Coeur Mining to Fund Drill Program at Renaissance Gold's Arabia Project

Renaissance Gold Inc. (TSXV:REN) announced that it plans to start drilling at its Nevada-based Arabia project in the second week of March. The work will be funded by Coeur Mining Inc. (NYSE:CDE), which can earn up to a 70-percent stake in the project by completing a bankable feasibility study.
As quoted in the press release:

The 2017 drill program is planned for 2150 m (7050 feet) of reverse circulation (“RC”) drilling in 8 holes to be completed by Boart Longyear. Drilling will focus on structural intersections and dilatational jogs in veins to target Ag-rich polymetallic mineralization. Drilling will also test for additional favorable mineralization hosts below the historically mined veins where stockwork vein zones are targeted. This program builds on previous work completed on the project which includes detailed aeromagnetics and gravity surveys, geologic mapping and 3-D modeling.

Ronald Parratt, president and CEO of Renaissance Gold, commented:

We’re pleased to have Coeur as a partner to support exploration efforts at Arabia. Working with Coeur’s team, we’ve developed an excellent set of drill targets and are excited to see drilling begin. This project coupled with the new generative agreement announced February 9th with Coeur is a great start to the New Year!

Click here to read the full Renaissance Gold Inc. (TSXV:REN) press release.