Renaissance Minerals encouraged by recent Okvau exploration results
THE DRILL SERGEANT: Renaissance Minerals (ASX: RNS) has been encouraged by the receipt of further results from ongoing work, including regional soil geochemical sampling and a recently-commenced RC drilling program, being carried out on the company’s Okvau gold deposit in Cambodia.
Renaissance has been undertaking a regional soil geochemical program targeting large areas of the Okvau and adjoining O’Chhung license areas that have previously been unexplored.
Both licenses are 100 per cent-owned by the company.
The soil program is currently around 75 per cent complete and consists of over 10,000 sample locations, which more than doubles the area that has been subject to historical geochemical sampling.
“The soil sampling program continues to define further areas of significant gold anomalism,” Renaissance Minerals said in its announcement to the ASX.
Renaissance has completed soil sampling through a corridor of over 10 kilometres to the north of Okvau, which it said had returned strongly anomalous gold in soils.
Okvau North prospective corridor. Source: Company announcement
“This 10 kilometre corridor is positioned in a favourable geological setting along the western margin of the large diorite intrusion that hosts the Okvau deposit,” the company said.
“The size of this anomalous area indicates the potential for very large mineralised systems.”
The company has defined a new copper-gold anomaly to the east of the Okvau gold deposit called the Superman prospect.
Renaissance considers Superman to display a new style of mineralisation it has not previously seen within the project area.
The prospect has returned high-grade rocks including:
– 8.38 grams per tonne gold and 9.28 per cent copper;
– 5.07g/t gold and 0.39 per cent copper;
– 1g/t gold and 1.13 per cent copper; and
– 0.85g/t gold and 2.3 per cent copper.
Initial RC drilling has been undertaken approximately 500m to the north-west and north of the Okvau gold deposit to test for primary gold mineralisation beneath anomalous gold in soils and where the company had previously encountered 9m at 6.6g/t from surface from diamond drilling.
Results include:
– 20m at 2.05g/t gold from 38m;
– 3m at 3.97g/t gold from 21m;
– 2m at 4.70g/t gold from 33m; and
– 3m at 2.07g/t gold from 80m.
Drilling is now shifting to the south, south-east of Okvau and the large Area 6 multi-element supported gold in soil anomaly located approximately 12 kilometres to the west of Okvau.
Additional diamond drilling is also being planned on the Okvau gold deposit to test for further extensions to the mineralisation.
Renaissance has commenced working on a new upgraded independent JORC resource estimate for the Okvau gold deposit, which it expects will be available around March/April 2013.