Composite results from drilling on the Meridiano Project, that was conducted by Renaissance Gold, Inc. (TSX VENTURE:REN), and fully funded by Agnico-Eagle Limited were completed in late 2010.
Drill results include many intercepts of low grade gold mineralization including 39.4 feet of 0.015 opt gold (12 metres of 0.500 g/t gold) and 9.8 feet of 0.040 opt gold (3 metres of 1.376 g/t gold). Ten of the 32 holes drilled have reportable grades (at least ten feet of 0.010 opt).
These intercepts are believed to be at an angle to the steeply dipping structural zones. Most drill holes were at 60 degrees inclination and an estimate of true thickness would be roughly half than the reported intercept thickness. The zones are not entirely planar however and dips do vary, so until 3D modeling is complete the true thicknesses are unknown.
Drilling was primarily focused on recessive, low sulfidation, epithermal structural zones defined by sulfidic breccias in Jurassic age felsic volcanics. This area was discovered using proprietary TM imagery that highlighted a 200m long argillic alteration zone with breccias. Initial rock chip sampling, in this recessive zone, yielded consistent anomalous gold values. Detailed mapping exposed several kilometers strike length of crossing- cutting structural zones and follow-up surface samples of over 8 g/t Au were obtained. Prior work on the property consisted of sampling on siliceous rocks with positive relief and no previous drilling had been done.
These data show that gold mineralization has good horizontal continuity within the structural corridors. Drilling to date has only been shallow however, with the deepest penetration to 453 feet (138 metres) due to the inclination of the drill holes. Most drill holes are much less than 300' (92 metres). Results are being evaluated to consider further exploration. Drill samples were collected following standard industry practice and assayed by Alex Stewart Laboratories of Mendoza, Argentina. Gold results were determined using standard fire assay techniques on a 50 gram sample. QA/QC included the insertion of standards and blanks into the sample stream, and a check assaying program based on checks being given fictitious sample numbers and sent to the same laboratory.
Richard L. Bedell, Certified Professional Geologist, is the Company's designated Qualified Person for this news release.
Source: Agnico-Eagle Limited