Press release from Business Wire
Renaissance Gold Drilling Results – Spruce Mountain Base Metal-Gold Project, Elko County, Nevada
Monday, April 08, 2013
Renaissance Gold Drilling Results – Spruce Mountain Base Metal-Gold Project, Elko County, Nevada07:00 EDT Monday, April 08, 2013
WHITE ROCK, British Columbia (Business Wire) -- Renaissance Gold Inc. (TSX: REN) (“RenGold”) is pleased to announce drill results from its 2012 drill program at the Spruce Mountain exploration project, eastern Elko County, Nevada. The drilling program at Spruce Mountain was funded by Summit Mining Exploration, Inc., (“Summit”) a US subsidiary of Sumitomo Corporation in the second year of an earn-in agreement.
A robust intercept in RSM-22 of 189.5 feet of 0.06% Mo offsets and validates historical drill results in the Sprucemont area and presents several possibilities for additional drill targets. In addition, the 2012 drilling intersected intervals of Carlin-style alteration and chemistry in carbonate host rocks located northwest of Sprucemont. Several targets remain for further consideration and work is in progress to assess the merits of the recognized targets and to develop a drilling program for 2013.
Spruce Mountain Drilling Results
RenGold completed thirteen drill holes totaling 15,057 feet (4,589 meters) of drilling at Spruce Mountain in late 2012. The drilling program included 3,105 feet (946 meters) of mud rotary, 5,087 feet (1,551 meters) of core, and 6,865 feet (2,092 meters) of reverse circulation drilling. Drilling tested multiple targets including 8 holes in 3 zones along a 4.5 mile fault-controlled intrusive corridor striking northeastward from the town site of Sprucemont at the range front. An additional 5 holes were drilled in an area of peripheral Ag-Pb-Zn and Carlin-style Au mineralization northwest of the intrusive corridor. These holes tested extensions of targets detected with an 11 hole reverse circulation drilling program in 2011. The drilling intercepted multiple intrusions associated with base and precious metal mineralization under alluvial cover expanding the known extent of the intrusive systems along the range front. Core hole RSM-22, collared northeast of Sprucemont, intersected porphyry-style molybdenum mineralization including 189.5 feet (57.8 meters) of 0.06% Mo from 329.5-519 feet (100.4 – 158.2 meters). Other holes drilled northwest of the porphyry intercepted multiple intervals of highly anomalous polymetallic mineralization including, in RSM-15, 25 feet (7.6 meters) of 20 g/t Ag and 0.23% Cu from 1050 to 1075 feet (320 -327.7 meters) within a 195 foot (59.4 meter) interval of 0.28% Zn. RSM-24 intersected an outlying part of the Mo system shallow in the hole and, at greater depth, a part of the gold system, seen nearby in 2011 drilling by RenGold and in historic drilling.
Table 1 below lists intercepts obtained in the 2012 drill program.
|Hole||From||To||Thickness||Au g/t||Ag g/t||Cu %||Pb %||Zn %||Mo %|
Table 1. Table of significant intercepts from 2012 drilling. Cutoff values listed in top row. Intervals may contain internal dilution. Drill data density is insufficient to estimate true thickness of the mineralized intervals listed above.
Richard Bedell President and CEO of RenGold comments: “The Spruce Mountain Project is a complex multi-phase system with different ages and the drill results are encouraging, particularly RSM-22 with 189.5 feet of 0.06 Mo%. The nearby Mount Hope porphyry molybdenum deposit has similar grades and this hole would certainly fall into an open pit at Mount Hope. Importantly recent zircon age dates define this porphyry as Eocene in age, the same as Mount Hope. We are looking forward to another season of drilling to advance this property.”
Inspectorate America Corporation in Sparks, Nevada performed gold analyses by fire assay and ICP analysis for 50 additional elements utilizing a 4 acid digestion. All drill samples were collected following standard industry practice. Molybdenum intercepts were rerun and verified by ALS Minerals in Vancouver. QA/QC included the insertion of numerous standards and blanks into the sample stream.
All data disclosed in this press release, including sampling, analytical and test data, have been reviewed by the Company's qualified person Mr. Eric M. Struhsacker, M.Sc., and Certified Professional Geologist as recognized by the American Institute of Professional Geologists.
About Renaissance Gold Inc.
Renaissance Gold Inc. is a gold/silver exploration company that has a large portfolio of exploration projects in Nevada, Utah, Argentina and Spain. Many of the projects are in exploration earn-in agreements with industry partners who provide exploration funding. RenGold applies the extensive exploration experience and high-end technical skills of its founders and team members to search for and acquire new precious metal exploration projects that are then offered for joint venture.
Renaissance Gold Inc.
By: Richard L. Bedell, President and CEO
For further information, contact:
Richard L. Bedell, 775-337-1545 or email@example.com or Eric Struhsacker, 775-337-1545 or firstname.lastname@example.org
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.
Renaissance Gold Inc.
Richard L. Bedell, 775-337-1545
Eric Struhsacker, 775-337-1545