Renaissance Minerals announces 1.2M ounce gold resource

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THE DRILL SERGEANT: Renaissance Minerals (ASX: RNS) has announced a JORC-compliant gold Indicated and Inferred resource estimate for the company’s 100 per cent-owned Okvau gold deposit in Cambodia, of 15.6 million tonnes at 2.4 grams per tonne gold for 1.2 million ounces.

The resource estimate comprises 15.2 million tonnes at 2.3g/t gold for 1.11 million ounces of gold classified into the Indicated resource category plus 0.5 million tonnes at 5.9g/t gold for 0.1 million ounces of gold classified into the Inferred resource category.

“Renaissance acquired the project less than 12 months ago and its initial drilling program completed in 2012 has already resulted in a major resource increase of 65 per cent and a 33 per cent improved gold grade to 2.4 grams per tonne,” Renaissance Minerals managing director Justin Tremain said in the company’s announcement to the Australian Securities Exchange.
 
“The project is proving to be a very attractive high grade project with significant scale.

“The Okvau deposit covers only a small part of the project area and demonstrates the prospectivity of this unexplored region of Cambodia.

“Results achieved to date vindicate our belief that the eastern region of Cambodia will evolve into a major new gold province in an emerging country with a stable democratic Government.”

 

Okvau Exploration License area. Source: Company announcement

 

The resource estimate includes drilling completed by Renaissance on the Okvau gold deposit during 2012.

Renaissance is currently undertaking a 25,000 metre RC drilling program targeting high priority prospects within close proximity of the Okvau gold deposit.

The company has two RC rigs drilling and has just completed a surface geochemical sampling program that generated multiple targets to drill test over the current exploration field season.

All of these targets are situated within 15 kilometres of the Okvau gold deposit.

The company’s current drilling program is targeting further resource growth at the Okvau deposit.