Available for Joint Venture
The Gilbert South property is located 42 km west of Tonopah. Property access is good with 5 miles of county maintained dirt roads from US Highway 6/95. A well developed network of roads covers most of the property.
The property consists of 84 unpatented mining claims administered by the BLM and controlled by Renaissance. The property was acquired from Timberline Resources in 2015 and is subject to a 3% NSR with a 1% buydown option for $1.5 million.
The Gilbert South property lies within the Gilbert District which was first discovered in the 1800's. The district contains two types of mineralization; silver-lead ores hosted in limestones peripheral to Mesozoic quartz monzonite intrusions, and epithermal gold +/- silver associated with Tertiary volcanics (Albers and Stewart, 1972). Multiple small shafts and adits on the Gilbert South property are developed along free-gold bearing epithermal quartz veins and vein stockworks.
Modern exploration on the property has focused on near surface bulk tonnage gold targets. Drill programs include 47 holes by Atlas Precious Metals that average less than 300 feet, 17 holes drilled by Pathfinder that averaged less than 500 feet, and 13 holes drilled by Platte River which also averaged less than 500 feet. Three >1000 foot drill holes by are the only deep tests on the property and all three are located close together in the Atlas Core Area.
The majority of the drilling has intercepted strongly anomalous gold in many different target areas indicating a large gold bearing system. Very little exploration has focused on identifying zoning within the gold bearing system and testing for feeder structures at depths greater than 400 feet.
The Gilbert South property lies within the Walker Lane Epithermal belt. The property is part of an evolving epithermal district in the Monte Cristo Range which includes Hecla's McLean Lode and Columbus Gold's East Side Project. The Renaissance property controls a basement high of Ordovican Palmetto argillites draped by Tertiary rhyolite tuffs of the Castle Mountain Rhyolite and andesite flows, tuffs and tuffaceous sediments of the Gilbert Andesite.
Geologic mapping by Renaissance Gold has identified a sequence of andesite and dacite domes which control epithermal vein mineralization. Clay mineralogy maps paired with vein texture mapping are used to reconstruct the geologic domains on the property. Multiple target zones are identified where shallow level quartz veins with anomalous Hg outcrop on the margin of dome complexes. The root zones and pressure shadows of these domes are the primary target for the next round of exploration drilling.
Albers, J.P., and Stewart, J.H., 1972, Geology and Mineral Deposits of Esmeralda County, Nevada: Nevada Bureau of Mines and Geology Bulletin 78. p. 67
Atlas Core Area: Outcropping gold bearing bladed quartz after calcite breccias in the portion of the property which has had the most extensive drilling.
South Rhyolite Area: 10 m wide zone of quartz and carbonate veining in rhyolite tuffs.