RENO, NV / CRWEPRESSRELEASE / September 9, 2015 / Renaissance Gold Inc. (TSX: REN) (“RenGold”) is pleased to announce the start of the drilling program at its Fourth of July project in the Humboldt Mountains northeast of Lovelock in Pershing County, Nevada. The program is being funded by Summit Mining Exploration II, Inc., (“Summit II”) a US subsidiary of Sumitomo Corporation pursuant to the second year of an earn-in agreement.
The program will include 8 RC holes with a budget for 1340 meters (4,400 feet). This round of drilling will test three target areas within this target- rich project that had multiple mines and was one of the largest silver-gold producers in Nevada prior to 1940.
The project lies in the northern portion of a prolific belt of silver+/-gold deposits in the Humboldt Range in Pershing County that includes the evolving Spring Valley Project 1.3 million troy ounces of gold with a cutoff of 0.66 g/t (Barrick 2014 Annual Report), the Coeur Rochester Mine with over 300 million ounces in silver and 1 million ounces of gold endowment, and the growing Relief Canyon gold project under development by Pershing Gold.
The historic mines within this project area created one of the largest silver producing areas in Nevada between 1860 and 1880. Past mining of precious metals focused on high-grade flat reefs in Triassic-age Prida Limestone. Drilling by RenGold will test structural targets within more competent volcanic and intrusive units that host most of the large scale mineralization at other mines within the Humboldt Range. The following three targets will be tested on the Fourth of July Project:
The Black Warrior area near the range front was an historical antimony producer. Surface sampling in rock chips and soils indicates a strong gold association and the broadest zone of gold and antimony dissemination on the property. Surface samples by RenGold vary from below detection up to 0.48 ppm gold and 259 ppm Ag as a representative vein rock chip. Much higher select sulfide rich samples have been taken but are not representative of the vein.
The Jackson Vein area located midway up the mountain is hosted in a competent rhyolite porphyry and contains open slot pits and adits as historical workings. Surface samples vary from below detection up to 6.9 ppm Au and 574 ppm Ag in quartz vein.
The Inskip-East Graben target area is a complex structural intersection that sits higher up on the range between the Arizona and Wheeler Mines. This area has been under-explored due to a number of recessive features which are difficult to evaluate with surface sampling and includes multiple collapsed adits. Surface samples from around the recessive areas vary from below detection up to 1.1 ppm Au and 1450 ppm Ag from quartz vein boulders within a working. Again higher grade select sulfide rich dump samples have been obtained but are not representative.
High grade samples were all obtained from veins whether they are discrete veins, stockworks, or shear zones. Drill targets were chosen from the location and geometry of high grade veins and broad areas of anomalous precious metal and associated trace elements in soils.
Richard Bedell, President and CEO of RenGold, comments: “We are pleased to start this drilling at the Fourth of July Project funded by our partners at Summit II. This is a complex area and has the potential to host large bodies of mineralization. The evolving resources within the Humboldt’s are a testament to the potential here. In addition to silver and gold the project area was a past producer of tungsten and antimony which broadens the potential for economic mineralization.”
All technical data, as disclosed in this press release, has been verified by the Company’s qualified persons Richard L. Bedell, M.Sc. and Certified Professional Geologist and Eric M. Struhsacker, M.Sc. and Certified Professional Geologist.
About Renaissance Gold Inc.
Renaissance Gold Inc. is a gold/silver exploration company that has a large portfolio of exploration projects, now focused mainly in Nevada and Utah. RenGold’s objective is to place the projects 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
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SOURCE: Renaissance Gold Inc.