Sign up USA
Proactive Investors - Run By Investors For Investors

Renaissance Gold updates on Nevada projects and 2018 drilling plans

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 - Robert Felder
Nevada sign
The company said there are firm plans to drill at least seven of the projects this year

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.

READ: Renaissance Gold unveils encouraging gold finds at Jupiter project in Nevada

At its Spruce East Project, Kinross Gold USA, Inc, a subsidiary of Kinross Gold Corp (NYSE:KGC; TSX:K) has informed the company that it will be back for another round of drilling.

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.

Similarly, Kinross Gold has also opted not to proceed with the Diamond Point project and Renaissance Gold is currently assessing the remaining target potential.

READ: Renaissance Gold says Buffalo Canyon drill results underline potential

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.

Ramelius Resources Ltd (ASX:RMS), which completed a Phase 1 drill program at the Jupiter project, is evaluating the results and plans a follow-up drilling in the summer.

READ: Renaissance Gold advances as Couer Mining options into Cine Mountain project

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.”

View full REN profile View Profile

Renaissance Gold Timeline

Related Articles

Gold bullion
March 11 2018
An expanded prefeasibility study has confirmed the potential to generate annual production of 200,000 ounces at Matilda-Wiluna.
September 17 2018
Cradle Arc is ramping up copper production at its Mowana project, and further expansion is on the cards
August 28 2018
Production of concentrate is now underway, as development work continues

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright ©, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use