On March 1, 2024, Thesis Gold Inc. announced the amalgamation of Thesis Gold Inc. and its wholly-owned subsidiary, PPM Phoenix Precious Metals Corp. As a result of completing the Amalgamation, the amalgamated Thesis Gold Inc. now directly owns all of the mineral properties comprising the Lawyers Gold-Silver Project.
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Summary:
The Cliff Creek, Dukes Ridge-Phoenix and AGB zones at the Lawyers Area are all considered to be structurally controlled, low-sulphidation type epithermal gold-silver deposits. Low sulphidation epithermal gold-silver deposits form in high-level to near-surface environments and typically consist of quartz veins, stockworks and breccias commonly exhibiting open-space filling textures and are associated with volcanic-related hydrothermal systems. The Ranch Area mineralisation is considered to be high-sulphidation epithermal gold deposits. High sulphidation epithermal deposits occur as veins, vuggy breccias and sulphide-silica replacement pods to massive lenses within volcanic host rocks associated with high level hydrothermal systems marked by acidleached, advanced argillic and silicic alteration.
Evidence for a number of different mineral deposit types occur across the Property, including low- and high-sulphidation epithermal gold-silver mineralisation, calc-alkalic porphyry coppergold mineralisation, and iron or copper (± gold and silver) skarn mineralisation.
Mineralisation
The Lawyers Area zones consist of a combination of quartz veins, stockwork zones and chalcedony breccia bodies developed along northwest and north-northwest trending fracture systems. Low-sulphidation epithermal gold-silver mineralisation consists of predominantly pyrite (2-5%), with minor chalcopyrite, sphalerite, galena, native gold, native silver, electrum and acanthite in a gangue of quartz, chalcedony, jasperodial chert, amethyst, minor calcite and rare barite. Veins commonly display banded and crusti-form textures typical of low-sulphidation epithermal systems; however, brecciation and alteration related to faulting are more common than classic epithermal textures. The three principle mineralised zones are the Amethyst Gold Breccia (AGB) Zone, the Cliff Creek Zone with its many sub-zones, and the Dukes Ridge-Phoenix Zone. Subsidiary zones (or prospects) are Marmot Lake and Silver Pond Zones.
Low sulphidation (adularia-sericite) epithermal type alteration is characterized by core zones of intense silicification ± adularia and bleaching. At higher elevations within the AGB Zone and within Cliff Creek and Dukes Ridge zones, adularia forms narrow, pink boundaries on vein margins, and outbound of veins replaces plagioclase phenocrysts and groundmass silicate minerals, partly obscuring the porphyritic texture of the wall rocks and described as potassic halos. At AGB, the central potassic alteration grades outward to a propylitic assemblage of epidote-carbonate-chlorite-pyrite. At Cliff Creek and Dukes Ridge zones, adularia on vein margins occurs with sericite flanked by kaolinite. The argillic alteration, accompanied by pyrite and chlorite, forms wide envelopes on the veins and grades outward to a propylitic assemblage similar to the AGB Zone.
The drilling and exploration at the Ranch Area defined a stepwise sequence of alteration and mineralisation, where high grade and visible gold mineralisation primarily occurs in vuggy silica altered rock and barite-rich hydrothermal breccias. These highly prospective zones correspond to the lithocap and feeder zone systems that typify global occurrences of high sulphidation epithermal deposits. All significant known gold mineralisation is hosted by silica-sulphate and silica-sulphide bodies flanked by argillically altered zones. These bodies are, in turn, controlled by moderate to steeply dipping fault zones with north-northwesterly, northwesterly, northeasterly, and north-northeasterly orientations. Sulphide content in mineralised zones ranges from 5-20%, with fine grained pyrite common, and blebby copper sulphides (chalcopyrite / bornite / covellite / chalcocite) associated with vuggy silica and hydrothermal breccia zones. Accessory metallic minerals, such as enargite, argentite, and electrum, have also been observed.
Low Sulphidation Epithermal Deposits
The epithermal system(s) present on the Lawyers Area of the Property are structurally related. Most of the significant epithermal style mineralisation occurs associated with a series of deeprooted subvertical north-northwest trending faults with pervasive, variably zoned wall rock alteration. The Lawyers Group Prospects (Cliff Creek, AGB and Duke’s Ridge), also referred to as the Lawyers Area Mineral Resource Zones, generally exhibit low-sulphidation characteristics with intense quartz-adularia-sericite alteration within the mineralised zone and variably contain a narrow argillic zonation halo. Hematite alteration is common within and surrounding the main mineralised zones, with a greater influence in the Duke’s Ridge and AGB Zones.
A prominent clay alteration zone with advanced argillic alteration and local quartz-alunite occurs in the Silver Pond Zone area, which lies northwest of the Lawyers Group Prospects. The presence and distribution of the clay alteration zone at Silver Pond, and high temperature quartzsericite-pyrite assemblages in the deeper zone of Cliff Creek, indicate that these hydrothermal systems could be the expression of a porphyry-epithermal transition zone.
High Sulphidation Epithermal Deposits
Historically, it was suggested that the Silver Pond Prospects on the Lawyers Area of the Property hosted high sulphidation style mineralisation. However, based on current mapping and prospecting by Thesis, no clear evidence of high sulphidation mineralisation has been observed. The mineralisation in the Silver Pond North and Silver Pond West Areas appear to be restricted to narrow translucent and banded grey silica veinlets, not unlike those observed at Cliff Creek. Extensive advanced argillic and high sulphidation-style alteration and gangue minerals occur over Silver Pond, including, alunite, pyrophyllite, vuggy quartz, and bladed barite. This could suggest the potential for a future discovery of high sulphidation mineralisation in this area.
Mineralisation in the Ranch Area is typically composed of a high sulphidation mineral assemblage. The exceptions to this appear to be the Ridge and Bingo Deposits, both of which show lower gold and higher silver concentrations than the other deposits at Ranch Area, indicating they may be located more distal to the main structures that controlled hydrothermal fluid flow and mineralisation.