Renaissance Gold Inc. TSX.V:REN ("RenGold" or the "Company") reports that assay results have been received from the initial, 3-hole, 1100 meter (3608 feet) reconnaissance diamond drilling program at the Company's South Roberts Project, Eureka County, Nevada. The project is located on the prolific Battle Mountain-Eureka Trend of gold deposits, and is subject to an earn-in agreement with S2 Resources Ltd. (ASX:S2R) (See NR dated July 31, 2017).
Robert Felder, President and CEO states, "We are encouraged by the favorable geologic environment intersected by the drilling and that we continue to see evidence of proximity to a Carlin-type gold system. Drill hole spacing on the target is quite wide and there is a lot of room within the project area to host a significant deposit. We plan to review the existing data in further detail with our partner to come to a decision about further exploration on the project."
The objective of the initial drilling program was to test multiple target horizons associated with specific favorable stratigraphic units and contacts, located in the crest of a concealed anticline, as interpreted from past drilling and strongly supported by new controlled source audiomagnetotellurics (CSAMT) survey lines. Favorable host rocks were intersected in the predicted position and the best assay result was 1.65 meters (5.4 feet) @ 0.17 g/t gold from 491.7 meters (1613 feet) in hole NSRD0001, associated with a zone of strong brecciation and carbonate veining. The primary stratigraphic targets are shown in Figure 1 and described below:
Figure 1: Stratigraphic position of gold deposits in the South Roberts area and elsewhere in Nevada
- The contact between the Mississippian Webb Formation and the Devonian Devils Gate Limestone (host to the Rain and Afgan deposits)
- The upper part of the Devonian Denay Limestone (host to Gold Bar, Gold Canyon and Goldstone deposits)
- Subject to depth, the Devonian McColley Canyon Formation (host to Gold Pick, Gold Ridge and Cabin Creek deposits)
The anticlinal structure was initially interpreted from prior drilling on the property and was strongly supported by the new CSAMT data (Figures 2 and 3). The anticline intersects a favorable Carlin-suite enzyme leach geochemical signature and defines a 2 kilometer (1.25 mile) long northwest trending target (Figure 4).
Figure 2: Anticlinal structure interpreted from drill data, showing position of anticline target and associated enzyme leach geochemical profiles
Figure 3: Location of drill holes on complete Bouguer gravity, showing CSAMT pseudosections and anticline target
Figure 4: Location of target on enzyme leach soil gold and arsenic results
All three holes intersected the Webb-Devils Gate contact confirming the presence of an anticline. Holes NSRD0001 and NSRD0003 both intersected zones of collapse breccia, decalcification and minor silicification, with anomalous arsenic, antimony and mercury (maximum values of 491 ppm, 38 ppm and 2 ppm respectively), and weakly anomalous gold. These results may represent a distal signature of Carlin-style mineralization on this contact away from the drill holes.
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).
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.
By: Robert Felder, President & CEO
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