Drill results Renaissance Gold′s Baza Spain Gold-Copper Project
Renaissance Gold Inc. (TSX:REN) ('RenGold?) is pleased to
announce the drilling of two core holes at its Baza project in southern
Spain. One of these holes (CG-01) intercepted the Cerro del Gallo vein,
yielding 1.25 meters of 4.88 grams gold/tonne, 2.59% copper and 16.7 g/t
Ag.
The Baza Project comprises a 12,000-hectar land package in Almeria
Province of Southern Spain on the southern slopes of the Sierra de los
Filabres. Mineralization is associated with siderite-albite veins and
breccias with chalcopyrite, arsenopyrite, pyrite, and their oxidized
equivalents. The mineralization is regionally situated in the internal
zone of the Betic Orogen in highly deformed schists and phyllites, but
the mineralization itself is post-orogenic and undeformed. Dozens of
prospects and old mines explored and mined multiple kilometers of
iron-rich veins whose gold and copper contents were largely neglected.
No prior modern exploration for gold and copper had been conducted prior
to the involvement of RenGold and its predecessor, AuEx Inc. Over two
million dollars in recent technical data have now been generated in the
district by RenGold and its joint venture partners. This data includes
regional stream sediment samples, rock chips, structural and
stratigraphic mapping as well as magnetic, electromagnetic and
radiometric data and drilling. Previous press releases discuss earlier
released results.
At Cerro del Gallo, a system of siderite-albite veins and breccias has a
minimum strike length of 1.5 km. The average of all channel samples
across veins at surface is 3.5 g/t Au and 0.66% Cu over an average width
of 2.6 meters, and individual selective rock chip samples assay up to 19
g/t Au and 10% Cu. Drill hole CG-01 intersected the main Cerro del Gallo
vein at a depth of 111.15 to 112.40 meters (a width of 1.25 meters with
a true thickness estimated at 0.9 to 1.2 meters), with a grade of 4.88
grams gold/tonne, 2.59% copper and 16.7 g/t Ag. The interval is part of
a thicker 3.25-meter sulfide-bearing zone containing pyrite,
chalcopyrite and arsenopyrite as veins, veinlets, disseminations, and
breccias in the interval of 111.15 to 114.4 meters.
A second hole (VAL-01) drilled at the Valenciano prospect intercepted a
7.35-m-long interval of 0.15% Cu and 0.15 g/t Au at a depth of 123.65 to
131.00 meters. Included within this zone is 1.75 m of 0.318% Cu and
0.387 g/t Au starting at a 123.65 m depth. A second interval at -274.7
to 278.1 meters yielded 0.19% Cu over 3.4 meters, including 1.2 m of
0.32% Cu. Select surface samples of significantly higher grade vein
material (up to 6.8% Cu and 39 g/t Au) have been obtained at Valenciano
and further drilling is warranted.
A new prospect called Minaleja is yielding high gold and copper grades
in recessive vein material in an area with no evident previous
exploration. Except for small isolated outcrops, the veins are
completely hidden by near-surface unconsolidated materials. Rock chip
grab samples range up to 44 g/t Au and 7.9% Cu, and two channel samples
taken across vein exposures contained 22.6 g/t Au and 0.18 % Cu over a
length of 0.8 meters across strike (approximate true thickness 0.75
meters), and 23.9 g/t Au and 5.23% Cu over a length of 0.9 meters across
strike (true thickness unknown). A follow-up detailed mapping and
trenching program is planned.
Richard Bedell, President & CEO, comments: 'We are very excited by the
drilling as it allows us to view and sample unoxidized material from the
Cerro del Gallo and Valenciano vein systems for the first time. The
results are encouraging because they confirm the significant gold and
copper grades documented by extensive surface sampling. The new high
grade prospect at Minaleja is a huge opportunity as this mineralization
is almost completely hidden. Our extensive stream sediment geochemical
survey has identified highly anomalous gold concentrations in other
catchment basins whose hard-rock gold sources remain hidden. This is a
district scale opportunity with unusually high grades and a unique style
of mineralization.?
QAQC
All drill core was transported by our personnel from drill site to a
nearby secure storage facility for logging, and sampling by our
geologists. The core is halved using a rotary diamond blade core saw,
with one half of the core sent for analysis, while the other half is
retained in the core boxes for reference.
All half-core samples were sent for preparation to ALS Minerals facility
in Seville Spain. The resulting pulps were shipped to their laboratory
in Vancouver BC Canada for assay including Au using the Au-ICP21 fire
assay and ICP-AES determination method and ME-MS61 method (48 elements
by 4 acid digestion and ICP-MS and ICP-AES determinations).
A system of reference samples (blanks, duplicates and certified
standards) were routinely inserted in each sample batch in addition to
the laboratory's own internal QA/QC standards and duplicates, and are
reviewed by our geologists.
Qualified Person
All technical data disclosed in this press release, including sampling,
analytical and test data, have been reviewed by the Company′s qualified
person Mr. Richard L. Bedell, M.Sc., and Certified Professional
Geologist as recognized by the American Institute of Professional
Geologists.
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 or rbedell@rengold.com
or
Eric
Struhsacker, 775-337-1545 or estruhsacker@rengold.com
