More anomalous gold at RNS’ 1.2M ounce Okvau deposit in Cambodia

Published at Mar 24, 2015, in Mining

Cambodia-focussed gold explorer Renaissance Minerals Limited (ASX:RNS) has found and confirmed more anomalous gold in soils surrounding its 1.2 million ounce Okvau deposit.

The indicated and inferred 15.2Mt JORC resource (at 2.4 g/tonne gold for 1.2 million ounces) Okvau deposit is in an eastern region of Cambodia that’s emerging as a gold producing province and RNS is developing several other prospects in the area along with it.

A geochemical sampling programme of soils in three of the prospects has identified and confirmed widespread anomalous gold, and RNS says each will be followed up with an extensive exploration programme.

Soil samples show more gold at Okvau

RNS collected and tested over 10,000 soils samples at two areas surrounding its two main Cambodian exploration licenses, Okvau and O’Chhung.

The first area tacked was the O’Svay Prospect within O’Chhung exploration license where a coherent and untested 1,000m long gold in soils anomaly was identified through infill soil sampling.

The second area explored by RNS was the Zeus Prospect within a section of the Okvau license known as Area 6. A high grade 400m long gold in soils anomaly was found there through trench sampling, which returned best results of 19m @4.1g/t Au gold and 12m @5.0g/t of gold.

RNI’s Managing Director Justin Tremain says the results demonstrate the gold mineralisation potential of the Okvau and O’Chhung license areas. “All target areas are located within close proximity to the Okvau Deposit,” he says.

“Any new gold discovery will have a material positive impact on the potential development economics of Okvau.”

Drilling and pre-feasibility study for Okvau area

Meanwhile, RNS is gearing up to drill at another prospect at Area 6 near the Okvau deposit called Rhyolite Ridge where rock chip sampling has retuned up to 11g/t gold along a 1,500m gold in soils anomaly.

RNS says each target has sufficient scale to potentially host a significant gold deposit comparable to 1.2Moz Okvau Deposit. First pass C drilling is expected to get underway at Rhyolite Ridge shortly.

Drilling at the Prek Te Prospect adjacent to the Okvau deposit has returned encouraging results, including 6m @ 2.4g/t gold from 90m and 9m @ 1.4g/t gold from 101m.

RNS says exploration work including ongoing soil sampling, trenching, mapping and data interpretation will continue at its exploration licenses, and it will move to progress pre-feasibility study work on the potential development of the Okvau deposit.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.