Encouraging Channel Sample Results At Buffalo Canyon
RENO, NV - Renaissance Gold Inc. reported results from a recent rock chip, channel sampling program completed by company staff at its 100% controlled Buffalo Canyon project in Nye County, Nevada. Highlights of the program include rock chip channel samples of new bedrock exposures that returned values over 139 meters averaging 0.620 g/t Au and an additional bedrock exposure that returned values over 34 meters averaging 1.076 g/t Au. These sampling results, in combination with historic drilling, provide strong support and confidence that the gold mineralization is near continuous both in plan as well as to depth.
Recent heavy rainfall and local flash floods in the project area resulted in scouring of alluvial material from multiple drainages in and around the drill indicated Everson gold mineralization resulting in new, nearly continuous bedrock exposures for sampling. Chip channel samples of the new bedrock exposures in South Everson Canyon include 139 meters of 0.620 g/t Au, 34 meters of 1.076 g/t Au, and 33 meters of 0.586 g/t Au. Select samples of vein material in the bedrock within the drainages ranged from 0.013 to 16.85 g/t Au and identify possible higher grade controls on mineralization. These new assays demonstrate the near continuous and robust nature of the Everson gold mineralization in surface rock exposures.
In addition, chip channel sampling of newly exposed bedrock in Diorite Canyon located to the north and east of the drilled gold mineralization resulted in multiple zones of newly identified gold mineralization including 27 meters of 0.397 g/t Au and 24 meters of 0.451 g/t Au northeast of the area of historic drilling. Also, 10 individual, 3 meter channel samples from this drainage reported assays of greater than 0.5 g/t Au reaching a maximum of 2.81 g/t Au. These results support the potential for expanding the mineralized footprint to the north and east.
Data for the intervals reported resulted from the collection of 232 near continuous, individual chip channel rock samples that varied from 1.55 to 4meters in length. All samples were assayed by ALS Minerals using 30 gram fire assay. Standard cyanide shaker tests were performed on 70 representative pulps from the mineralized intervals to determine preliminary cyanide amenability. These tests recovered an average of 91% of the initial fire assay values. In addition, bottle roll tests were performed on four composite samples using composited coarse rejects from several 10 foot samples. These 4 bottle roll tests returned an average gold recovery of 65% of the calculated head grade of the composites. This initial testwork is encouraging, however again is preliminary in nature.
Commenting on these results, Ronald Parratt, President & CEO states "These long surface assay intervals appear to provide validation and support for the numerous lengthy historic drill intercepts-several of which contained 150+ meters of near continuous gold mineralization. We view these results as very encouraging and will continue and expand our evaluation efforts at Buffalo Canyon".
RenGold is in the process of completing additional bedrock chip channel sampling on two additional drainages that are in close proximity to the drilled Everson mineralization. In addition, Renaissance has recently been advised by the US Forest Service that the new exploration permit to enable drilling in the area of the Everson deposit is expected to be granted in early 2017.