Renaissance Gold Inc. Announces Drill Results From the Meridiano Gold Project Santa Cruz Province Argentina
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/20/10 -- Composite results from drilling on the Meridiano Project, that was conducted by Renaissance Gold, Inc. (RenGold) (TSX VENTURE: REN), and fully funded by Agnico-Eagle (USA) Limited (a wholly-owned subsidiary of Agnico-Eagle Mines Limited) were completed in late 2010. Drill results include many intercepts of low grade gold mineralization including 39.4 feet of 0.015 opt gold (12 metres of 0.500 g/t gold) and 9.8 feet of 0.040 opt gold (3 metres of 1.376 g/t gold). Ten of the 32 holes drilled have reportable grades (at least ten feet of 0.010 opt).
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Intercept Intercept
From To length Au From To length Au
Hold ID (feet) (Feet) (feet) (oz/t) (metres) (metres) (metres) (g/t)
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DDH10T1 324.8 337.9 13.1 0.012 99.0 103.0 4.0 0.370
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DDH6T 173.9 196.8 22.9 0.012 53.0 60.0 7.0 0.371
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DDH6T 203.4 242.8 39.4 0.016 62.0 74.0 12.0 0.500
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DDH8T 118.1 128.0 9.9 0.021 36.0 39.0 3.0 0.657
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RCM006 173.9 203.4 29.5 0.013 53.0 62.0 9.0 0.395
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RCM006 229.7 239.5 9.8 0.026 70.0 73.0 3.0 0.814
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RCM008 121.4 137.8 16.4 0.031 37.0 42.0 5.0 0.971
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RCM008 180.4 187.0 6.6 0.014 55.0 57.0 2.0 0.423
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RCM010 239.5 262.5 23.0 0.029 73.0 80.0 7.0 0.903
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RCM010 321.5 331.4 9.9 0.024 98.0 101.0 3.0 0.761
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RCM011 13.1 23.0 9.9 0.044 4.0 7.0 3.0 1.376
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RCM011 85.3 98.4 13.1 0.016 26.0 30.0 4.0 0.496
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RCM013 82.0 91.9 9.9 0.013 25.0 28.0 3.0 0.400
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RCM013 114.8 134.5 19.7 0.013 35.0 41.0 6.0 0.419
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RCM013 147.6 157.5 9.9 0.017 45.0 48.0 3.0 0.540
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RCM022 239.5 255.9 16.4 0.027 73.0 78.0 5.0 0.837
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RCM025 331.4 341.2 9.8 0.011 101.0 104.0 3.0 0.337
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These intercepts are believed to be at an angle to the steeply dipping structural zones. Most drill holes were at 60 degrees inclination and an estimate of true thickness would be roughly half than the reported intercept thickness. The zones are not entirely planar however and dips do vary, so until 3D modeling is complete the true thicknesses are unknown.
Drilling was primarily focused on recessive, low sulfidation, epithermal structural zones defined by sulfidic breccias in Jurassic age felsic volcanics. This area was discovered using proprietary TM imagery that highlighted a 200m long argillic alteration zone with breccias. Initial rock chip sampling, in this recessive zone, yielded consistent anomalous gold values. Detailed mapping exposed several kilometers strike length of crossing- cutting structural zones and follow-up surface samples of over 8 g/t Au were obtained. Prior work on the property consisted of sampling on siliceous rocks with positive relief and no previous drilling had been done.
These data show that gold mineralization has good horizontal continuity within the structural corridors. Drilling to date has only been shallow however, with the deepest penetration to 453 feet (138 metres) due to the inclination of the drill holes. Most drill holes are much less than 300' (92 metres). Results are being evaluated to consider further exploration. Drill samples were collected following standard industry practice and assayed by Alex Stewart Laboratories of Mendoza, Argentina. Gold results were determined using standard fire assay techniques on a 50 gram sample. QA/QC included the insertion of standards and blanks into the sample stream, and a check assaying program based on checks being given fictitious sample numbers and sent to the same laboratory.
Richard L. Bedell, Certified Professional Geologist, is the Company's designated Qualified Person for this news release.
About Renaissance Gold Inc.
Renaissance Gold is a precious metals exploration company that has a current portfolio of 20 exploration projects in Nevada, one project in Utah, four projects in Argentina and one project in Spain. Sixteen of the projects are in exploration earn-in agreements with ten companies 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's common shares began trading November 10, 2010, on the TSX Venture Exchange under the symbol REN.
Renaissance Gold Inc.
By: Richard L. Bedell, Executive Vice President
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