RENAISSANCE GOLD'S SILICON PROJECT COMMENTED ON BY ANGLOGOLD Renaissance Gold Inc. has shared public comments made by AngloGold Ashanti's chief executive officer, Kevin Dushnisky, during an interview at the recent BMO Global Metals and Mining Conference in Florida, United States. Dushnisky described Renaissance Gold's silicon project in Nevada as "a very interesting deposit" and "the base of Anglo's increasing presence in North America."
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 Renaissance Gold in 2017, whereby it has the option to acquire 100-per-cent interest in the project by paying Renaissance Gold $3-million (U.S.) by June 21, 2020 (see news releases dated June 30, 2017, and June 11, 2018). Anglo has already paid $300,000 (U.S.) to Renaissance Gold, and the second anniversary payment of $300,000 (U.S.) is due in June. If Anglo completes the option, Renaissance Gold would retain a 1-per-cent net smelter return royalty on future production from the project.
Renaissance Gold personnel recently visited the project and noted two drill rigs operating (one core and one reverse circulation) and a drill pattern covering approximately three kilometres 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.