Press release from Business Wire
Renaissance Gold Advances Sinter Epithermal Gold-Silver Project with Trench Sampling and Drilling
Wednesday, August 14, 2013
Renaissance Gold Advances Sinter Epithermal Gold-Silver Project with Trench Sampling and Drilling07:00 EDT Wednesday, August 14, 2013
WHITE ROCK, British Columbia (Business Wire) -- Renaissance Gold Inc. (TSX:REN) (“RenGold”) is pleased to announce trench sampling and drilling results that confirm the presence of a shallow zone of gold-silver mineralization at the Sinter Project, Pershing County, Nevada. The Sinter property lies in the northern part of the Velvet District near other shallow epithermal gold prospects at RenGold's Bunce property and at the historic Velvet Mine, a gold-silver producer in the early 1900's. RenGold consolidated the Sinter property by leasing a mile-square private section from Newmont USA Limited, a wholly owned subsidiary of Newmont Mining Corporation in 2010. This section adjoins 33 claims controlled by lease and staking, all of which combined comprise a total area of approximately 1190 acres (480 hectares).
Initial rock chip grab samples of two old dozer cuts yielded several analyses exceeding 3 grams/tonne gold from a zone of chalcedony and quartz-adularia stockworks and narrow veins that cut a bimodal sequence of Miocene volcanic flows, tuffs, volcaniclastic sediments, and debris flows. Fresh exposures created by the construction of two trenches, an access road, and two drill pads in and near the old dozer cuts reveal the steeply-dipping zone intermittently over a strike-length of 100 meters on a north-northeast bearing. Table 1 summarizes the trench sample results.
Trench #1 produced two contiguous samples spanning the zone that averaged 5.92 grams per tonne gold and 23.19 grams per tonne silver over 3.7 meters (12 feet). Trench #2, located 100 meters (320 feet) northward, exposed the zone in its north and south walls and, intermittently, over a 7 meter (24 foot) length in the floor. The zone narrows northward from 6 meters (20 feet) as sampled on the south wall to 3.4 meters (11 feet) on the north wall. Samples from the zone in Trench #2 consistently reported gold grades of about 0.5 grams per tonne and silver grades of about 3.9 grams per tonne. Geologic mapping and sampling indicate that the mineralized zone could extend north-northeastward as much as 1200 meters (4000 feet). A prospective area of similar extent lies south-southwest of the trenches.
RenGold recently completed 10 reverse circulation drill holes within and near the Trenches #1 and #2. The holes tested the orientation and continuity at shallow depths of the mineralized zone exposed in the trenches. Results from the drilling are reported in Table 2, below. Cut offs for individual 5 foot samples are as follows: Au 0.10 g/t and Ag 1 g/t.
- Drill data density is insufficient to estimate true thickness of the mineralized intervals listed above.
Each of the 10 drill holes intersected mineralization approximately on the down-dip projection of the zone mapped at the surface. Most of the holes were drilled northwestward to westward across the strike of the zone. However, SINT-6 and SINT-7 were drilled southeastward across the zone. Five of the holes yielded assays ranging from 1 to 3.7 grams. Holes SINT-1 and SINT-2 tested the down-dip extension of the >5 gram gold zone sampled in Trench #1, but produced values in the 0.1 to 0.2 gram range.
This new data is comparable with drill results obtained in two previous drill programs that tested a mineralized zone on a different part of the property. Further study is needed to determine any relationship between the two mineralized zones.
Richard Bedell, President & CEO, comments: “The new drill holes confirm the presence of significant gold-bearing shallow epithermal vein system at Sinter. This vein is adjacent to a subparallel recessive valley and surface float of epithermal mineralization has been found, thus expanding the target considerably. Further trenching and drilling will test the potential of this lengthy prospective structural corridor. Sinter lies within a very prospective Miocene volcanic rift that remains active to this day and hosts the famous Sleeper Deposit and the evolving Hycroft mine. Past production along the same rift and near to Sinter includes Velvet, Rosebud and Seven Troughs."
All technical 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.
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
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