Published: February 5, 2016 |

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Renaissance Minerals has secured Emerald Resources as a development partner in a deal that will see the promising Okvau gold project in Cambodia advanced to a bankable level.

The binding agreement will cover development of Renaissance’s entire Cambodian gold portfolio, which includes a 1.1-million-ounce resource at Okvau and adjoining licenses over about 400 square kilometers of a recently discovered intrusive related gold province.

Emerald will sole fund works at Okvau to completion of a Definitive Feasibility Study (DFS) and an Environmental and Social Impact Assessment (ESIA).

Emerald may earn up to a 51 percent stake in the properties by funding a two-year exploration program to US$3 million (A$4.3 million).

Renaissance had previously estimated that the cost of the DFS and ESIA alone would be in the vicinity of US$4-5 million (A$5.7-A$7.1 million).

In addition to joint venture funding, Emerald will become a 10 percent shareholder in Renaissance through participation in a A$3.4 million equity placement.

The partnership is considered a boon to Renaissance’s Cambodian ambitions as Emerald boasts one of the best credentialed gold development teams in Australia with a proven history of developing projects successfully, quickly and cost effectively.

The fact that this team has been attracted to Okvau is a testament to the project’s potential.

Source: (February 3, 2016) Proactive Investors

About Renaissance Minerals
Renaissance Minerals is targeting large gold systems in an emerging intrusive related gold province in Cambodia.

To stop by Renaissance’s website, CLICK HERE

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