SOURCE: Silver Range Resources Ltd.

Silver Range Resources Ltd.

July 05, 2017 08:00 ET

Silver Range Defines High-Grade Drill Targets at Strongbox

VANCOUVER, BC--(Marketwired - July 05, 2017) - Silver Range Resources Ltd. (TSX VENTURE: SNG) ("Silver Range") is pleased to provide results from a geological and geophysical program conducted at the Strongbox Property in Esmeralda County, Nevada. Property highlights include:

  • widespread surface gold mineralization grading up to 27.1 g/t gold; and,
  • geophysical surveys that define large target areas below and along strike of known high-grade mineralization.

The Strongbox Property covers a system of gold veins that straddle Tule Canyon, located 55 kilometres by road south of the town of Goldfield. Despite being the target of several placer and small-scale hard rock mining operations since the mid-1800s, Strongbox has seen little modern exploration, and Silver Range has found no evidence of drilling.

A total of 42 grab and chip samples were collected during the recent program, 16 of which assayed greater than 1 g/t Au and 9 of which assayed greater than 5 g/t Au. The best sample returned 18.7 g/t Au from vein material that was taken from a dump at the main showing west of Tule Canyon.

Gold on the property occurs in north to northeast trending quartz-limonite veins developed in fault zones within Jurassic granite. Near Tule Canyon, strong veins are spaced 10 to 20 m apart within a 100 to 200 m wide kaolinite-illite-smectite-hematite-goethite alteration zone containing local jarosite and calcite. There are workings on both the east and west sides of the canyon. The most prominent bedrock alteration and the highest grade gold samples are found on the west side of Tule Canyon, while extensive narrow underground workings were driven in more competent veins on the east side of the canyon.

Ground total magnetic field and horizontal loop electromagnetic (HLEM) surveys were conducted to investigate the mineralization. The veins and alteration on the west side of Tule Canyon occur along the southern margin of a large west-trending magnetic low.

The HLEM resistivity data delineated features that are directly associated with the surface gold mineralization and which extend along strike of and below known showings. The geophysical survey results delineate bedrock structures and define compelling drill targets. Maps and a video presentation on the Strongbox Property describing the geophysical results and drill targets can be viewed on the property page at www.silverrangeresources.com.

The work program described in this press release was conducted by Aurora Geosciences Ltd. with sampling conducted under the supervision of Roger Hulstein, P.Geo. Technical information in this news release has been approved by Mike Power, M.Sc., P.Geo., CPG, 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 is actively seeking joint venture partners to explore the assets in its portfolio.

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.

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