Renaissance Gold Announces Earn-In Agreement with Walmer Capital Corp. at its Golden Shears Gold-Silver Project, Nevada
26 Mars 2015 - 12:00PM
Business Wire
Renaissance Gold Inc. (TSX: REN) (“RenGold”) is pleased
to announce the execution of an earn-in agreement (the
“Agreement”) with Walmer Capital Corp. (“Walmer”) on
the Golden Shears Project in Clark County, Nevada. The project is
located 45 km (28 miles) southwest of Las Vegas, Nevada in the
Goodsprings Mining District.
Upon execution of the Agreement, Walmer will pay RenGold
US$50,000, reimburse claim fees for the past year and fund an
exploration and development program to be conducted initially by
RenGold. Minimum work commitments on an annual basis are US$200K
for year 1, US$300K for year 2, US$400K for year 3, and US$500K
annually thereafter to year 7. Walmer and RenGold plan to work
together to complete a Bankable Feasibility Study on or before the
seventh anniversary of the execution of the Agreement, in which
case Walmer will have the option to acquire a 70% interest in the
project.
The Golden Shears Project is a series of precious and base metal
rich occurrences on the east side of the Goodsprings District,
partially hosted in a shear zone and related to a string of shallow
intrusions mostly interpreted through recent ground geophysics and
mapping completed by RenGold. This zone is > 2.5 km (1.5 miles)
in strike length. Sampling by RenGold on the property has yielded
assays from below detection up to 5.1 % Zn, 2.62 % Pb, 4.3 % Cu,
937 ppm Ag, and 14.3 ppm Au.
The Goodsprings Mining District is unusual for Nevada in that it
includes Zn and Pb Mississippi Valley-type deposits, Cu sometimes
associated with precious metals and platinum group elements, and
gold ± silver deposits associated with late (Triassic) porphyritic
dikes.
Richard Bedell, President and CEO of RenGold, comments: “This is
a great target as it contains high grades of precious and base
metal mineralization in a zone with significant strike length. In
addition, the targets are shallow and should allow extensive
testing at relatively low cost.”
Qualified Person
All data disclosed in this press release, including sampling,
analytical data, have been reviewed by the Company’s qualified
person Mr. Richard L. Bedell, M.Sc., and Registered Professional
Geologist as recognized by the Society for Mining, Metallurgy and
Exploration.
About Renaissance Gold Inc.
Renaissance Gold Inc. is a gold/silver exploration company that
has a large portfolio of exploration projects, now focused mainly
in Nevada and Utah. RenGold’s objective is to place the projects in
exploration earn-in agreements with industry partners who provide
exploration funding. RenGold applies the extensive exploration
experience and high-end technical skills of its founders and team
members to search for and acquire new precious metal exploration
projects that are then offered for joint venture.
Renaissance Gold Inc.
By: Richard L. Bedell, President and CEO
For further information, contact:
Richard L. Bedell, 775-337-1545 or rbedell@rengold.com or Eric
Struhsacker, 775-337-1545 or estruhsacker@rengold.com
This news release contains certain statements that may be deemed
“forward-looking” statements. Forward looking statements are
statements that are not historical facts and are generally, but not
always, identified by the words “expects”, “plans”, “anticipates”,
“believes”, “intends”, “estimates”, “projects”, “potential” and
similar expressions, or that events or conditions “will”, “would”,
“may”, “could” or “should” occur. Although Renaissance Gold Inc.
believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results may differ
materially from those in forward looking statements. Forward
looking statements are based on the beliefs, estimates and opinions
of Renaissance Gold Inc’s management on the date the statements are
made. Except as required by law, Renaissance Gold Inc. undertakes
no obligation to update these forward-looking statements in the
event that management’s beliefs, estimates or opinions, or other
factors, should change.
Renaissance Gold Inc.Richard L. Bedell,
775-337-1545rbedell@rengold.comorEric Struhsacker,
775-337-1545estruhsacker@rengold.com
Renaissance Gold (TSXV:REN)
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