Renaissance Minerals (Cambodia) Limited

First movers on the Cambodian Frontier

Renaissance Minerals (Cambodia) Limited is dedicated to the exploration, development and operation of the 100% owned Cambodian Gold Project.

The company is 100% owned by Emerald Resources NL, an ASX-listed company established with international capital.

Okvau Gold Project

In May 2017, the company completed a Definitive Feasibility Study (DFS) on the development of a 2.0Mtpa operation at its Okvau Gold Deposit located in the Mondulkiri province of eastern Cambodia. The DFS was completed to +/-15% level of accuracy. This was updated on 26 November 2019.

  • DFS delivers initial Ore Reserve of 14.3Mt @ 2.0g/t Au for 907,000oz at an average AISC of US$754/oz over an initial 7 year Life-of-Mine (LOM) operating period;
  • DFS is based on a 2.0Mtpa plant to produce approximately 106,000oz pa average over the initial operating LOM of 7 years;
  • An updated Mineral Resource estimate of 17.7Mt @ 2.0g/t Au for 1.14Moz (at 0.7g/t cut-off) with 1.01Moz as Indicated and 0.13Moz as Inferred.

The DFS confirms the robust nature of the Project and following these positive results the Board of Directors has approved the Project to proceed to construction subject to finalising financing arrangements.

Cambodian Gold Project | Location & Cambodian Gold Project | Exploration Licence Areas

Cambodian Gold Project | Location

Cambodian Gold Project | Exploration Licence Areas

 

Regional Exploration

Renaissance Minerals (Cambodia) Limited

In July 2017, Emerald increased its ground position in Cambodia prospective for large scale intrusive related gold systems from 374km² to approximately 1,500km² following the grant of a new exploration licence and having reached agreements to earn-in to five additional exploration licences covering a combined area of approximately 1,124km² in close proximity to the Okvau Gold Project.

These areas have multiple gold occurrences with direct associations with intrusions with pathfinder multi-elements (bismuth, arsenic, tellurium).

Image 1

Koan Nheak Project

The Koan Nheak Project is a Joint Venture with Angkor Gold Corp (‘Angkor Gold’, TSX listed) whereby Emerald may earn up to an 80% interest. Emerald has previously undertaken initial reconnaissance field work within the Koan Nheak exploration licence focusing in and around the Peacock Prospect. No drilling has ever been undertaken within the exploration licence.

Emerald recently completed a first pass RC drill programme on the previously announced gold-in-soil Peacock anomaly (refer to ASX Announcement dated 3 August 2018). The 1,194 metre (15 collars) RC drill programme was designed to both test the peaks of the gold-in-soil anomalism and also the most prospective geophysical IP anomalies and was drilled down to an average depth of 80 metres (refer to Figure 2).

10 of the 15 drill holes intersected zones of quartz breccia with sulphide mineralisation. Each of these geologically noteworthy zones were associated with low level (>0.1g/t) gold mineralisation confirming the existence of a gold mineralised system with the best intersection (8m @ 3.61g/t) being hosted by the diorite intrusive (refer to Figure 2). The significant drill intersections are listed in Table 1.

Table 1 | Significant Drill Intersections

Collar

From

To

Thickness

Au g/t

Interval

RC19PCK002

7

8

1

3.43

1.00 m @ 3.43 g/t Au

RC19PCK003

21

23

2

0.96

2.00 m @ 0.96 g/t Au

RC19PCK003

31

39

8

3.61

8.00 m @ 3.61 g/t Au

RC19PCK009

58

59

1

1.45

1.00 m @ 1.45 g/t Au

RC19PCK011

0

2

2

1.36

2.00 m @ 1.36 g/t Au

 

Figure 1 | Cambodian Gold Project - Exploration Licence Areas

Figure 1 | Cambodian Gold Project - Exploration Licence Areas

The drill programme confirmed the soil anomaly and identified that the best opportunity for additional exploration success is within the diorite itself. The geological logging has identified the mineralisation as a similar style to the 1.14Moz Okvau Gold Deposit being both hosted in a diorite intrusive and associated with sulphide mineralisation. Figure 3 is a cross section of the drill line containing the best intersection, 8m @ 3.61g/t in hole RC19PCK003. This significant intersection is planned to be tested northward along strike into the prospective diorite intrusive when drilling on untested gold-soil-anomaly, Peacock North (refer to Figure 4) commences early next year.

