The important deposit types are virtually overshadowed by paleoplacers, predominantly from the Witwatersrand in South Africa. These unique deposits are diminishing rapidly in global importance so are not a deposit type to consider within a discussion of Great Basin gold occurrences.
Globally, the Copper - Gold Porphyry deposit types are very large producers. Examples in the Great Basin include the Robinson and Yerington mines. The most significant deposit in the Great Basin is Bingham Canyon located in central Utah on the eastern edge of the Great Basin. This mine produces about 275,000 tons of refined Cu, 400,000 oz Au, 4 million oz Ag, and 25 million pounds of Mo each year. Historically production is over 18 million tons of Cu and 26 million oz of Au.
The Great Basin has been dominated by Carlin type gold deposits and Epithermal gold deposits. Carlin types are the major producer in Nevada and are becoming increasingly important worldwide. These deposits can transition up to the near surface epithermal environment producing deposits which are becoming more abundant on a global scale. Epithermal deposits tend to be much smaller, but there are notable exceptions such as the 20 million oz Round Mountain Mine in central Nevada. Volcanic-hosted epithermal deposits are often high-grade, profitable mines. Renaissance's Bunce, Sinter and Fireball properties are examples of this type of deposit.
Skarns can be linked to intrusion-related deposits as they occur proximal to intrusions in Nevada and simply represent the interaction of hydrothermal fluids with limestone creating a specific type of mineralogy. The Golden Shears Project, located in southern Nevada, is a good example of the relationship with exposed porphyries and skarn mineralization.
Both skarns and intrusion-related deposits are found in Nevada. Recently a new classification, reduced-intrusion gold, originally defined in Alaska, is now being recognized globally including in the Great Basin. The large Bald Mountain Mine was for years classified as Carlin type, but is now being shown to host a reduced intrusion system. Renaissance is pursuing these types of deposits, as they have been underexplored in Nevada and provide an opportunity for great success. Buffalo Canyon-Everson Deposit in Nye County, Nevada is the best example of this in our current portfolio.
The largest global gold endowment in the world occurs in Orogenic deposit types. These are formed simply by the sweating of gold from rocks squeezed during the process of mountain building (orogeny). Little exploration in Nevada has been focused on these deposits, but there are examples of very large historic mines. Again, Renaissance has been pursuing these less explored deposits within select areas of Nevada.
VMS, IOCG, PGE-related and Paleoplacer deposit types either do not occur or are insignificant in their occurrence in the Great Basin.
More detailed descriptions of each deposit type are found under their specific headings.
Target: Carlin-type gold mineralization in a classical Carlin-type setting hosted in Roberts Mountains Formation exposed through an upper plate window with a Mesozoic stock at the center of the district.
Status: Available for Joint Venture
Location: The Raven Project is located in the Rabbit Carlin Trend in Nevada near the town of Austin, Nevada
Ownership: The property consists of 169 unpatented mining claims administered by the BLM and controlled by Renaissance.
History: The Raven project area has been explored since 1968 by at least ten companies. Lyle Campbell was the original modern claim locator (1968). Since then at least nine companies have completed work on the property: Humble Oil and Refining (1969-1970), Earth Resources (1978-1979), Houston Oil (1980), USMX (1980), Energy Reserves (1980), Cyprus (1986-1988, Digger Resources (1994-1998), Kennecott (2000-2001), Nevada Gold Holdings (2009-2010). Approximately 157 drill holes have been completed in the district. Not all of these are on ground controlled by Renaissance Gold. Within our land position, the highest density of drilling is in the South Zone (36 holes), an area of gold mineralization occurring in upper plate siliciclastic rocks with grades up to 9.977 g/t Au. Previous drilling is historic in nature and has not been verified by Renaissance Gold's qualified person (QP).
Geology: The Raven project comprises one of the few remaining classical Carlin-type settings in Nevada where the discovery of a major deposit has yet to occur. The Roberts Mountains Formation and underlying eastern assemblage Ordovician carbonates are exposed through a window through upper plate Ordovician siliciclastic rocks of the Valmy formation. An undated intermediate phaneritic to porphyritic intrusive suite is present at the center of the district and is thought to be Mesozoic in age, potentially occupying deep-seated and long lived, inverted Proterozoic rift structures.
Skarn mineralization associated with the intrusion lies off Renaissance ground, and is enriched in Cu and Au. Marble and calc-silicate hornfels halo the intrusion. Most of Renaissance ground is characterized by widespread decalcification extending beyond the marble and calc-silicate halo, where there is the highest potential for Carlin-type deposits. The northern part of the property is characterized by numerous small windows exposing altered lower plate carbonates through a thin skin of upper plate rocks. Upper plate rocks are thicker in the southern portion of the property, concealing lower plate targets beneath approximately 1500 feet or more of upper plate and volcanic cover.
Gold is widespread throughout the north and south portions of the property and is most concentrated in the South Zone, an east-west zone of mineralization in the upper plate with grades up to 9.977 g/t Au. Deformed and faulted lower plate rocks beneath this upper plate anomaly comprise the primary target in the south portion of the property.
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.
Status: In earn-in agreement with Hochschild Mining plc.
Location: Ferguson Mountain is located approximately 8 kilometers (25 miles) south of West Wendover in Elko County, Nevada.
Ownership: The property consists of 24 unpatented lode mining claims administered by the BLM and controlled by Kinetic Gold (US) Inc., a wholly owned subsidiary of Renaissance.
History: The Ferguson Mountain project occurs within the historic Ferguson Springs (Allegheny) district where copper-silver deposits were discovered in the late 1880s. Sporadic, minor production of copper, silver and lead with minor gold were reported from the district between 1917 and 1953. Historic prospects exist on the property and are characterized by copper oxides occurring in siliceous gossans along structures and intrusive and stratigraphic contacts. No modern exploration for gold is known in this area.
Geology: The Ferguson Mountain project is underlain by Devonian carbonates which are overlain by Mississippian to Permian foreland basin clastic and carbonate rocks. The entire sequence is folded and tilted and complexly faulted. At least one and possibly two generations of intrusive activity are present on the property, characterized by intermediate stocks and (possibly later) silicic dikes. Extensive solution/collapse breccia with strong hematite (terra rosa) occurs at and near the top of the Devonian carbonate section. Kinetic Gold sampling and mapping on the property has revealed a Au-As alteration assemblage that appears to postdate the copper mineralization. This defines a new stand-alone gold target, where outcropping gold-bearing alteration along mapped structures would intersect the favorable, iron rich karst zones at the top of the Devonian section. The target is characterized at surface by gold "leakage" along NE structures with gold up to 0.44 g/t, and associated anomalous Ag, As, and Sb. This represents the subtle expression of a buried, nearly blind Carlin-type gold target in a historic base metal district which has never been explored for gold, and has never been drilled.
Samples from this project were analyzed by American Assay Laboratories, Sparks Nevada.
Robert Felder. M.S., is a Certified Professional Geologist (CPG# 11012) as defined by the American Institute of Professional Geologists (AIPG), and is the President and CEO of Renaissance Gold, and is the Company's Qualified Person as required by NI 43-101 regulations for the technical information in this report.