Renaissance Gold signs agreement to expand Ecru project in Nevada
Nevada-based, gold-silver-focused Renaissance Gold Inc. (CVE:REN) announced Thursday it has entered into a mining sublease agreement with Newmont USA Ltd., covering approximately 1,120 acres of mineral rights adjacent the firm’s controlled claims on its Ecru project in Lander county in Nevada.
The Ecru project is located in the Cortez area on the prolific Battle Mountain-Eureka trend of gold deposits.
“We are very pleased to have completed the Newmont Lease and bring this prospective ground into our project. We are now in a position to most effectively test the targets on the project, exploring for Carlin-type gold mineralization in this world class district,” said president and chief executive officer Robert Felder.
The Newmont Lease is for a period of 10 years, with an option to extend the lease for an additional five years, and then indefinitely so long as mining, development or processing operations are being conducted on the property on a continuous basis.
RenGold is required to make annual payments to Newmont which will be deemed advance royalty payments to be offset against any future royalty obligations in the event of a mine being developed. Newmont holds a 0.875% net smelter return (NSR) on the leased ground.
READ: Renaissance Gold: refining the art of mineral exploration
The Newmont Lease area lies within the area of interest of an investment agreement with S2 Resources Ltd. (ASX:S2R), and will be included in the existing earn-in terms of that agreement. S2 will be responsible for maintaining the Newmont Lease during the term of the agreement.
The company said the existing geophysical coverage (gravity and audiomagnetotellurics (AMT) will be extended over the Newmont Lease ground in the coming weeks, to help to provide maximum data for the siting of the planned initial deep stratigraphic/reconnaissance drilling, which is planned for Q4, 2018.
Shares of Renaissance Gold were down 5% at C$0.19 on Thursday.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/202151/renaissance-gold-signs-agreement-to-expand-ecru-project-in-nevada-202151.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).