Renaissance Gold targeting precious metal exploration projects

• Gold-silver focused exploration company
• Projects mainly located in Nevada
• Involved in around 15 partner-funded projects

What Renaissance Gold does:

Renaissance Gold Inc (CVE:REN) (OTCQB:RNSGF) is a Nevada-based, gold/silver-focused exploration company that emerged as a spin-out from the 2010 acquisition of AuEx Ventures, Inc. by Fronteer Gold, Inc.

Renaissance’s current precious metal exploration projects are primarily located in Nevada, many of which are in earn-in agreements with industry partners.

The company is currently involved in around 15 partner-funded projects, mostly joint ventures.

 It has interests in 13 properties that exhibit Carlin-type geological properties, and eight that qualify as epithermal gold deposits.

Two projects lie right across the Carlin Trend, with two more across the Battle Mountain Trend. In addition, there are two intrusion-related gold deposits.

The company also has the Silicon project in the Bare Mountains mining district of Nye County, Nevada, where in June last year its partner, the major AngloGold Ashanti Ltd (JSE:ANG) decided to keep its 100% earn-in option and made its first-anniversary payment of US$200,000.

How is it doing:

In an update in late March, Renaissance Gold told investors it is in good financial shape amid an uncertain time due to the coronavirus pandemic.

“The COVID-19 threat has created a challenging situation around the world and we are fortunate to live at a time when our technical capabilities allow us to continue with our business remotely, with only minimal disruption,” Renaissance CEO Robert Felder said in a statement, adding that the group has implemented a work from home strategy at both its Reno, Nevada and White Rock, British Columbia, offices until further notice.

The firm’s ‘generative’ activities are continuing and discussions with potential new partners remain ongoing, he added.

As at the end of 2019, the firm said it had C$2.85 million in cash. A US$2.40 million (C$3.48M) payment is due in June this year from AngloGold Ashanti if it chooses to complete its option to acquire the Silicon Project. If it does so, Renaissance will retain a 1% net smelter royalty (NSR) on the project.

The firm currently has six of its projects in option or earn-in agreements but said drilling plans were uncertain, but will be reported when they materialize later in the year.

In early May, the company announced that it had filed 66 unpatented mining claims comprising the Elba project in Esmeralda County, Nevada.

The company noted that the project area is located approximately 45 kilometers (km) west-northwest of Tonopah, Nevada, and sits within a large (8km2) alteration zone which is hosted by an arcuate rhyolite dome field.

It said the claims cover around four square kilometers and are located within a large alteration zone characterized by an alunite-kaolinite-buddingtonite mineral assemblage, consistent with alteration typical of the upper levels of an epithermal gold system.

Renaissance Gold noted that Elba is part of the “prolific” Walker Lane mineral trend and that historic drilling had intersected anomalous gold of between 0.1-0.7 grams per tonne (g/t) and mercury up to 10 parts per million in opalite horizons and breccia.

Inflection points:

• News on discussions with potential new partners
• AngloGold Ashanti payment if it chooses to complete option to acquire the Silicon Project

What the boss says

Commenting on the Elba acquisition in May, Renaissance Gold president and chief executive, Robert Felder said: “Our generative team has continued to effectively employ our proprietary exploration model to develop high-quality targets.

“Elba shares significant favorable characteristics with our Silicon project, and we believe it represents a meaningful discovery opportunity. We are happy to see AngloGold’s interest in this target area, which is not surprising considering the striking similarities to Silicon.”

Story by ProactiveInvestors