Rainbow Canyon Property
The Rainbow Canyon Property has an area of approximately 421 hectares (approximately 1040 acres) and is located 40 kilometres east of Reno, Nevada in Washoe County. The Property consists of a contiguous block of 52 non-patented mineral claims, easily accessed by a series of gravel roads from Highway I-80 approximately 1 km south of the Property.The Rainbow Canyon property is underlain by mafic to felsic volcanic rock of Tertiary age. Gold mineralization, known in several areas of the property, has been found in altered mafic volcanics of the Alta Formation. 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 has discovered a number of quartz veins that carry significant gold values. Alteration around the quartz veins suggests a low sulfidation mineralizing event. In a surface prospecting program by a previous owner rock chip samples taken from quartz vein float and outcrops exposed in historic prospecting pits are also reported to have produced assayed significant gold values.
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).
Acrex Ventures has not independently verified the historical work done on or in the area of the property or the historical results. The Company plans to undertake a program of geological mapping, geochemical sampling, geophysical surveying, trenching and sampling to prepare the property for an initial drill program.
Arthur Troup, P.Eng. is the Company's "Qualified Person" with respect to the property.
Property Information
