UPDATE 1.55pm: Shares in Renaissance Minerals jumped after the company announced a 1.2 million ounce gold resource at its Okvau deposit in Cambodia.
Emerging from the trading halt this morning, the company revealed an indicated and inferred resource of 15.6 million tonnes at 2.4 grams per tonne gold for 1.2 million ounces from recent drilling.
Managing director Justin Tremain said the company had already increased the resource at Okvau by 65 per cent and the grade by 33 per cent since acquiring the project less than a year ago.
"The project is proving to be a very attractive high-grade project with significant scale," he said.
"The Okvau deposit covers only a small part of the project area and demonstrates the prospectivity of this unexplored region of Cambodia.
"Results achieved to date vindicate our belief that the eastern region of Cambodia will evolve into a major new gold province in an emerging country with a stable democratic Government."
Drilling at Okvau would continue.Renaissance shares closed up 1.5 cents, or 9.38 per cent, at 17.5 cents.
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