Figure 2

Figure 2 | Location of Peacock Drill Programme

 

Figure 3 | Peacock Prospect Drill Cross Section

Figure 3 | Peacock Prospect Drill Cross Section

 

Figure 4 | Location of Peacock soil anomalies

Figure 4 | Location of Peacock Soil Anomalies

 

Phnom Khtong Project

The Phnom Khtong Project (previously referred to as “Kratie North Project”) JV agreement with Mekong Minerals Ltd, an Australian unlisted company, is summarised in Emerald’s ASX announcement dated 13 July 2017.  The Phnom Khtong Project is located almost immediately to the west of Emerald’s 100% owned O’Chhung exploration licence and the Oh Tron Prospect is located only 50 kilometres from the Okvau deposit. Emerald has the ability to earn up to a 70% interest in the Phnom Khtong Project

The current soil sampling programme followed up on Emerald’s initial exploration programme (refer to ASX Announcement dated 28 November 2018) which consisted of infill auger samples taken across the core of the surface geochemical anomaly previously identified by Southern Gold.  During the current programme, additional auger soil samples have infilled the Oh Tron prospect to a nominal 100m x 50m grid (refer to Figure 5). These results infilled the 500 metre gap between the eastern and western anomalies, joining them together as well as increasing the core of the highest grade contour (+50ppb) by 300 metres on the eastern side of the anomaly.

This current auger soil sampling programme contained 350 samples and returned peak values of 370, 221 and 217 ppb Au. These significant results are in addition to the previously announced (refer to ASX Announcement dated 28 November 2018) auger sampling values of 7,270, 1,570, 602 and 338 ppb Au, and peak rock chip values 38.30, 12.95, 11.55, 9.64, 3.57 g/t Au.

To date, 950 Auger samples have been taken from the Oh Tron prospect by Emerald. These results will assist with the planning of a proposed drill programme.

Figure 5 | Phnom Khtong Project Regional Sampling Results Compilation Map

Figure 5 | Phnom Khtong Project Regional Sampling Results Compilation Map

 

Snoul Project

The Snoul Project is within a Joint Venture with Mekong Minerals Ltd (‘Mekong Minerals’, unlisted) whereby Emerald may earn up to an 70% interest (refer to ASX Announcement dated 13 July 2017). The Snoul Project is located approximately 70 kilometres to the south-west of Emerald’s Okvau Gold Deposit. Airborne magnetic data indicates the project area contains at least six intrusive bodies with associated hornfels alteration haloes. Gold occurrences within the licence area are associated with a series of north-west striking sulphide rich altered veins with a cluster of diorite intrusions.

Emerald has received 333 results from a recently completed auger soil geochemical programme designed to follow up on previously announced (refer to ASX Announcement dated 3 August 2018) auger programme and historical drill results within the Snoul Project.  Historical drilling consisted of a total of 10 RC holes and 37 diamond holes and was targeted partly on a gold anomaly defined by shallow soil samples.

These recent results have infilled the Ok Pok anomaly down to a nominal 100 x 100m spacing and extended the anomaly to the north by an additional 500 metres and identified a new 1,000m x 400m soil anomaly on the Sam Rong prospect (refer to Figure 7).

These results will assist with the planning of a proposed drill programme to infill the significant results referred to below.

Significant results (+10 gram metre) from historical drilling included (for complete results refer to ASX Announcement dated 13 July 2017):-

  • 4m @ 11.94g/t gold from 4m (SNRC002);
  • 16m @ 2.93g/t gold form 4m (SNRC009);
  • 12m @ 1.01g/t gold from 12m (SNRC010);
  • 1m @ 11.36g/t gold from 66m (DD09ANC013);
  • 4.3m @ 4.76g/t gold from 147.2m (DD10ANC025).

