Renaissance Minerals has announced further positive results from its most recent diamond drilling program at the 1.2 million ounce Okvau Gold Project. Drilling was done outside the current resource envelope, where a zone of high grade mineralization has been well defined.
The drilling also targeted high grade zones within the existing resource envelope, to test the geological model in areas that lacked previous drilling.
Renaissance’s managing director Justin Tremain says, “The results support the company’s geological model of the Okvau deposit and demonstrate the predictability of high grade shoots.
“The grade of the intercepts on the western margin of Okvau and validity of the geological model indicate potential to enhance the current resource grade of the Okvau deposit. Furthermore, drilling outside of the Okvau resource has defined additional shallow mineralization with excellent grade.”
The latest drilling results are from 1443 metres of diamond drilling completed. Drilling was undertaken northeast of the Okvau deposit, outside the current resource envelope, and also along the western margin of the deposit.
Recent geological modelling of the deposit has defined the controls on gold mineralization. This work has highlighted that the north south trending western margin of the Okvau diorite intrusive and its intersection with moderately dipping and steeply dipping structures controls the location of high grade zones.
Three diamond holes for 667 metres were drilled to test this model by targeting predicted high grade zones that had not been properly tested by previous drilling. Furthermore, these holes were drilled from the west, in contrast to most previous drilling at Okvau, to test the actual diorite contact itself.
Best results are 11 metres from 196 metres @ 3.6 grams/tonne gold, 8 metres from 237 metres @ 10.7 grams/tonne, 15 metres from 252 metres @ 2.7 grams/tonne, 15 metres from 290 metres @ 5.7 grams/tonne including 6 metres from 299 metres @ 12.9 grams/tonne, 10 metres from 95 metres @ 3.0 grams/tonne, and 20 metres from 159 metres @ 2.4 grams/tonne.
Five diamond holes for 776 metres were drilled at Okvau North East following up on previous encouraging drill results. This drilling has continued to identify additional gold mineralization from surface, outside the existing Okvau resource estimate. The additional drilling has demonstrated that mineralization is hosted by a north south trending fault (east dipping), which offsets the broadly north east trending Okvau diorite contact zone.
Significant results from this drilling include 3 metres from 89 metres @ 6.1 grams/tonne, 3 metres from 59 metres @ 4.2 grams/tonne, 1 metre from 113 metres @ 8.1 grams/tonne, 2 metres from 108 metres @ 3.1 grams/tonne and 2.3 metres from 112 metres @ 12.5 grams/tonne.
Renaissance has worked up a number of exploration targets within close proximity to the Okvau deposit to a stage that they are ready for drill testing. The company plans to commence drill testing these exploration targets in the coming months.
In addition, the company continues to advance studies on the potential development of the deposit. Recent development activities include ongoing metallurgical test work, commencement of environmental and social baseline data collection programs and scoping level capital and processing cost estimation. www.renaissanceminerals.com.au