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Acrex Plans Drill Program for its Rainbow Canyon Property, Nevada
(via Thenewswire.ca) Acrex Ventures Ltd. (Acrex) is pleased to announce that President Malcol...
About this update from Avventura Resources Ltd.
[{"type":"text","content":"\nAcrex Plans Drill Program for its Rainbow Canyon Property, Nevada\n\n(via Thenewswire.ca)\n\n \nAcrex Ventures Ltd. (Acrex) is pleased to announce that President Malcolm Powell, along with Director and geologist Art Troup and geologist Jon Gant recently completed a visit at Acrex's Rainbow Canyon property in Reno, Nevada. Areas of interest with historical showings were reviewed and surveyed to identify potential drill targets for an upcoming exploration program. Permit applications are currently being prepared for submission and Acrex is obtaining quotes from a number of drill contractors.\n\n\n \nThe Rainbow Canyon property is underlain by mafic to felsic volcanic rock of Tertiary age. Gold mineralization, known to exist in several areas of the property, has been found in altered mafic volcanics of the Alta Formation.\n\n\n \nThe gold mineralization is associated with narrow steeply dipping quartz veins that are enveloped by 1 to 10 metre wide zones of bleaching and iron staining, within a more extensive area of argillic alteration. Previous exploration work on the property discovered a number of quartz veins that carry significant gold values. Alteration around the quartz veins suggests a low sulfidation mineralizing event.\n\n\n \nIn April 2011, Acrex completed a rock sampling program where were samples taken of quartz vein, quartz veinlet and altered wallrock material that occurs in prospect pits, rock dumps, trenches and some outcrops on the claims. Results show that, of the 30 sites sampled, 20 of the 30 Acrex samples have 0.50 g/t gold and 14 samples had 1.0 ppm Au with a maximum, in one sample, of 48.2 g/t gold.\n\n\n \nThe Rainbow Canyon property is located within a mining friendly jurisdiction. The Rainbow Canyon gold mineralization is thought to be similar in age and host rock type to the nearby Comstock Mine. The property is situated within the Walker Lane structural belt which is host to several major gold and silver deposits with historical production records, including the bonanza gold vein deposits of the Comstock Mine (7.65 Moz. gold and 177.0 Moz. silver), as well as large bulk-mineable gold-silver deposits such as the Rawhide Mine (1.5Moz. gold), and Paradise Peak (1.6 Moz. gold and 22.0 Moz. silver).\n\n\n \nMr. J. Allan McNutt, P.Geo. is the Company's Qualified Person for the purpose of National Instrument...