Geophysics Confirms Expansion Potential at Trinity Silver Project, Pershing County, Nevada
Renaissance Gold Inc. (TSX: REN) ('RenGold?) is pleased to
announce the completion of a comprehensive geophysical program at its
Trinity Silver exploration project, Pershing County, Nevada. The Gravity
and Induced Polarization (IP) surveys highlighted new buried drill
targets that could significantly expand the known mineralization.
Liberty Silver is currently completing an initial drilling program on
the Trinity Silver property and assay results from the program are
expected to be released in the near term.
The program was designed and interpreted by James Wright of J.L. Wright
Geophysics from Elko Nevada. The project included gravity (532 stations
covering 26 sq. km (16.16 sq miles)) carried out by Magee Geophysical
Services and IP (11 lines covering 35 line km (21.75 sq miles))
completed by Zonge Geoscience, both out of Reno NV.
The main pit area has an existing NI 43-101 compliant silver inferred
resource containing 2.6 Moz of oxide (1,901,000 tons at 1.37 oz/ton) and
9.0 Moz of sulphide (5,336,000 tons at 1.69 oz/ton) at $17/oz (see
RenGold press release dated February 28, 2011) that does not include
wide-spread drilling around the pit. Mining was abandoned in the 1980′s
due to a $4/oz silver price.
To the south, the gravity survey defined a graben that hosts the
existing mineralisation and the interpreted graben extends southward and
northward. An IP chargeability anomaly underlies the existing pit and
known mineralization. Further south along the same graben another
chargeability anomaly is found. This anomaly is found on 4 IP lines and
has a minimum dimension of 600 meters by 500 meters (1,968 by 1,640
feet). US Borax, who operated the historic mine drilled 3 holes over
this area, but they were not deep enough to reach the chargeability
anomaly. They encountered up to 43 grams/tonne (1.38 opt Ag) in a 1.5
meter (4.92 feet) interval. The top of the chargeability anomaly is
estimated to be at a 152 meter (500 foot) depth.
To the southwest, historic aeromagnetics with gravity and IP suggest
extensions of the known mineralization along the Trinity fault.
To the north, along the interpreted graben that hosts the known
resource, the new IP data were merged with historic IP data done in 1983
and indicate possible extensions to the north of the existing pit.
Richard Bedell President and CEO comments: 'We think highly of Bill
Tafuri and his team at Liberty Silver and are happy with Jim Wright
being the director of the geophysics. We agree with Bill, that the
results of these surveys are very encouraging and they demonstrate the
potential for extending the known resource under the covered areas. They
also have defined specific targets to drill under the covered areas
making the exploration program much more focused and cost effective. We
look forward to further drilling by this team given the new targeting
information.?
Liberty Silver Inc. Earn-in agreement
Liberty Silver Corp. is required to expend a minimum of US$5,000,000 and
complete a bankable feasibility study by March 29, 2016 to earn an
undivided 70% interest in the property, subject to the underlying
minerals lease agreement with Newmont Mining Corporation.
Qualified Person
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
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.
Renaissance Gold Inc.
Richard L. Bedell, 775-337-1545
rbedell@rengold.com
or
Eric
Struhsacker, 775-337-1545
estruhsacker@rengold.com
