Encore Renaissance News Releases |
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December 31, 2009
ENCORE RENAISSANCE PLANS $5,000,000 FINANCING
Encore Renaissance Resources Corp. has entered into private placements for the sale of up to 25 million units at 20 cents per unit for a total of $5-million, where each unit consists of one common share of the company and one-half of one whole share purchase warrant and each whole share purchase warrant shall have a one-year term from the date of issuance for the purchase of one further common share of the company at the exercise price of 50 cents.
The company shall use the proceeds of the offering for general working capital.
A finder's fee of a combination of cash, shares and/or warrants will be paid to eligible finders in relation to this financing, all in accordance with regulatory policies.
This private placement is subject to approval by the TSX Venture Exchange.
December 10, 2009
ENCORE RENAISSANCE DISCOVERS THREE NEW MINERALIZED VEINS WHILE PREPARING UNDERGROUND TUNNEL TOWARDS MAIN ZONE
Encore Renaissance Resources Corp. (the “Company”) (TSXV symbol EZ) reports that exploration work has encountered three new mineralized veins. These veins were revealed during the completion of the surface exploration work program and while preparing to develop its underground workings.
Michael Mulberry, President of Encore commented, "The discovery of additional veins in close proximity to the known veins on the property is very encouraging and management anticipates that these new veins will add to the company’s long term growth.”
The Portal Entrance to the planned underground development is the starting point of the planned decline/ramp. This ramp will give the company underground access to the 14 known veins on the property, as it continues mining its bulk test sample.
The Portal Entrance, which is set on the Raven vein, has provided the positive discovery of more sulphide mineralization than was anticipated. By advancing the decline/ramp underground, the company expects to intersect all 3 new veins located between the Raven and The Eagle veins. The onset of winter conditions and mobilization of production demands have not yet allowed full investigation of these additional veins but it is known that they do contain sulphide mineralization.
The discovery of these additional veins in close proximity to the Raven and Eagle veins which contain high sulphide content, are adding to the company’s long term bulk test mining potential. Each vein will be tested during the mining process to determine the overall grade of the mineralization.
The company is very encouraged by this development that is adding to the 14 known sulphide rich veins on the property.
The company is continuing the underground bulk mining test adding to its shipments of mineralized rock to Kinross Gold’s (K-TSX, KGC-NYSE ) mill in Washington State for processing.
Encore is a well diversified junior with projects that include its flagship property, The Bonaparte Gold Mine, located near Kamloops, British Columbia. Encore also has approximately 5,200 contiguous acres bordering Underworld Resources in the Yukon, approximately 160,000 contiguous acres of land prospective for lithium in Alberta, 30 claims at the Dolly Varden Copper Gold Property located in North Eastern Nevada, USA and 6,660 acres of land in the Stewart Mining Region of British Columbia.
This release has been reviewed by Laurence Stephenson P.Eng. the designated Qualified Person.
November 26, 2009
ENCORE RENAISSANCE RESOURCES CORP. GRANTS OPTIONS
Encore Renaissance Resources Corp. has granted, pursuant to its 2009 rolling stock option plan, up to 12 million incentive stock options to directors, officers and consultants at an exercise price of 15 cents per share for five years. These shares are subject to a hold period expiring March 27, 2010.
November 23, 2009
ENCORE RECEIVES UNDERGROUND MINING APPROVAL FROM THE BC GOVERNMENT
Encore Renaissance Resources Corp. (the “Company”) (TSXV symbol EZ) is pleased to report that the company has been granted a permit by the BC ministry of mines to commence underground operations at the Company’s flagship property, the Bonaparte Gold Mine, near Kamloops British Columbia.
Underground extraction will commence immediately with further shipments of mineralized material to Kinross Gold’s (K-TSX, KGC-NYSE ) mill in Washington State. The additional mineralized material will be trucked from the Bonaparte property to the Kinross facilities at Republic, Washington, where it will then be processed together with the substantial tonnage already stockpiled there from the recently completed Bonaparte surface mining activities.
Michael Mulberry, President of Encore comments, “This is a substantial milestone achieved in the development of the Bonaparte Gold Mine. Having the BC Mines approval means the company can now focus on the development of the mine with an expected steady flow of mineralized material to be shipped to Kinross for sales. Management is very excited at the imminent realization of gold sales especially when you consider gold prices are at all time highs. Few junior companies have producing operations, but we are encouraged by the progress of the ongoing bulk test mining at Bonaparte that Encore may soon be joining that select group.”
Scheduling of Encore’s processing through that mill’s, cyanide, carbon in-leach, precious mineral extraction circuit is expected to be completed shortly with the first payment to Encore immediately thereafter.
Preliminary testing by the mill has indicated that the recovery of gold from Bonaparte samples and potentially the whole proposed bulk sample was 97% (a large sample of material was sent to the facilities grading 1.4 ounces per ton). The mill reported as follows, “Results for latest test series are complete; recovery for best test with the use of lead nitrate to assist recovery was excellent at 97.5%. Recovery for the test without lead nitrate was 85.7%. For the best test the lime consumption was 10 lb/ton, but appears we can use less. The cyanide consumption was 20.7 lb/ton, but also appears we can use less. The next test series will be conducted on the actual as received material to confirm the results above and fine tune them for the actual mill run.” Also the Gravity separation test has shown a very positive result with over 80% recovery of the gold bearing sulphides from a simple coarse grind is possible.
Encore is a well diversified junior with projects that include its flagship property, The Bonaparte Gold Mine, located near Kamloops, British Columbia. Encore also has approximately 5,200 contiguous acres bordering Underworld Resources in the Yukon, approximately 160,000 contiguous acres of land prospective for lithium in Alberta, and 6,660 acres of land in the Stewart Mining Region of British Columbia.
This release has been reviewed by Laurence Stephenson P.Eng. the designated Qualified Person.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the content of this press release.
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