Renaissance Gold Reports On Exploration Projects

RENO, NV  - Currently RenGold has 14 projects, 6 of which are in agreements for funding.

On December 28, 2015, RenGold staked new claims at the Silicon epithermal gold project NE of Beatty, Nevada and east of the evolving North Bull Frog gold project. Surface work is well advanced and drill permits were received December 7, 2015. This project is available for an earn-in agreement and generative work to date has been funded through an agreement with Callinan Royalties (now Altius Minerals Corporation in exchange for a 1.5% Net Smelter Royalty (NSR) on the project.

On November 18, 2015, RenGold announced results from 2,075 meters (6805 feet) of drilling at the Fourth of July Project located in the Humboldt Range of western Nevada. FOJR-19 intercepted 1.52 meters (5 feet) of 321 g/t Ag and 6.28 g/t Au in a mesothermal quartz vein within a larger intercept of 22.86 meters (75 feet) of 47.6 g/t Ag from 10 to 85 feet (3.05 to 25.91 meters) in depth. Other drill holes also encountered mineralization. The drilling program was funded by Summit Mining Exploration II, Inc., a US subsidiary of Sumitomo Corporation pursuant to the second year of an earn-in agreement. Summit is currently evaluating its options for the third year of the agreement.

The Wildcat Project in Juab County Utah is funded by Troymet Exploration Corp., who reported that they plan to drill this project in 2016, and that a Notice of Intent (NOI) has been submitted to the State of Utah and the BLM. Troymet optioned the Wildcat project in February 2015 and provided funds to quickly advanced it to drill ready status with new exploration and targeting concepts focused on large-target, high-grade gold and silver mineralization in veins, stockworks, breccias and bulk-tonnage deposits. 

On November 10, 2015, RenGold reported progress made at the recently acquired Gilbert South and Maggie Creek projects, which were acquired in exchange for a retained NSR. Since then, RenGold has completed a field campaign at Gilbert South, an epithermal project located in the Monte Cristo Range NW of Tonopah Nevada. Field samples were collected and a ground spectral survey was completed to map alteration. Large areas of mineralized rock that have not been drilled include a central silicified ridge detected using proprietary satellite data. This ridge has yielded channel samples exceeding 4 g/t Au. Since then 68 new surface samples have been collected with only one sample below detection limit to a high of 16.95 g/t Au. Historic drilling by Atlas Mining in the 1980s was focused in the NW corner of the property to test a shallow, open pit target. Other areas with multi-gram gold surface mineralization remain untested and are being developed into drill-ready targets. 

The Maggie Creek property, acquired in August 2015, is located east of Gold Quarry on the Carlin Trend in Eureka County, Nevada. A comprehensive 3D model is being developed that currently includes 241 historic drill holes, with additional data from past operators also being included. Obvious mineralized penetrative structures have not been sufficiently tested and will form the basis of a detailed field campaign in the spring. 

RenGold is advancing permitting for the Everson Deposit on the Buffalo Canyon project in northern Nye County. A second draft of a drill permit has been submitted and it is hoped that the project is drill ready this summer.