Renaissance Gold’s Silicon Project Commented on by AngloGold Ashanti CEO
Wednesday, March 27, 2019 7:00 AM
VANCOUVER, BC / ACCESSWIRE / March 27, 2019 / Renaissance Gold Inc. (TSX-V:REN / OTCQB:RNSGF) ("RenGold") is pleased to share public comments made by AngloGold Ashanti's ("Anglo") CEO, Kevin Dushnisky, during an interview at the recent BMO Global Metals and Mining Conference in Florida, USA. Dushnisky described RenGold's Silicon Project in Nevada as "a very interesting deposit" and "the base of Anglo's increasing presence in North America." Please click on the following link for the full video interview with Dushnisky.
Robert Felder, President and CEO states, "We are happy to hear these positive comments coming from the CEO of Anglo about their work to date on the Silicon Project, and are very pleased with the significant commitment of resources and the rapid advancement of this project by Anglo. All indications point to a significant success."
Anglo entered into an agreement with RenGold in 2017, whereby it has the option to acquire 100% interest in the project by paying RenGold US$3,000,000 by June 21, 2020 (See NRs dated June 30, 2017 and June 11, 2018). Anglo has already paid US$300,000 to RenGold, and the 2nd anniversary payment of US$300,000 is due in June. If Anglo completes the option, RenGold would retain a 1% net smelter return royalty on future production from the project.
RenGold personnel recently visited the project and noted two drill rigs operating (one core and one reverse circulation) and a drill pattern covering approximately 3 kilometers in length.
The Silicon Project is in Nye County, Nevada in the Bare Mountain District near the town of Beatty. Corvus Gold (KOR) is advancing the adjacent Mother Lode deposit and Coeur Mining (CDE) recently acquired the Sterling Mine property from Northern Empire Resources and is advancing that project as well. A map showing relative land positions in the district is shown in Figure 1.
About Renaissance Gold Inc.
Renaissance Gold Inc. is a western US focused prospect generator utilizing a joint venture business model. RenGold applies the extensive exploration experience and high-end technical skills of its founders and team members to search for and acquire high quality precious metal exploration projects that are then offered for joint venture to industry partners who provide exploration funding. RenGold maintains a large portfolio of gold and silver exploration properties and has entered into over 70 exploration agreements including those as its predecessor, AuEx Ventures Inc., and those from Kinetic Gold. RenGold's objective is to place its projects into exploration agreements, testing as many drill targets as possible and providing maximum exposure to success through discovery.
About AngloGold Ashanti
AngloGold Ashanti Limited is a global gold mining company. It was formed in 2004 by the merger of AngloGold and the Ashanti Goldfields Corporation. AngloGold Ashanti Limited is now a global gold producer with 14 operations in nine countries.
All technical data disclosed in this press release has been verified by RenGold's Qualified Person, Robert Felder, M.Sc. and Certified Professional Geologist as recognized by the American Institute of Professional Geologists (AIPG).
By: Robert Felder, President & CEO
For further information, contact:
Robert Felder 775-337-1545 or [email protected]
Ronald Parratt 775-337-1545 or [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.
SOURCE: Renaissance Gold Inc.