VANCOUVER, June 29, 2018 /CNW/ - Silver Range Resources
Ltd. (TSX-V: SNG) ("Silver Range") announces it has completed a
spring reconnaissance program in Nevada and staked three new high grade gold
targets.
Robot
The Robot Property is 22 kilometres south of Yerington in Lyon
County. The claim block covers gold occurrences in
Jurassic-Cretaceous granodiorite along a mile-long trend in the
footwall of a prominent north-striking range front fault.
Gold mineralization is hosted in sympathetic, antithetic and
cross-cutting veins and shears. At the North Showing, best
grab sample results from an initial examination by Silver Range in
May were 54.3 g/t Au and 20.0 g/t Au from separate
veins. At the South Showing, best grab sample results from the same
program were 5.86 g/t Au. Six of 21 grab samples collected
during the initial examination returned analyses greater than 1 g/t
Au. Silver Range found no evidence of modern exploration suggesting
this target may have been overlooked. Reconnaissance stream
sediment sample results suggest that additional mineralization may
be present between the two showings. Silver Range intends to
conduct additional prospecting and sampling to follow-up on the
stream sediment sampling results.
Bottom Dollar
The Bottom Dollar Property is 102 kilometres northwest of
Winnemucca in Humboldt County. The property is underlain by
Jurassic-Triassic limestone and Happy Creek volcanics intruded by
Cretaceous(?) granodiorite. Gold mineralization is dominantly vein
hosted with subordinate skarn developed in carbonate rocks. Nevada
Bureau of Mines and Geology sampling reported assays of 28 g/t Au
and 23 g/t Au from selected specimens collected on the property.
Initial sampling by Silver Range in May
2018 returned a best grab sample assay of 15.95 g/t
Au with 181 g/t Ag and 1.1% Cu from a set of 24 samples,
5 of which returned gold analyses greater than 1 g/t Au. Anomalous
orientation soil sample results up to 132 ppb Au were returned from
an area of past trenching but higher responses up to 554 ppb Au
were recorded well outside of this zone. Additional
prospecting, soil sampling and ground geophysics followed by
trenching are required to further assess the property's
potential.
Posh
The Posh Property is located in Mineral County, 20 km south of Hawthorne in the Wassuk Range. The
property is underlain by Cretaceous granite and granodiorite cut by
west-northwest trending shears and veins. The Main Showing on the
property consists of gold and silver bearing quartz in a 1.5 metre
wide, steeply north-dipping shear zone. The shear zone is exposed
in trenches, an adit and a road cut over a distance of
approximately 120 m. Initial grab
sampling in April returned grab samples assaying up to 4.82 g/t
Au and 101 g/t Ag with 4 of 8 samples collected
returning analyses greater than 1 g/t Au. This confirmed similar
results reported by the Nevada Bureau of Mines and Geology which
report a historic grab sample assay of 5.30 ppm Au and 120 ppm Ag
from dump material.
In addition to work on these projects, a series of other
prospects were screened and regional work continued on a developing
target. Further work in Nevada is
planned in the fall, following completion of summer exploration
work on projects in the NWT and Nunavut.
Samples were secured and transported by the field crew to ALS
Minerals facilities in Reno,
Nevada for sample preparation. Pulps were shipped to
North Vancouver for assaying and
geochemical analyses. Rock samples were analyzed by Ultra-Trace
Aqua Regia ICP-MS (ME-MS41) and fire assayed for gold (30 g sample)
(Au-AA25). Samples that exceeded the detection limits of the
routine methods were assayed for silver and copper by inductively
coupled plasma-atomic emission spectroscopy (Ag/Cu-OG46) and for
gold by gravimetric analysis (Au-GRA21). Soil samples were
analyzed by ICP-MS (ME-MS41L).
Technical information in this news release has been approved by
Mike Power, M.Sc., P.Geo., President
and CEO of Silver Range Resources Ltd. and a Qualified Person for
the purposes of National Instrument 43-101.
Silver Range is a precious metals prospect generator working in
Nevada, Nunavut and the Northwest Territories. The company has
assembled a portfolio of 40 properties, 12 of which are currently
optioned and being explored by partners. Silver Range is actively
seeking joint venture partners to explore the high grade precious
metal targets in its portfolio.
Additional information on Silver Range's properties may be found
on the company's new website at
www.silverrangeresources.com.
ON BEHALF OF SILVER RANGE RESOURCES LTD.
"Mike Power"
President, C.E.O. & Director
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release may contain forward looking statements
based on assumptions and judgments of management regarding future
events or results that may prove to be inaccurate as a result of
exploration and other risk factors beyond its control, and actual
results may differ materially from the expected results.
SOURCE Silver Range Resources Ltd.
