VANCOUVER, BC--(Marketwired - December 13, 2016) - Silver Range Resources Ltd. (TSX VENTURE: SNG) ("Silver Range") is pleased to announce that it has staked 6 new precious metals projects in Nevada. Four of these targets are high grade prospects which returned surface samples greater than 5 g/t gold or 500 g/t silver.
The Strongbox Property is located in Esmeralda County near the Nevada / California border. The property covers epithermal mineralization in a granitic intrusion. Initial grab sampling returned analyses up to 27.2 g/t Au with 5 of 22 samples returning assays greater than 5 g/t Au. A historic dry-wash operation exploited weathered vein material at surface and narrow veins were mined with open stope methods to a depth of about 100 feet at other sites on the property.
Cold Springs Property
The Cold Springs Property is located in Churchill County near Highway 50. The property covers epithermal mineralization in Tertiary rhyodacite. Initial grab sampling returned analyses up to 20.5 g/t Au and 1770 g/t Ag from samples of mineralized quartz vein material in a 470 m by 160 m area. The property was last explored by Northern Abitibi Mining Corp. in 2006.
Big Gossan Property
The Big Gossan Property is located in Churchill County approximately 55 km NE of Fallon in the Dixie Valley. The property covers a small Tertiary intrusion surrounded by Triassic to Jurassic metaclastic rocks. Mineralization occurs both within and adjacent to the intrusion. Initial grab sampling returned analyses up to 5.96 g/t Au and 1120 g/t Ag from oxidized sulphide breccia.
Legal Tender Property
The Legal Tender Property is located in the Royston Hills in Nye County. The property covers Triassic carbonates and greenstones overlain by Tertiary volcanic rocks. Low to intermediate sulphidation mineralization occurs in veins exposed along a strike length of 1,300 metres. There are numerous prospect pits and shafts in these veins and notable past production from two sites. Initial grab sampling returned analyses up to 1,875 g/t Ag and 3.04 g/t Au from sulphide bearing quartz vein material retrieved from dumps.
The Hunter Property is located in White Pine County and adjoins Eurasian Minerals' Golden Sunrise (French Bullion) Property. The Hunter Property covers Middle to Late Devonian Guilmette Formation and Late Devonian to Mississippian Pilot Shale. Mineralized jasperoid exposed in shaft dumps on this property was sampled by the Nevada Bureau of Mines and Geology and reportedly returned analyses (Atomic Absorption) up to 2.8 ppm Au. Sampling by Silver Range on this property has returned up to 0.67 g/t Au.
The Krug Property is located in the Jungo Mining District in Churchill County. The property covers apparent mesothermal mineralization in Triassic to Jurassic granodiorite intruding Permo-Triassic metasedimentary and metavolcanic rocks. Initial grab samples returned analyses up to 3.54 g/t Au and 340 g/t Ag from mineralized veins. There are numerous shafts, adits and pits on the property and evidence of small scale production from one showing.
These properties were staked as part of a target acquisition program conducted by Silver Range from August through November 2016. Sample results from this program are pending and final results are expected by mid-January. More information on all of the Nevada acquisitions will be made available in the coming months as the company generates target reports.
Work on this project is being managed by Aurora Geosciences Ltd. under the supervision of Gary Vivian M.Sc., P.Geol, CPG. Samples were secured and shipped to ALS Minerals facilities in Reno NV for sample preparation and to North Vancouver for assays and geochemical analyses. Rock samples were analyzed by Ultra-Trace Aqua Regia ICP-MS (ALS code ME-MS41) and fire assayed for gold (30 g sample) (ALS code Au-AA25).
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 building and exploring a portfolio of high grade gold targets in Nunavut, the Northwest Territories and Nevada to fulfil an increasing demand for gold projects in politically stable jurisdictions. The company is actively seeking joint venture partners to explore the assets in its portfolio.
ON BEHALF OF SILVER RANGE RESOURCES LTD.
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.