Renaissance encouraged by Okvau drilling results

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THE DRILL SERGEANT: Renaissance Minerals has received results from the first three drill holes from an inaugural diamond drilling program being carried out at the company’s Okvau gold deposit in Cambodia.

Renaissance has previously announced an independent JORC-compliant indicated and inferred resource estimate for the Okvau deposit of 12.6 million tonnes at 1.8 grams per tonne gold for 729,000 ounces of gold.

 

Okvau deposit location, Cambodia. Source: Company announcement

Initial results from the initial three (3) diamond core holes highlight both high grade and broad zones of gold mineralisation at shallow depth, which the company considers to demonstrate potential to increase the Okvau deposit with shallow drilling.

Results from the drilling include:

–    16 metres at 3.7 grams per tonne gold from 13 metres and 3 metres at 2.1 grams per tonne gold from 61 metres;

–    1m at 15.7g/t gold from 6m, 1m at 5.1g/t gold from 21m, 1m at 6.2g/t gold from 29m, 1m at 90.1g/t gold from 62m, and 7m at 2.0g/t gold from 71m; and

–    11m at 1.2g/t gold from surface.

“The results from just the first three holes drilled at Okvau support our expectation that the deposit could grow considerably beyond the current resource estimate,” Renaissance Minerals managing director Justin Tremain said in the company’s announcement to the Australian Securities Exchange.

“We now have two rigs drilling step out holes on the Okvau deposit and targeting nearby high priority prospects which are supported by promising soil geochemistry.

“Drilling will continue through the wet season and we look forward to reporting results as they come to hand.”

Renaissance said the recent drilling results also demonstrate diorite intrusion extending further to the west than it had previously interpreted.

The company expects this will have positive implications for the expansion of the existing resource estimate.

Mineralisation at the Okvau deposit starts at surface and remains open at depth and along strike.

The company is continuing an extensive diamond drilling program targeting extensions to Okvau along the western and southern margins of the diorite intrusion that hosts the gold mineralisation.

Renaissance is also targeting a number of new prospects along the margins of the same diorite intrusion that extends for approximately eight kilometres to the north, which it said are supported by highly anomalous gold in soils.