Renaissance Gold Receives US$200,000 Payment from AngloGold Ashanti to Maintain Option for 100% Earn-In on Silicon Project
White Rock, British Columbia (FSCwire) - Renaissance Gold Inc. TSX.V:REN (“RenGold” or the “Company”) is pleased to announce that AngloGold Ashanti NA (“Anglo”) has elected to maintain the 100% earn-in option on the Silicon project for the second year and has made the first anniversary payment of US$200,000 to the Company (see NRs dated June 30, 2017 and May 1, 2018). In its first year of exploration, Anglo completed detailed geologic mapping, a gridded soil geochemistry program and a six hole core drilling program on the project. A follow-up drilling program is anticipated later in 2018.
Robert Felder, President and CEO states, “We are quite pleased that Anglo’s work has generated enough encouragement for them to maintain the option for another year and that they plan further work. We look forward to additional drilling during continuing exploration on the property.”
Silicon is located in the Bare Mountains mining district, Nye County, Nevada. The Silicon property is comprised of 277 unpatented mining claims owned by the Company totaling approximately 5,702 acres (2,308 hectares) and was identified and acquired through the Company’s ongoing generative exploration program.
The property contains extensive exposures characteristic of the upper portion of a low-sulfidation, epithermal gold system. Intense acid leaching has created localized areas of high purity silica, which have been mined in the past. In addition, the property contains numerous historic mercury prospects. Limited historic drilling has taken place on the property and the majority of the property remains untested. The Silicon project is near Corvus Gold Inc.’s (TSX.V:KOR) North Bullfrog and Mother Lode projects, and Northern Empire Resources’ (TSX.V:NM) Sterling mine, where both companies are active and reporting good drill results.
About Renaissance Gold Inc.
Renaissance Gold Inc. is a western US focused prospect generator utilizing a joint venture business model. RenGold applies the extensive exploration experience and high-end technical skills of its founders and team members to search for and acquire high quality precious metal exploration projects that are then offered for joint venture to industry partners who provide exploration funding. RenGold maintains a large portfolio of gold and silver exploration properties and has entered into over 60 exploration agreements including those as its predecessor, AuEx Ventures Inc. and those from Kinetic Gold. RenGold’s objective is to place its projects into exploration agreements, testing as many drill targets as possible and providing maximum exposure to success through discovery.
By: Robert Felder, President & CEO
For further information, contact:
Robert Felder 775-337-1545 or bfelder@rengold.com
Ronald Parratt 775-337-1545 or rparratt@rengold.com
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 release.
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 Inc. 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 Inc.’s management on the date the statements are made. Except as required by law, Renaissance Gold Inc. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
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Source: Renaissance Gold Inc. (TSX Venture:REN, OTC Bulletin Board:RNSGF, FWB:4RG)
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