Renaissance Gold Exploration Update
Renaissance Gold Inc. (TSX: REN) ('RenGold?) is pleased to report
its exploration plans over the summer months and the remainder of 2012.
Richard Bedell President & CEO comments: 'The traction of Renaissance is
considerable. Despite the current downturn in the junior mineral
exploration market, we have 15 projects in exploration and joint venture
agreements with active exploration programs being funded by those
partners. The summer season is traditionally slow for the markets, but
is the core of our field season and these activities should produce
significant results for the Company. The Company′s July 11, 2012, press
release on Trinity Silver is an example of an asset that is growing
through exploration.?
Great Basin Projects, Nevada and Utah
Arabia is an orogenic gold system with a mining history. RenGold
controls a significant land position including staked lode claims and
purchased patented mining claims. Detailed geologic mapping and directed
structural mapping to locate mineralized shoots has generated several
drill targets. RenGold is conducting and funding a trenching program to
further quantify persistent gold and silver numbers at surface that will
start next week.
Big Gossan is a dominantly copper system with some gold. The
mineralized gossan is adjacent to a skarn with a buried magnetic low
that trends NW for 1.5 km and runs into an old copper mine with the same
trend. This is a recent agreement (Press Release June 11, 2012) funded
by Summit Mining Exploration, Inc., a U.S. subsidiary of Sumitomo
Corporation.
Goldstar is an orogenic gold system that is being advanced by
Cassini Resources Ltd. (ASX:CZI). Surface samples include up to 19 g/t
Au in tourmalinized aplite and quartz stockworks. Currently the property
is being mapped and undergoing a detailed ground magnetic survey.
Trenching and possibly an IP survey are planned before drilling,
possibly later this year.
Leonid is a Carlin-style system south of the Railroad Gold
project owned by Gold Standard Ventures Corp. Leonid is also being
explored and funded by Cassini. Mapping has just been completed and a
sampling program designed for more detailed rock chips is planned. A
2400 sample soil survey has just been completed and sent to the lab for
assay. Additionally, a gravity survey has been contracted to start late
July. Some initial stratigraphic holes may be drilled by the end of the
year.
Pasco Canyon is the third project under agreement to Cassini.
Pasco Canyon is an epithermal system located on the east side of the
Toquima Range in proximity to Round Mountain, Gold Hill and
Northumberland. Cassini started a drill program on July 9, 2012, of at
least two 1500 foot diamond core holes. If the first two holes yield
encouraging results, Cassini plans to continue with two additional 2,000
foot holes.
Reef is a gold exploration project adjacent to Midway Gold
Corp.′s Pan Project, Nevada. Reef is operated by Golden Dory Resources
Corp. (TSXV: GDR) and is advancing with further drill target
consideration.
RoseMine operated by Navaho Gold Pty Ltd of Brisbane,
Australia (ASX:NVG) is being considered for further drilling.Targets
include multi-ounce silver results and a disseminated gold system
associated with jasperoids.
Spruce Mountain funded by Summit Mining Exploration, Inc., a U.S.
subsidiary of Sumitomo Corporation, will be drilled in late August,
testing a variety of targets for base metals, silver and gold. The
current plan is to drill about 5,500 feet of reverse circulation, 4,000
feet of mud rotary and 7,000 feet of core.
Trinity Silver is operated by Liberty Silver Corp. (TSX: LSL,
OTCBB: LBSV). On July 11, 2012, the Company released the results of 18
new drill holes that are largely outside of the NI 43-101 resource area.
All 18 holes had reportable intercepts. Continued work will focus on
getting a small deposit into production with plenty of targets available
to continue the resource growth.
Wildcat is operated by Newmont Mining and are planning to drill
almost 10,000 feet of RC. The targets are high grade gold-bearing
jasperoids with values up to 3 opt at the surface. The gold targets are
in favorable Cambrian to Ordovician carbonate stratigraphy.
Wood Hills South, southwest across the valley from the Pequop
Gold District, is operated by NuLegacy Gold Corp. (NUG:TSXV) who is
planning a second round of holes later in the year. This drilling is
focused on a follow up to WHS11-007 which intersected an oxidized 10.7
meter (35 feet) interval from 83.8 to 94.5 meters down hole which
averaged 0.40 g/t (0.012 opt) gold. The mineralized interval was within
an approximately 60 meter (197 feet) zone of anomalous Carlin-style
pathfinder elements and gold. Additionally, this hole is adjacent to an
elongate gravity low that is a prime drill target. NuLegacy is planning
6 holes with 6,000 feet of drilling for the early fall of 2012.
In addition, new projects are being generated that will be added to our
available joint venture opportunities and begin to be marketed for
exploration agreements in the near future.
Spain
Baza is advancing in geologic concept with the recent recognition
of hydrothermal breccias associated with the high grade Cu-Au
siderite-albite veins. A just completed structural study demonstrates
that processed magnetic survey data can be used directly to define drill
targets on concealed structures related to known mineralization. Recent
challenges with government filing regulations have been resolved with
the help of supportive local and regional governments, with the result
that the land package is being consolidated, which will significantly
facilitate future exploration work.
Santa Cruz Province, Argentina
A recent letter of intent agreement has been signed with Atala Resource
Corporation to advance exploration of the Meridiano and Covadonga
projects.
Funding by Agnico-Eagle Mines Limited (TSX: AEM) for the Gertrudis and
El Monte projects is continuing. Data from a 4 km trenching program
at El Monte is being compiled at present and drilling is expected to
start in the fall.
Chile
A regional exploration program is underway in northern Chile. A Chilean
subsidiary is being organized to hold any mineral projects acquired and
field work will begin in the last quarter of 2012.
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
