WHITE ROCK, British Columbia--(BUSINESS WIRE)--Renaissance Gold Inc. (TSX: REN) (“RenGold”) is pleased to announce that core drilling started October 2nd at the Arizona Mine area on the Fourth of July Project, fully funded by Summit Mining Exploration II, Inc., (“Summit II”) a US subsidiary of Sumitomo Corporation.
The project lies in the northern portion of a prolific belt of silver+/-gold deposits in the Humboldt Range in Pershing County that includes the evolving Spring Valley Project (>5 M.Oz. Au) being developed by Midway Gold and Barrick, the Coeur Rochester Mine with over 300 million ounces in silver and 1 million ounces of gold endowment, and the growing Relief Canyon gold project under development by Pershing Gold.
The Arizona mine was one of the largest silver producers in Nevada between 1860 and 1880. Past mining of precious metals focused on high-grade flat reefs in Triassic-age Prida Limestone. Drilling will test large-tonnage targets beneath the Prida Limestone in a sequence of Koipato-group rhyolite flows, tuffs, and intrusive porphyries that are the major hosts of mineralization at the nearby Spring Valley and Rochester deposits. Specific targets include stockworks, hangingwall fault splays, fault intersections, and reactivated structural zones.
The initial 3,000-foot core drill program will test first-priority targets and document the three-dimensional geologic setting in preparation for a larger program in 2015 that will include reverse circulation drilling.
Richard Bedell, President and CEO of RenGold comments: “Historically this is a very rich mining area which has received no modern exploration. Our recent property consolidation in the district allows us to proceed in a more comprehensive manner where others couldn’t. In addition, the recent resource growth at the nearby Spring Valley, Coeur Rochester and Relief Canyon projects makes this part of the Humboldt Range one of the more successful exploration areas in Nevada in the last decade."
All data disclosed in this press release, including sampling, analytical and test data, have been reviewed by RenGold’s qualified person Mr. Eric M. Struhsacker, M.Sc., and Certified Professional Geologist as recognized by the American Institute of Professional Geologists.
About Renaissance Gold Inc.
Renaissance Gold Inc. is a gold/silver exploration company that has a large portfolio of exploration projects in Nevada, and Utah. Many of the projects are in exploration earn-in agreements with industry partners who provide exploration funding. RenGold applies the extensive exploration experience and high-end technical skills of its founders and team members to search for and acquire new precious metal exploration projects that are then offered for joint venture.
Renaissance Gold Inc.
By: Richard L. Bedell, President and CEO
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