Published: February 10, 2016 |

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Renaissance Minerals has raised a tidy $3.4 million at $0.03 each for development of its Cambodian gold project from sophisticated and institutional investors.

The Okvau deposit has a 1.1 million ounce resource grading 2.2g/t gold although this appears likely to grow given Okvau is still open in terms of mineralization and has numerous untested nearby gold targets to add ounces.

Renaissance added a joint venture partner in Emerald Resources NL which can earn up to a 51 percent stake in the project and it took part in the placement and will hold 10 percent of Renaissance on completion.

Emerald has a track record in successful development of gold projects for Equigold NL and, most recently, as an operational director of Regis Resources.

Emerald will fund a Definitive Feasibility Study for the development of Okvau Gold Deposit to a bankable level, an environmental & Social Impact Assessment and a 2 year exploration program of US$3 million.

The project has compelling economic metrics including planned production to 100,000 ounces per annum over 8 year mine life from a single pit with average all-in-costs of US$735 per ounce.

Source: (February 9, 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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