Renaissance Gold Announces Budget Approval for 3rd Round Drilling at Spruce
Mountain, Elko County, Nevada
WHITE ROCK, British Columbia -- August 7, 2013
Renaissance Gold Inc. (TSX: REN) (“RenGold”) is pleased to announce the
approval of a third round drill budget at the Spruce Mountain project, located
in eastern Elko County, Nevada. The drilling program at Spruce Mountain is
funded by Summit Mining Exploration, Inc., (“Summit”) a US subsidiary of
Sumitomo Corporation pursuant to the the third year of an exploration earn-in
The US$525,000 budget will include 6,900 feet (2,104 meters) of reverse
circulation drilling, following up critical targets defined by earlier
drilling in 2011 and 2012 that include gold, silver and base metal
mineralization. Past drilling by RenGold at Spruce Mountain included
intercepts such as:
*RSM-15 intersected 25 feet (7.6 meters) of 20 g/t Ag and 0.23% Cu from
1050 to 1075 feet (320 - 327.7 meters) within a 195 foot (59.4 meter)
interval of 0.28% Zn.
*RSM-22 intersected 189.5 feet (57.8 meters) of 0.06% Mo offsets and
validates historical drill results in the Sprucemont area.
*RSM-02 intersected 80 feet (24 meters) of 0.23% Zn.
*RSM-03 intersected 50 feet (15 meters) of 0.35% Zn.
*RSM-07, intersected 50 feet averaging 217 ppb gold from a depth of 280 to
330 feet. RSM-07 intersected mineralization spanning the unconformable
contact of the calcareous Pilot Shale and the underlying limestone of the
Guilmette Formation. This intercept lies about 2,000 feet (600 meters)
north of a cluster of gold intercepts obtained in six reverse-circulation
drill holes completed in 1985 by Santa Fe Mining Inc. including 70 feet
(21 meters) of 0.076 opt Au (2.36 g/t Au). RSM-07, also, intersected 10
feet (3 meters) of 4.4% zinc in Joanna Limestone.
Further north of this area of gold mineralization is a CSAMT conductor
identified by RenGold that could represent an alteration halo that is much
larger than any of the other known areas of mineralization on the property. A
portion of this proposed drilling will include testing this and other larger
step out targets for potential mineralization.
Richard Bedell President and CEO of RenGold comments: “The Spruce Mountain
Project is a complex multi-phase Eocene intrusive center similar in age to
Bingham Canyon to the east and the Mount Hope molybdenum deposit to the south.
The molybdenum mineralization is interesting given our drill success in
combination with the historic drilling but the driver is to follow up other
base metals, particularly Pb-Zn-Cu and of course silver and gold. The gold
focus is on the Carlin style mineralization even though there are a number of
multi-gram gold samples in skarn mineralization related to the numerous
intrusions found in the mining district. The CSAMT target to the north along
strike from the growing Carlin-style mineralization is of the size and
magnitude that could provide a strong win for us and Summit."
All data disclosed in this press release, including sampling, analytical and
test data, have been reviewed by the Company’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, Utah, Argentina and Spain. 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
For further information, contact:
Richard L. Bedell, 775-337-1545 or email@example.com or Eric Struhsacker,
775-337-1545 or firstname.lastname@example.org
This news release contains certain statements that may be deemed
“forward-looking” statements. Forward looking statements are statements that
are not historical facts and are generally, but not always, identified by the
words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”,
“projects”, “potential” and similar expressions, or that events or conditions
“will”, “would”, “may”, “could” or “should” occur. Although Renaissance Gold
Inc. believes the expectations expressed in such forward-looking statements
are based on reasonable assumptions, such statements are not guarantees of
future performance and actual results may differ materially from those in
forward looking statements. Forward looking statements are based on the
beliefs, estimates and opinions of Renaissance Gold Inc’s management on the
date the statements are made. Except as required by law, Renaissance Gold Inc.
undertakes no obligation to update these forward-looking statements in the
event that management’s beliefs, estimates or opinions, or other factors,
Renaissance Gold Inc.
Richard L. Bedell, 775-337-1545
Eric Struhsacker, 775-337-1545
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