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Renaissance Gold updates on Nevada projects and 2018 drilling plans

Tuesday, February 13, 2018 6:41
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Renaissance Gold Inc (TSX:REN) has issued an update on its drilling projects in Nevada and its anticipated drilling plans for 2018.

In its statement released on Tuesday, the company said there are firm plans to drill at least seven of the projects this year.

READ: Renaissance Gold unveils encouraging gold finds at Jupiter project in Nevada

At its Spruce East Project, Kinross Gold USA, Inc, a subsidiary of Kinross Gold Corp (NYSE:KGC; TSX:K) has informed the company that it will be back for another round of drilling.

This includes a second year minimum expenditure of US$200,000 to maintain the option.

Kinross Gold however has decided not to proceed with its earn-in on the Buffalo Green project, despite the 2017 drilling programme encountering long runs of low-grade gold mineralisation, including the highest single assay received to date of 5.34 g/t Au.

The project is now being actively marketed to attract a new venture partner, the company said.

Similarly, Kinross Gold has also opted not to proceed with the Diamond Point project and Renaissance Gold is currently assessing the remaining target potential.

READ: Renaissance Gold says Buffalo Canyon drill results underline potential

On its Silicon project located in the Bare Mountains, Nye County in Nevada, AngloGold Ashanti, North America Inc, a subsidiary of Anglo Gold Ashanti (NYSE:AU, JSE:ANG, ASX:AGG) has notified the company that it has started a diamond drill program in January 2018 and plans to drill approximately 3,000 meters.

At its three projects – Pluto, South Roberts and Ecru – its partner, S3 Resources Ltd (ASX:S2R)  has recently finished geophysical and geochemical surveys at South Roberts and plans additional geophysical surveys at Ecru.

S3 plans to drill both projects in the spring, the company added.

Ramelius Resources Ltd (ASX:RMS), which completed a Phase 1 drill program at the Jupiter project, is evaluating the results and plans a follow-up drilling in the summer.

READ: Renaissance Gold advances as Couer Mining options into Cine Mountain project

At the Cine Mountain Project, Coeur Explorations Inc (NYSE:CDE), it plans to develop drill targets to be tested this year.

Radius Gold Inc has completed the necessary baseline studies at the Spring Peak Project in Mineral County, to satisfy the US Forest Service permitting requirements and is finalising the steps to get the required bonding in place.

It is planning for drilling to take place in the summer.

In a statement, Robert Felder, President and CEO said: “It is exciting to begin the year with strong partners actively exploring several of our projects and having firm plans to drill at least 7 of these projects during 2018.

“We continue to generate and acquire new projects, actively market to attract more funding partners and remain committed to creating shareholder value through discovery.”

Story by ProactiveInvestors


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