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Renaissance Gold to carry out grass roots exploration for Coeur in Nevada

Thursday, February 9, 2017 8:14
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(Before It's News)

Renaissance Gold Inc (CVE:REN) has extended its relationship with Coeur Mining Inc (NYSE:CDE) by given the US group first refusal rights over a number of prospects in Nevada.

Coeur will pay Renaissance US$250,000 per year for two years to carry out grass roots exploration.

After that, any project Coeur wants to go forward with will require exploration spending of up to US$3mln over three years for a 70% stake.

Ronald Parratt, Renaissance’s chief executive, said: “We are very excited to have a growing relationship with such a strong company as Coeur.

“Not only are they funding exploration of our Arabia project but are now willing to also finance grassroots exploration.”

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/172931/renaissance-gold-to-carry-out-grass-roots-exploration-for-coeur-in-nevada-172931.html

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