Renaissance Gold Inc. (TSX: T.REN, Stock Forum) said its first of two drill holes intercepted 1.25 metres grading 4.88 grams er tonne gold, 2.59% copper and 16.7 grams per tonne silver at its Baza project in Spain.
The Baza Project, located in Almeria Province, comprises a 12,000-hectare land package still in the exploration phase.
According to the Renaissance Gold press release, a second hole drilled, intercepted 7.35 metres of 0.15% copper and 0.15 grams per tonne gold.
Renaissance Gold is a gold/silver exploration company with projects in Nevada, Utah, Argentina and Spain.
On Tuesday morning, Renaissance Gold was trading at $0.64 a share. The company has a market cap of $19.7 million, based on $30.7 million shares outstanding. The 52-week high and low was $1.57 and $0.55 respectively.