Rencore Resources Ltd.

Rencore Resources Ltd.

October 07, 2010 09:00 ET

Rencore Acquires Claims in the Ring of Fire

TORONTO, ONTARIO--(Marketwire - Oct. 7, 2010) - Rencore Resources Ltd. ("Rencore" or the "Company") is pleased to announce the acquisition of a 100% interest in 18 mineral claims comprising 245 claim units for a total area of approximately 3,920 hectares or 9,721 acres. Located approximately 530 km north- northwest of Thunder Bay, the claim group is situated on the southwest limb of the area dubbed the Ring of Fire after a series of mineral discoveries commencing in August of 2007. Those mineral deposits are composed of nickel, copper, platinum, palladium, gold, silver, chrome, iron and vanadium.

The claims were staked to cover several aeromagnetic anomalies of interest identified by Rencore management. Rencore management were a major part of the discovery team of the Noront Resources Ltd., Eagle One high grade nickel, copper, platinum, palladium, gold and silver discovery as well as the Eagle Two nickel, Blackbird chromite deposits and the Thunderbird Iron/ Vanadium showing.

This is Rencore's first project in the Ring of Fire. Named REN 5, this claim group will be the subject of an airborne electromagnetic and magnetic survey. It is planned to carry out this survey within the next two months. Any electromagnetic anomalies with a favourable coincident magnetic signature will become potential prime drilling targets for the Company.

The REN 5 property was acquired for staking costs and is subject to a 1% net smelter returns royalty which may be purchased for $500,000 at any time prior to commercial production.

The technical information in this press release was reviewed and approved by John Harvey, P. Eng. Chief Operating Officer for Rencore and a qualified person (QP) for the purposes of NI 43-101.


R. Nemis, President and Chief Executive Officer

Contact Information

  • Rencore Resources Ltd.
    Richard Nemis
    President and Chief Executive Officer