Figure 6 | Cambodian Gold Project - Exploration Licence Area for Phnom Khtong Licence and Oh Tron Prospect

Figure 6 | Cambodian Gold Project - Exploration Licence Area for Phnom Khtong Licence and Oh Tron Prospect

 

Figure 7 | Snoul Project Regional Sampling Results Compilation Map

Figure 7 | Snoul Project Regional Sampling Results Compilation Map

 

Emerald Resources NL

Preak Khlong and O’Khtung Exploration Licence Areas

These exploration licences are considered highly prospective for gold mineralisation. Systematic wide spaced shallow soil sampling has been completed on 64% of the exploration licences (by previous operators), principally over mapped and interpreted intrusives and associated alteration haloes with the aim of identifying near surface gold and base metal mineralisation.

The work completed to date has highlighted several mineralised systems. Future planned exploration includes regional shallow soil sampling programmes testing the unsampled portions of both licences to ensure that all potential gold in soil anomalies are identified. 

Figure 8 | Preak Khlong and O’Khtung Exploration Licence Areas

Figure 8 | Preak Khlong and O'Kthtung Exploration Licence Areas

 

Within the eastern part of the Preak Khlong licence airborne magnetics have identified two areas of interpreted intrusive with hornfels alteration haloes (refer Figure 9). The two prospect areas identified for follow up drilling are the ‘Preak Khlong NW Prospect’ and the ‘Gossan Prospect’.

At the Preak Khlong NW Prospect, a 100 metre wide alteration zone hosts a consistent gold mineralised corridor with a thickness of 10 to 30 metres. A total of 7 RC holes and 6 diamond holes have been drilled at the Preak Khlong Prospect which returned highly encouraging results. Auger soil sampling over the identified soil anomalies and follow up drill holes are being planned to comprehensively delineate the prospective mineralisation on this prospect. 

Significant results (+10 gram metre) included (refer ASX announcement dated 13 July 2017):-

  • 1m @ 16.16g/t gold from 74m (RC09-PKL-001);
  • 3m @ 8.92g/t gold from 73m (DD10-PKL-002);
  • 4m @ 10.25g/t gold from 56m (DD11-PKL-006).

Artisanal workings at the Gossan Prospect contain quartz-galena-pyrite veins. Sections of the area have a well-formed laterite cover which was previously mapped as gossanous material, hence the name of the prospect. A total of 17 diamond holes have been drilled at the Gossan Prospect. Auger soil sampling and follow up drill programmes are planned to confirm the existing drill intersections and to test the full extent of potential mineralisation.

Significant results (+10 gram metre) included (refer ASX announcement dated 13 July 2017):-

  • 3m @ 12.94g/t gold from 38m (DD10GSN003A);
  • 3m @ 8.51g/t gold form 58m (DD11GSN009);
  • 2m @ 13.49g/t gold from 89m (DD11GSN015).

Within the western part of the O’Khtung licence, soil sampling has identified several north east trending zones with anomalous gold plus silver, copper, lead, zinc and arsenic (refer Figure 9).

A gold-in-soil anomaly delineated at the ‘O’Khtung Prospect’ extends for an area of 800 metres x 100 metres.  A gold-in-soil anomaly at the ‘Big Toe Prospect’ extends for an area of 950 metres x 300 metres. A total of 19 diamond holes and 3 RC holes have been drilled in these areas which returned anomalous but not significant gold results. This drilling was based almost solely on soil geochemistry rather than geological structural mapping and interpretation. In addition, a high priority gold anomaly has been detected at the ‘Panther Prospect’ which remains ‘open’. No drilling has been undertaken on this prospect.

All of the identified gold in soil anomalies will have infill auger soil sampling programmes completed on them to better delineate and expand on the historical anomalism and assist with targeting of future drill programmes.

Figure 9 | Preak Khlong and O’Khtung Project Geology

Figure 9 | Preak Khnlong and O'Ktung Project Geology

 

The Preak Khlong and O’Khtung exploration licences were previously under application and granted to Emerald in April 2020.