Renaissance Gold Inc (TSX:REN) has issued an update on its drilling projects in Nevada and its anticipated drilling plans for 2018.
In its statement released on Tuesday, the company said there are firm plans to drill at least seven of the projects this year.
This includes a second year minimum expenditure of US$200,000 to maintain the option.
Kinross Gold however has decided not to proceed with its earn-in on the Buffalo Canyon project, despite the 2017 drilling programme encountering long runs of low-grade gold mineralisation, including the highest single assay received to date of 5.34 g/t Au.
The project is now being actively marketed to attract a new venture partner, the company said.
On its Silicon project located in the Bare Mountains, Nye County in Nevada, AngloGold Ashanti, North America Inc, a subsidiary of Anglo Gold Ashanti (NYSE:AU, JSE:ANG, ASX:AGG) has notified the company that it has started a diamond drill program in January 2018 and plans to drill approximately 3,000 meters.
At its three projects – Pluto, South Roberts and Ecru – its partner, S2 Resources Ltd (ASX:S2R) has recently finished geophysical and geochemical surveys at South Roberts and plans additional geophysical surveys at Ecru.
S2 plans to drill both projects in the spring, the company added.
At the Cine Mountain Project, Coeur Explorations Inc (NYSE:CDE), it plans to develop drill targets to be tested this year.
Radius Gold Inc has completed the necessary baseline studies at the Spring Peak Project in Mineral County, to satisfy the US Forest Service permitting requirements and is finalising the steps to get the required bonding in place.
It is planning for drilling to take place in the summer.
In a statement, Robert Felder, President and CEO said: “It is exciting to begin the year with strong partners actively exploring several of our projects and having firm plans to drill at least seven of these projects during 2018.
“We continue to generate and acquire new projects, actively market to attract more funding partners and remain committed to creating shareholder value through discovery.”