Article from Proactive Investors this has to be good indicator for Exco and Polymetals of finding some sort of an extension around Whitedam?.
Renaissance Uranium (ASX: RNU) has defined gold drill targets from infill geomchemical sampling at the Cutana Project, to the north and southwest of the White Dam gold mine in South Australia, operated by Polymetals Mining (ASX: PLY) in joint venture with Exco Resources (ASX: EXS).
Earlier work by Renaissance had identified anomalous gold zones in the Cutana Project, defining seven major prospects to the north and southwest of the White Dam gold mine.
Five high priority gold target areas have been identified from combined gold, silver, copper and uranium geochemistry, with two targets coincident with strong magnetic response.
The exploration program for the Cutana Project is targeting gold in extensions into Renaissance?s project area of regional structures interpreted to control the localisation and mineralisation of the White Dam gold deposit, located just five kilometres from Renaissance?s project area.
Before the commencement of Renaissance?s work at Cutana, only limited geochemical sampling at a density of approximately 500 metres had been undertaken on the project area, which was regarded as insufficient for locating White Dam-style gold deposits.
White Dam gold mine is located 80 kilometres west of Broken Hill, comprising an open pit mine, dump/heap leach, gold extraction plant and associated infrastructure and is expected to produce a total of 120,000 ounces of gold over a two year mine life.
Drilling at Cutana is scheduled to commence next quarter, pending regulatory and land access clearances.
EXS Price at posting:
62.0¢ Sentiment: Hold Disclosure: Held
