Renaissance Gold Inc.


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Renaissance Properties


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Status: Available for joint venture

Target: The Fireball Ridge project contains a series of low-sulfidation epithermal gold/silver targets hosted within the bounding structures of a large north-south trending horst block. Shallow drilling has identified multiple small low-grade mineralized zones likely controlled by a series of left-stepping cymoid loops in the Fireball Ridge fault system that were recently recognized and have not been drill tested at depth.

Location: The Fireball Ridge project is located about 72 kilometers (45 miles) ENE of Reno and 16 kilometers (10 miles) NW of Brady's Hot Spring off Interstate Highway 80 north of Fernley in Churchill County, Nevada.

Ownership: The property consists of unpatented mining claims administered by the BLM and owned 100% by Renaissance and about 350 acres (141 hectares) of Renaissance-owned private land.

History: 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.

Geology: 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 in Churchill County, Nevada (Fig. 1). 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 drill-hole 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.

Figure 1. Southwest looking oblique aerial view of the Fireball Ridge fault system. The fault system is outlined in blue showing three left-stepping sigmoid loops within the structural zone, two of which spatially correlate with zones of known shallow gold mineralization.

Previous explorers were aware of the volcanic-hosted epithermal character of mineralization, but most efforts were focused on near-surface resources and the structural model had not been fully developed. Recent geologic modeling has defined multiple cymoid loops within the Fireball Ridge fault zone which appear to control the shallow zones of mineralization (Fig. 2). Very few holes were drilled to depths greater than the 183 meters (600 feet) necessary to test for a deeper boiling horizon, and the few holes that were drilled to that depth appear to have missed their target because hole placement did not account for the expected changes in strike and dip of cymoid loop structures at depth (Fig. 3). Similar geometries occur at Midas and Fire Creek where low to moderate-grade vein and disseminated resources occur at shallow levels above the main high-grade productive veins that commonly average 1.0 ounce per ton and more.

Figure 2. Expanded view of the near-surface Au mineralized zone shown in figure 1 with gold values posted on drill hole spines and section line 4,415,250 labeled in yellow.

Figure 3. Cross-section 4,415,250 showing the untested structural zone for high-grade gold mineralization below a drilled zone of shallow low-grade gold mineralization.