FSC / Press Release
Renaissance Gold Announces Budget Approval for 3rd Round Drilling at Spruce
Mountain, Elko County, Nevada
White Rock, British Columbia CANADA, August 07, 2013 /FSC/ - Renaissance Gold
Inc. (REN - TSX), ("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 agreement.
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%
* 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
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 firstname.lastname@example.org or Eric Struhsacker,
775-337-1545 or email@example.com
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, should change.
To view the press release as a PDF file, please click on the following link:
Source: Renaissance Gold Inc. (TSX: REN) http://www.rengold.com
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-0- Aug/07/2013 10:59 GMT
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