Carlin-Type Gold Mineralization Intersected at Renaissance Gold's Reef Project, White Pine County, Nevada
14 January 2011 - 12:00AM
Marketwired
Renaissance Gold Inc. ("RenGold" or the "Company") (TSX VENTURE:
REN) is pleased to report that reverse circulation drilling has
intersected Carlin-type gold mineralization on the Company's Reef
gold exploration property located in the Pancake Range, White Pine
County, Nevada. Golden Dory Resources Corp. designed and funded the
drilling program as part of an exploration earn-in agreement with
RenGold, which provided on-site supervision and logistical support.
The sixth of six reverse circulation drill holes in a 4723 foot
(1440 meter) program intersected anomalous gold mineralization
ranging from 47 to 155 ppb at 540 to 570 feet of depth in variably
silicified and brecciated limestone of the Devonian Devils Gate
Formation. Broad intervals of strong bleaching, silicification, and
iron oxides in the other five holes provide evidence of an
extensive hydrothermal system. The anomalous interval with
associated alteration, comprised of six samples five feet (1.52
meters) in length, suggests the presence of a blind zone of
Carlin-type gold mineralization located near the top of the Devils
Gate.
The drill program tested two target objectives: Carlin-type
mineralization at the contact of the Mississippian-Devonian Pilot
Shale and the Devonian Devils Gate and polymetallic
lead-zinc-silver-gold mineralization along the east-west striking
Black Horse fault zone. Shallow angle drill holes across the Black
Horse fault failed to intersect extensions to depth of robust
mineralization obtained in surface sampling of silicified
Mississippian Joanna Limestone. However, ample room remains on the
property to conduct follow-up drilling for Carlin-type
mineralization. The drill holes completed to-date test a part of
the western limb of an anticline that plunges southward from the
adjoining Pan property where Midway Gold Corp. is delineating and
developing the Pan gold deposit hosted by Devils Gate Formation.
Fractures in the axial zone and eastern limb of the anticline are
prospective areas for drilling at Reef as is the remainder of the
west limb.
Under the terms of the August 12, 2010 earn-in agreement, Golden
Dory is required to expend a minimum of US$2,850,000 within a 7
year period and complete a bankable feasibility study to earn an
undivided 70% interest in the Reef property. If Golden Dory elects
to terminate its interest without vesting, but has expended
US$5,000,000, it shall be entitled to a 3% NSR capped at twice its
expenditure. Golden Dory is the operator but RenGold will conduct
the bulk of the work under a work agreement funded by Golden
Dory.
ALS Chemex of Reno, Nevada performed gold analyses by fire assay
and ICP analysis for 51 additional elements. All drill samples were
collected following standard industry practice and assayed by ALS
Chemex of Reno, Nevada. Gold results were determined using standard
fire assay techniques on a 30 gram sample with an atomic absorption
finish. QA/QC included the insertion of numerous standards and
blanks into the sample stream.
All data disclosed in this press release, including sampling,
analytical and test data, have been reviewed by the Company's
qualified person Mr. Eric M. Struhsacker, M.Sc., and Certified
Professional Geologist as recognized by the American Institute of
Professional Geologists.
About Renaissance Gold Inc.
Renaissance Gold is a gold/silver exploration company that has a
large portfolio of exploration projects in Nevada, Utah, Argentina
and Spain. The majority of the projects are in exploration earn-in
agreements with industry partners who provide exploration funding.
Renaissance Gold applies the extensive exploration experience and
high-end technical skills of its founders to search for and acquire
new precious metal exploration projects that are then offered for
joint venture.
Renaissance Gold Inc.
Ronald L. Parratt, President and CEO
This news release contains certain statements that may be deemed
"forward-looking" statements. Forward looking statements are
statements that are not historical facts and are generally, but not
always, identified by the words "expects", "plans", "anticipates",
"believes", "intends", "estimates", "projects", "potential" and
similar expressions, or that events or conditions "will", "would",
"may", "could" or "should" occur. Although Renaissance Gold
believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results may differ
materially from those in forward looking statements. Forward
looking statements are based on the beliefs, estimates and opinions
of Renaissance Gold's management on the date the statements are
made. Except as required by law, Renaissance Gold undertakes no
obligation to update these forward-looking statements in the event
that management's beliefs, estimates or opinions, or other factors,
should change.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Contacts: Renaissance Gold Inc. Ronald L. Parratt 775-337-1545
rparratt@rengold.com Renaissance Gold Inc. Richard L. Bedell
775-337-1545 rbedell@rengold.com
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