Renaissance Uranium (ASX: RNU) has identified untested high priority targets at the company's wholly owned Eastern Eyre Project in South Australia.
The geological/geochemical targets have been identified from examination of drill core of historical prospects, offering high-grade copper targets within broad zones of intense hydrothermal alteration and anomalous copper geochemistry.
Highlighting the prospectivity of the area, additional targets include untested gravity and magnetic anomalies situated within the mineralised Roopena Fault Zone.
These targets are adjacent to historical copper prospects, where previous drilling intersected ironoxide, copper-gold-uranium (IOCGU) style mineralisation and alteration.
Renaissance will conduct further, detailed geophysical surveys before the end of 2012, with first-pass drilling scheduled for early in the New Year.
Analysis
Renaissance had around $4.5 million in cash at the end of September 2012, and with a market cap. of just $5 million - the company is trading near cash backing.
The company will have active drill programs which will deliver strong news flow through 2013, with the immediate focus on high value drill targets, with exposure to copper, gold and silver.
The medium term focus is uranium and graphite.
Renaissance has a binding agreement to acquire rights to historic Warrior uranium project in Central Gawler Craton of South Australia.
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