator of a more robust system at depth. We look forward to taking the next steps in exploring this exciting target, located in the very well endowed Cortez district.”
Two holes, totaling 4,105 feet were drilled with the following combined objectives: determining the thickness of the upper plate stratigraphy; determining the depth to the more prospective lower plate carbonate stratigraphy; collecting preliminary data on the subsurface geochemistry and alteration within the project area; and testing two geophysical anomaly scenarios, namely an audiomagnetotelluric (AMT) conductivity high coincident with a gravity high, and an AMT low coincident with a gravity low adjacent to interpreted intersecting structures which may have acted as conduits for mineralizing fluids (see S2 December Quarterly Report, dated 29 January 2019).
Hole NECD001 intersected a number of narrow low grade gold-silver intervals, with a best result of 3.66 metres @ 1.65 g/t gold and 9.7 g/t silver from 99.06 metres, including 1.22 metres @ 3.4 g/t gold and 3.6 g/t silver. There were no significant intercepts in hole NECD002 (see Table 1 for full summary of drill results, and Figures 1 and 2).
Table 1: Tabulation of drill intercepts
Figure 1: Plan showing location of the recent drilling relative to the 3 ohm AMT isosurface and gravity. Drill results reported above (VIT and HT holes) were provided to RenGold by the sublessor, are historic in nature, and have not been verified by RenGold’s qualified person.
The intervals of elevated gold and silver occur in zones of brecciation, silicification and overprinting argillic alteration, within broader haloes of antimony, arsenic, mercury, copper, zinc, molybdenum and tellurium anomalism. This multi-element association is similar to that at Barrick’s 2.7 million ounce Robertson gold deposit, located immediately south of the Ecru project, which is reported to be an intrusion related gold silver skarn deposit (refer to Coral Gold’s NI43-101 report of January 2012) (Figure 3).
Figure 2: Close-up Isometric view (looking WSW) showing the recent drilling relative to historical drill results and the 3 ohm AMT isosurface. Drill results reported above (VIT and HT holes) were provided to RenGold by the sublessor, are historic in nature, and have not been verified by RenGold’s qualified person.
Neither hole successfully penetrated into the more prospective lower plate carbonate sequence beneath the upper plate siliciclastic sequence, but hole NECD0001 intersected a 229 foot (83 metre) thick section of limestone and calcareous mudstones within the siliciclastic sediments. It is not yet known if this represents part of the upper plate siliciclastic sequence, or a thrusted wedge of prospective lower plate carbonates structurally interleaved into the upper plate sequence.
The main part of the AMT anomaly, which appears to be open along the project’s southern and western boundaries adjacent to Barrick’s property, is as yet untested.
Samples will be submitted for biostratigraphic age dating using microfossils in order to clarify the stratigraphy and the potential for such structural repetition and interleaving of upper and lower plate rocks. Following the completion of the biostratigraphic dating and a comprehensive evaluation of the Phase 1 results, the next steps for further exploration on the project will be decided.
The Ecru project is located to the north of Barrick’s giant Cortez gold mining complex, which comprises a number of individually significant gold deposits. These include Pipeline (~20Moz), Cortez Hills (~15Moz), Goldrush (~12Moz) and also the Robertson deposit located on ground immediately to the south of the Ecru project, which comprises a resource of 2.74Moz (refer to Coral Gold’s NI43-101 report of January 2012) (see Figure 3).
Figure 3: Plan showing the location of the recent drilling at the Ecru project area relative to the location of Barrick’s nearby mines and resources.
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 70 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.
All technical data in this press release has been reported to RenGold by S2, and Robert Felder, M.Sc., RenGold’s Qualified Person and Certified Professional Geologist as recognized by the American Institute of Professional Geologists (AIPG), has verified it has been reported accurately in this press release.
By: Robert Felder, President & CEO
For further information, contact:
Robert Felder 775-337-1545 or firstname.lastname@example.org
Ronald Parratt 775-337-1545 or email@example.com
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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.