Renaissance Uranium (ASX:RNU) is expecting assay results in December from drilling at silver targets at its Gairdner deposit, which is located at prime discovery tenure in South Australia.
Initial drilling of silver targets confirm presence of alteration consistent with the proposed epithermal model for Lower Gawler Range Volcanics.
The Gairdner project is close to the Glenloth Goldfield and the emerging Tunkillia gold project currently being assessed by Mungana Gold.
The current drilling program at the project consists of nine reverse circulation drill holes, totaling 1200 metres, of which Renaissance has drilled four holes.
It will develop its copper, gold and silver projects in South Australia with a strong pipeline of drilling activities planned over the next six months.
While its near-term focus is on copper, gold and silver, recent low cost acquisitions of uranium projects and planned drilling activities in its uranium and graphite tenements are expected to serve its medium-term strategy.
And with a strong cash position of A4.5 million, it is well funded to carry out its drilling plan.
Its recently secured licence at Eyre Peninsula has also demonstrated analogous mineralisation to the nearby Hillside Copper project.
Initial tests from Renaissance's Olary project also confirm multiple elevated gold intercepts and the company is likely to conduct infill sampling and RC drilling in the next six months.
Near-term it is also going to conduct extensive aeromagnetic survey and drill testing over the Marree project targeting copper mineralisation.
While Renaissance is likely to focus on metals in the next few months, it is likely to do drill clearance work at its Warrior brownfield uranium project in January followed by similar work at Tanners Dam in April next year.
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