Low sulfidation epithermal gold mineralization
Located in Nevada
High-grade outcropping rift related low sulfidation epithermal gold mineralization with newly defined and untested structural model for bonanza-grade shoots at depth.
The Fireball Ridge project is located about 72 kilometers (45 miles) ENE of Reno in Churchill County, Nevada.
The Fireball Ridge project has been explored by several companies over the past 30 years. Prior to this, exploration and limited mining were conducted on the property sometime after 1900. These efforts are evidenced by historic mine workings consisting of small shafts and adits. Renaissance Gold has obtained and compiled much of this historic data along with results generated by its former joint venture partners. Work completed by prior explorers on the property includes geological mapping, surface geochemical sampling, geophysics and the completion of approximately 100 conventional and reverse circulation drill holes. Numerous holes contain intercepts grading greater than 0.342 grams/tonne (0.010 ounces per ton) gold.
The Fireball Ridge property contains anomalous low sulfidation, epithermal style gold-silver mineralization hosted by an east-dipping fault-fissure-vein zone at least 6 kilometers (3.7 miles) long that follows the eastern margin of Fireball Ridge. Gold mineralization identified to-date includes a small, low-grade mineralized zone tested by approximately 24 drill holes in the northern part of the property and a higher grade drillhole intercept of 9 meters (30 feet) of 11.9 grams/tonne (0.348 ounces per ton) gold in the southern part. The presence of mineralized basalt in the hangingwall of the fault-vein system identifies this prospect as mid to late Miocene in age, placing it in a class with high grade epithermal vein systems in Northern Nevada that include Midas, Fire Creek, Sleeper, and Ivanhoe. Vein silica textures are dominated by fine-grained, jasperoid-like chalcedony, suggesting that only the uppermost levels of the vein system have been explored.