WHITE ROCK, British Columbia--(BUSINESS WIRE)--
Renaissance Gold Inc. (REN.TO) (“RenGold”) has received results from Newmont USA Limited (“Newmont”) on the Wood Hills South Project in the evolving Pequop Gold District, Elko County, Nevada.
In 2014, Newmont collected 392 grid soils over shallow pediment, did detailed pediment morphology mapping and ran 13 line kms of CSAMT. With remaining funds, Newmont drilled 5 RC holes totaling 990 meters (3,247 feet). No reportable intercepts were encountered in this preliminary round of drilling.
The Wood Hills South Project was an unbudgeted item and was run from money re-allocated from other projects. Newmont has elected to decline further exploration and the property is available for joint venture unencumbered by previous partners.
Based on prior work, RenGold has demonstrated that the Pequop gold district likely extends into the southeast edge of the Wood Hills South gold project. As announced, February 6th, 2012, Hole WHS11-007 intersected an oxidized 10.7 meter (35 feet) interval from 83.8 to 94.5 meters down hole that averaged 0.40 g/t (0.013 opt) gold within an approximately 60 meters (197 feet) zone of anomalous Carlin-style pathfinder elements and gold. The project area covers a magnetically indicated northeast trending dike swarm similar in orientation to a dike swarm in the Pequops that appears associated with Carlin-type mineralization. This mineralization occurred prior to the basin and range extension that pulled the Wood Hills and the Pequops apart.
Richard Bedell, President and CEO of RenGold, comments: “We look forward to quickly getting Wood Hills South into another agreement as there are still quality targets left to test. This is a large 8,896 hectare (14,842.5 acre) property and it is going to take more than a handful of drill holes to be effective. Importantly, the NE trending magnetic anomaly associated with mineralization in the Pequops remains untested.”