Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Renaissance Gold advances as Couer Mining options into Cine Mountain project

Upon signing, Coeur made a one time payment to the firm of US$50,000, Renaissance said.
Renaissance Gold advances as Couer Mining options into Cine Mountain project
Cine Mountain and F2 graben are in Nevada - currently a mining hotspot

Prospect generator firm Renaissance Gold Inc (CVE:REN) saw shares add over 4% in Toronto as it outlined recent progress and said it had struck an option deal on the Cine Mountain project in Nevada.

The agreement grants Coeur Mining ( a subsidiary of Couer Explorations Inc) the option to acquire a 70%  stake in the project by spending US$3mln over three years, with a minimum annual work commitment of US$250,000.

Upon signing, Coeur made a one time payment to the firm of US$50,000, Renaissance said.

The project consists of 177 unpatented claims and covers a large area of precious metal bearing jasperoids, mainly in Devonian and Mississippian carbonate and clastic host rocks.

The group said that 109 surface samples taken from the project range in grade from below detection limit up to 10.4 g/t (grams per ton) of gold, including several samples in excess of 1 g/t of the yellow metal.

Interpretation of the rock chip geochemistry suggests the possibility of two geochemical signatures - one characterized by gold, silver, aresenic, antimony -  with a second being silver, lead, zinc and antimony and copper, similar to the nearby historic Tybo district.

Also in today's update, Renaissance said it had staked claims on a new project called the F2 graben, covering a new gold exploration target in Pershing County, Nevada.

The target model resembles the geologic setting of the high-grade Sleeper gold mine, which lies around 75 km to the north in Humboldt County.

"We are very pleased to have Coeur as a partner in exploration, both through the generative alliance and now as an exploration partner on Cine Mountain," said Robert Felder,  Renaissance's president and chief executive.

"We look forward to continuing this productive relationship. This earn-in agreement with Coeur brings the company to eleven properties in deals and funded by partners.

"We are also happy to announce two new projects coming out of our generative program this year and to have already placed one in a deal with Coeur."

Ronald Parratt, the executive chairman, added: "I'm pleased to see Renaissance so effectively executing its prospect generator/joint venture model.

"The company has meaningfully ramped up its exploration drilling in 2017 and will again in 2018. A strong generative program and effective marketing for new partners will help sustain this effort and improve our chances for a new discovery."

Shares in Toronto added 4.17% to stand at C$0.25.

View full REN profile View Profile

Renaissance Gold Timeline

Related Articles

Picture of green hills in Serbia
July 20 2018
Taor held two exploration licences totalling around 100 sq km adjacent to the Suva Ruda licence
Gold pour
March 15 2018
Total gold equivalent ounces (GEOs) produced clocked in at 189,456, up 17% on the 161,289 GEOs produced in 2016...
Kiziltepe
June 07 2018
"We acknowledge the continuing disconnect between our share price and the value of our assets when assessed in terms of the in-situ value of our resource and reserve ounces."

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use