RENEX Exploration Announces Discovery of New Gold at Lingman Lake Project
RENEX Exploration Limited is pleased to announce the discovery of new gold occurrences confirmed from rock sampling assay results from its 2022 exploration program at its Lingman Lake Project in northwestern Ontario, Canada.
Exploration assay results have identified a new near-surface and high priority structural setting for gold mineralization approximately 375 metres from the recently drill-tested target which returned 0.92 g/t Au over 114 m. Rock samples assayed at the now-established areas are encouraging, as highlighted by the discovery of two new mineralized occurrences approximately 60 m apart, where grab samples have returned gold values including 25.60 g/t Au, 7.10 g/t Au and 4.42 g/t Au. Further gold assays associated with Lingman Lake now define an interpreted east-west trending gold mineralized shear structure over an approximately 60 m trend, which remains open. The Lingman Lake project and recently tested areas are located approximately 12 km southeast of Sachigo Lake.
"This discovery of a new zone of gold mineralization is a significant advancement in our regional exploration efforts for the Lingman Lake project," stated Harrison Royce, Chief Geologist of RENEX Exploration Limited. "Our ability to identify higher-grade gold mineralization only a few metres from our successful drilling of Lingman Lake demonstrates the strong potential for a significant gold endowment regionally. The project represents a strong opportunity to further grow the Lingman Lake area exploration opportunity through additional field campaigns, strongly validating our exploration strategy and targeting methodology."
Results of the Lingman Lake follow-up exploration program confirmed surface mineralization, shear structures and an alteration expression that is coincident with a series of resistivity low signatures. Regional transects were then conducted to the north of the existing Lingman Lake operations to further infill outcrop mapping as well as prospect a sub-parallel resistivity low trend which occurred proximal to an area of anomalous gold in historical soil samples (100 ppb Au). Investigation of the geoscience components led to the new discovery.
