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Renaissance Gold updates on busy exploration period

Last updated: 19:23 17 Oct 2018 BST, First published: 14:23 17 Oct 2018 BST

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The firm is focused on western US

Prospect generator  Renaissance Gold Inc (CVE:REN) updated investors on a busy period of exploration across its projects and said it had brought two new ones into its portfolio.

This includes the Mars project and the recently acquired Ghost Ranch project. The latter lies in Elko County, Nevada and was acquired through staking open ground.

READ: Renaissance Gold to start trading on US OTCQB venture market

"Our activity levels remain quite high and we're pleased to be drilling this many partner-funded projects, keeping us on the path to our next discovery," said Robert Felder, the president and chief executive.

"We very much look forward to the follow-up programme at Silicon and this first drill program at Ecru.

"We have also been quite busy with generative exploration and continue to identify high-quality targets, which we look forward to placing in new deals with strong partners."

The Silicon project in Nevada is under option to major AngloGold Ashanti, which has reported plans to drill a 17,000-metre follow-up program beginning in the fourth quarter of  2018.

Meanwhile, the  Ecru project, in Lander County, Nevada, is subject to an earn-in agreement with S2 Resources Ltd, which has completed additional gravity and audio magnetotellurics (AMT) surveys over the project and is planning to begin drilling in coming weeks.

Renaissance also noted today that at the Spring Peak project, the company had been notified by Radius Gold Inc that it has decided to terminate its option to earn a 70% interest. Radius Gold did not complete any drilling and the targets remain untested.

Meanwhile, at Cine Mountain, Coeur Explorations Inc has informed the firm that it has decided to terminate its option to earn a 70% interest. Coeur did not complete any drilling on the project and the targets remain untested.

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