A volcanic-hosted, low-sulfidation epithermal system is partially exposed above and at the top of a boiling horizon, and has never been drilled. The target is disseminated and vein-controlled precious metal mineralization in the boiling zone at shallow to moderate depths.
In earn-in agreement with OceanaGold Corp
The Fat Lizard Project is located in the Quinn Canyon Range, Nye County, Nevada.
Ownership: The property consists of 26 unpatented mining claims administered by the BLM and controlled by Renaissance.
Two very short adits/shafts occur along a zone of outcropping mineralization. The Fat Lizard project has never been drilled and there is no indication of any previous work other than three historic rock chip samples with weakly anomalous Au values.
The Fat Lizard project comprises a gold and silver bearing volcanic-hosted, low-sulfidation epithermal system. The presence of steam-heated alteration suggests a shallow level of exposure above a boiling zone. Mineralization occurs along a 1.2 km long mineralized fault zone and is open to the west. A half graben setting controls mineralization and suggests structural intersections and horsetailing are present at moderate depths. Gold values are widespread within the half graben, ranging up to 0.494 ppm Au in surface rock chips. Spectral measurements have been used to map zones of high-level alteration including silicification, and kaolinite, dickite, and alunite-bearing zones. Limited illite-smectite alteration is present and is associated with anomalous gold and silver. Potential Au-Ag-rich mineralization may occur at relatively shallow depths within a boiling horizon.
Gregory T. Hill. M.S., is a Certified Professional Geologist (CPG# 11030) as defined by the American Institute of Professional Geologists (AIPG), is Principal Geologist of Renaissance Gold, and is the Company's Qualified Person as required by NI 43-101 regulations for the technical information in this report. All drilling reported in this press release is historic in nature and has not been verified by a qualified person.