Epithermal mineralization at Paleozoic-Tertiary contact and Carlin-style gold mineralization in Paleozoic carbonates
Under an earn-in agreement with Coeur Exploration Inc., a subsidiary of Coeur Mining Inc.
5 miles northwest of the historic Tybo Mining District within the Hot Creek Range of Nye County, Nevada
The property consists of 177 unpatented lode mining claims administered by the BLM and controlled by Renaissance Exploration
Historic drilling was completed by Battle Mountain Gold Co. and later by Barrick Gold Corp. Drilling was mainly focused on targets related to jasperoid occurrences within the Paleozoic carbonates and along the margins of a porphyritic dike. Mining of the Tybo District, located approximately 5 miles southeast, took place in the 1870s with renewed exploration efforts most recently conducted by Newmont Mining.
The project area consists of a Paleozoic sequence of Devonian dolomites and limestones overlain by Mississippian sandstones and conglomerates. This package is locally folded with evidence of north and east directed thrusting. Two Oligocene volcanic units are juxtaposed against Paleozoic sediments by normal faulting: the Hot Creek Canyon tuff to the west and the Twin Peak tuff to the south. Felsic Tertiary dikes intrude northwest-trending faults.
Extensive silicification of Devonian sediments occurs throughout the property, but is especially highlighted in the jasperoids exposed adjacent to the Hot Creek Canyon tuff, which display multiple episodes of quartz flooding. Several samples within this jasperoid run over 0.5 g/t gold with anomalous silver, arsenic, and antimony. Spectral analysis of igneous rocks displays illitic signatures in dikes, whereas a lower temperature kaolinite signature dominates the volcanics in the north and northwestern portion of the property. Argillized felsic dikes returned 1.2 g/t Au and the Hot Creek Canyon tuff locally contains anomalous gold at surface. Brecciated epithermal-style veining exposed along a northeast trending normal fault yielded 10.4 g/t Au, 705 g/t Ag, and strongly anomalous As and Sb values.
Future work and drilling will target mineralization along the Tertiary-Paleozoic contact adjacent to northeast trending normal faults. Further delineation of Carlin-style targets within thrusted Paleozoic carbonates is also expected in 2018.
Samples for this project were analyzed by ALS Global and Bureau Veritas laboratories, both of Reno, Nevada.