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Renaissance Gold sells its South Roberts gold project in exchange for a 1% royalty on future gold production

South Roberts is on the Battle Mountain-Eureka trend of prolific gold deposits in Nevada and just south of McEwen Mining’s Gold Bar mine

Renaissance Gold, Inc. -
In June, Renaissance announced plans to merge with Evrim Resources to form a new multifaceted business called Orogen Royalties

Renaissance Gold Inc (CVE:REN) (OTCQB:RNSGF) is selling its South Roberts gold project in Nevada to a private US company as part of the firm’s evolution from prospect generator to royalty company.

The Vancouver-based company will retain a 1% net smelter return (NSR) royalty interest on any future production from South Roberts and a 0.5% NSR on any production from a separate group of claims known as RW.

Located in Eureka County, South Roberts is on the Battle Mountain-Eureka trend of prolific gold deposits and just south of McEwen Mining’s Gold Bar mine.

READ: Renaissance Gold announces transformational deal with Evrim Resources to form leading prospect generator and royalty company

The project targets concealed Carlin-type gold mineralization and has not been adequately drill tested, providing opportunity for “world-class” discovery, according to Renaissance.

In June, Renaissance announced plans to merge with Evrim Resources Inc to form a new multifaceted business called Orogen Royalties Inc, which will focus on project generation buttressed by a strong royalty portfolio.

Orogen's royalty portfolio will contain a 2% NSR on the Ermitaño West gold deposit in Sonora, being developed by First Majestic Silver Corp and planned to be in production in 2021, and a 1% NSR on the Silicon gold project in Nevada, operated by AngloGold Ashanti NA.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

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Price: 0.68 CAD

TSX-V:REN
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