Business
Confederation Minerals Acquires the Bull and PCM Projects in Arizona
(via TheNewswire) Vancouver, British Columbia, Canada / TheNewswire / July 5, 2017 - ...
About this update from Renegade Gold Inc.
[{"type":"text","content":"Confederation Minerals Acquires the Bull and PCM Projects in Arizona(via TheNewswire)\n \n \nVancouver, British Columbia, Canada / TheNewswire / July 5, 2017 - Confederation Minerals Ltd. (TSX-V: CFM) (\"Confederation\" or the \"Company\") has signed binding letters of intent (\"LOI's\") to add two additional exploration projects to their expanding portfolio of high quality assets. The Bull and PCM Projects are both located near the Arizona-California-Nevada border in Mojave Co., Arizona, approximately 20 to 40 km west of Kingman, Arizona. The LOI's call for an initial 30 day due diligence period followed by cash and share payments, escalating annually as described below. \n\n \n \nThe Bull Prospect consists of 6 existing unpatented claims and 86 recently staked unpatented claims, all on Bureau of Land Management (BLM) land. The Bull claims cover an area of silicified breccia and quartz-calcite stockwork zones at the low angle contact between Pre-Cambrian Granite and Tertiary volcanic rocks, a classic detachment environment. Surface sampling at Bull has returned grades of up to 3.54 g/t Au and drill results up to 18.2 m of 1.71 g/t Au, (complete results report below). \n\n \n \nThe PCM Project is located about 45 miles to the east-northeast of Bull with 21 unpatented claims that lie on strike to the north-northwest of the historic Hackberry Mine, a high grade, underground silver mine. Chip and grab sampling of outcropping veins and small prospect pits returned results of up to 12.53 g/t Au and 933 g/t Ag, (complete results report below).\n\n \n \nCarl Hering, President and CEO of CFM said \"The minimal drilling that has been completed to date at Bull has returned consistent grades and widths and is open to expansion. Limited surface sampling rarely returns values this impressive in an unexplored terrain such as at PCM.\" \n\n \n \nThe Bull claims cover areas of silicified breccia with quartz-calcite stockwork zones at the low angle contact of Pre-Cambrian Granite and Tertiary volcanic rocks, a classic detachment environment. Surface rock chip sampling by the owner and check sampling by a geologist returned strong gold values from two areas on the Property, the Bull North, in the northern portion of the Property and the Roadside area, which lies near the southern end of the large claim block. Both areas have seen limited drilling...