Renaissance Uranium (ASX: RNU) is kicked off a drilling campaign for iron-oxide, copper-gold-uranium (IOCGU) at the company's wholly-owned Kokatha IOCGU prospect within the Gairdner project area in South Australia’s Gawler Craton.
The program will cover around 1200 metres to wrap up in mid-June, and include deeper drilling at Kokatha to follow-up on a induced polarisation survey - which indicated the possible conductive target immediately south of the company's previous drilling.
As part of the program, there will also be first-pass testing of a major intrusive complex at the company's wholly-owned Sherrys Dam and Tanners Dam Projects, with a focus on a linear magnetic anomaly consistent with a possible skarn-style target along the margin of the intrusive.
Renaissance had $3.1 million in cash at the end of March 2013, and based on the last traded share price of $0.047 has a market cap. of around $5 million.
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