- Renascor Resources (RNU) has expanded its Carnding Gold Project within the gold-rich Central Gawler Craton of South Australia
- This follows the approval of a new exploration licence which includes a large magnetic anomaly at the Soyuz prospect and other geochemical gold anomalies
- Earlier this month, Renascor identified new prospects including the Soyuz, Mir and Sunshine gold prospects
- Soyuz, in particular, returned anomalous intercepts grading up to 16.42 grams per tonne gold
- Renascor will now seek approvals to undertake further on-ground activities at Soyuz and the other gold targets
- Company shares have dropped 6.25 per cent and are trading for 1.5 cents each
Renascor Resources (RNU) has expanded its wholly-owned Carnding Gold Project within the gold-rich Central Gawler Craton of South Australia.
The expansion follows the approval of ELA 2020/00110. The newly acquired exploration licence includes an extension of a large magnetic anomaly at Renascor’s Soyuz prospect. The expanded project area also includes additional geochemical gold anomalies.
Renascor isn’t the only company eyeing the prolific Central Gawler Craton. The region is currently experiencing increased gold exploration and development activity. This includes the proposed redevelopment of the nearby Tarcoola gold mine and the Tunkillia gold deposit by Barton Gold.
Earlier this month, Renascor identified new prospects including the Soyuz, Mir and Sunshine gold prospects. Being granted the ELA 2020/00110 allows Renascor to access additional prospective exploration areas adjacent to the gold prospects within its Carnding Gold Project.
The Soyuz prospect recently returned anomalous gold intercepts including seven metres at 5.14g/t gold from 26 metres to end of hole, including two metres at 16.42g/t gold from 30 metres and six metres at 4.94g/t gold from 14 metres.
The magnetic anomaly at Soyuz extends from the southern boundary of Carnding into the newly acquired exploration licence. Soyuz is defined by two kilometre-by-one kilometre magnetic and gravity anomalies along the northern margin of a Hiltaba-type granite.
The gold target zone remains open at a shallow depth and along-strike and Renascor believes there’s potential for further gold mineralisation.
In addition to Soyuz, the newly-granted area includes numerous geochemical gold anomalies defined by broad-scale and infill calcrete sampling.
Several gold anomalies appear to be similar to discrete magnetic highs and the company plans to further evaluate these.
Next steps include seeking approvals to undertake more on-ground activities, such as geochemical sampling and ground geophysics, at Soyuz and other gold targets in the project area.
Company shares dropped 6.25 per cent today, August 10, and are now trading for 1.5 cents each at 1:38 pm AEST.