Renaissance Gold Exploration And Drilling Update

 

WHITE ROCK, BC - Renaissance Gold Inc. reported that planning is underway for drilling at the South Roberts and Ecru projects, once accessible in the Spring. The Pluto Project, Lander County Nevada, subject to an earn-in agreement and operated by Nevada Star Resources LLC, a wholly owned subsidiary of S2 Resources Ltd.. The Pluto project is the first of three RenGold properties in earn-in agreements with S2 to be drill tested.   

The Pluto Project lies within the “Rabbit Trend” of gold deposits and is targeting gold mineralization in the favorable Antler Sequence stratigraphy beneath the Golconda Thrust.  Outcropping Havallah Sequence Rocks in the upper plate of the Golconda Thrust contain gold in rock-chips up to 13.1 g Au/t with anomalous Carlin-suite geochemistry.  Modeling of detailed gravity data collected over the project suggest an uplifted block which was interpreted to be carbonate-bearing stratigraphy of the Antler Sequence.  Drilling was conducted by our partner, S2 Resources Ltd. and consisted of 4 reverse circulation holes, totaling 4600 feet.

At the Jupiter Project in Nye County, Nevada, Ramelius completed a Phase 1, seven-hole reverse circulation drilling program in December, representing a preliminary test of two target areas.  Samples were submitted to the lab in late December and results will be released when available. The project is subject to an earn-in agreement with Ramelius Resources Ltd. 

Robert Felder, President and CEO said, “The past year was a very productive one for the Company, and marked a significant increase in our activity levels over the past several years.  During 2017 the Company completed the acquisition of Kinetic Gold Corp., which marked a significant evolution of the project portfolio, management, and technical team. We also completed ten important deals for the Company, including eight exploration earn-in agreements, one generative alliance and one option agreement. Through these and other existing deals, six projects were drill tested during the year and this level of activity is hoped to continue through 2018.

The Pluto project contained an exciting target concept with strong support from gold assays on the surface, however the drilling and downhole gold assays did not substantiate the geologic and target model as we had hoped.  Our partners at S2 Resources did an excellent job testing this target and we are quite pleased with the quality of their work and their systematic and diligent approach to exploration. We very much look forward to continuing to work with them as we go forward into 2018. 

Our outlook for the coming year is very optimistic.  We have ramped up our joint venture business activities significantly and now have eleven of our projects in deals with partners.  This is precisely what we need to be doing as a prospect generator to create as much exposure to success through discovery as is possible.  We continue our project generation work and are always marketing to bring in new partners to fund exploration on our properties. Based on current deals in place, the Company expects to see at least six projects drilled by partners again this year.”