The company said it will retain a 1% net smelter return royalty on the project, having entered into an agreement with AngloGold in 2017 which provided the option to acquire a 100% interest in the project by paying Renaissance US$3 million by June 21, 2020.
In a statement, Renaissance Gold president and chief executive Robert Felder said: "We plan to put the money to work immediately in support of our generative exploration program, to identify and acquire strong targets."
"This also marks a significant development for the Company in the successful organic generation of a Nevada royalty which represents meaningful value at negligible cost to the company,” he added.
Renaissance Gold is a western US-focused prospect generator using a joint venture business model.
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