Renaissance Gold Reports Exploration Progress

WHITE ROCK, BC -  Renaissance Gold Inc. reported exploration progress on several fronts including reverse circulation (“RC”) drilling on the Diamond Point, Spruce East and Buffalo Canyon projects in Nevada, all funded by and subject to earn-in agreements with Kinross Gold U.S.A., Inc. 

Drilling on the Diamond Point project is complete and was designed to target Carlin-style mineralization under shallow cover.  Widely spaced holes were drilled targeting blind mineralization projected beneath pediment from the north striking West fault zone which has a 1.6 km coincident Au and As in soils surface expression.  The program consisted of 6 RC holes, totaling 1,200 meters (3,940 feet).  Assay results are pending.

RC drilling at Spruce East is now underway, targeting Carlin-type gold mineralization approximately 30 miles southwest of Newmont’s recently opened Long Canyon gold mine.  Gold mineralization at Spruce East is associated with north and northeast trending fault zones cutting the east limb of an antiform.  This drill program is targeting extensions of the north trending Cicada fault zone where 6 rock chips of decalcified and locally silicified limestones range from 0.16 to 1.3 ppm Au and are associated with Carlin-type geochemistry.

RC drilling at Buffalo Canyon will test for intrusion-related mineralization laterally and below historic drilling which intercepted long runs of low-grade gold mineralization.  Many historic holes bottomed in anomalous gold.  3-D modeling has been used in conjunction with a magnetic inversion to target feeder structures which may be associated with an underlying intrusive body where higher grades are targeted.

200m x 400m gravity survey was recently completed at the Company’s wholly owned Wood Hills South project.  The gravity data maps a distinct, northeast-trending horst block interpreted to be an upthrown block of carbonate rocks coincident with a magnetic low.  These features occur on a regional NE magnetic trend believed to be associated with intrusive rocks at the nearby West Pequop and Long Canyon gold deposits.

The Company is currently conducting additional gravity and magnetic surveys on other early-stage exploration targets as part of its ongoing target generation efforts.

Robert Felder, President states “We are pleased to see the start of drilling on our projects and look forward to getting a number of targets drilled during the remainder of 2017 and more in 2018.  We are also making good progress on our generative exploration program with the aim to continue generating new high-quality projects while a good portion of our existing portfolio is getting drill tested.”

Ronald Parratt, CEO and Executive Chairman states, “Our integration with Kinetic Gold has progressed seamlessly in terms of people and projects and has accelerated our joint venture business model with several new agreements, active project work, and importantly, new project generation. We are looking forward to a highly productive next 12 months and have activities underway to keep up the momentum well into 2018.”