Recently, Silver Range Resources Ltd. provided an update on the developments at its Up Town Gold Project. A $30,000 payment has been made by Rover Metals Corp. in compliance with a September 9, 2016 property agreement and has informed Silver Range that it plans to begin drilling this spring.
Silver Range is in the process of completing community consultations with affected First Nations and plans to present an application for a Land Use Permit in early March, subject to finishing the consultations.
The Up Town Gold Project is an Archean lode-gold prospect adjacent to the 8.1 million ounce Giant Mine gold deposit in Yellowknife, Northwest Territories. There are ten high-grade gold occurrences in the 3,227 hectare property. Prospecting, lithogeochemical surveys, and geophysical surveys across the property have revealed two structural corridors having vein-hosted mineralization and a third containing shear zone hosted gold mineralization (Fox South Shear Zone).
The Rod Vein, which is the most advanced showing, was drilled to a shallow depth in the 1960’s and mined on a small scale in 1979 by former owners. In 2015, sampling in the open pit at the Rod Vein by Panarc Resources brought up channel sampling results up to 1.20 m @ 17.27 g/t Au and grab samples assaying up to 318 g/t Au. In 2013, Manson Creek Resources Ltd. drill tested the Rod Vein north of the 1979 production pit with excellent results of 2.22 m @ 27.47 g/t Au.
The Fox South Shear Zone located 1,100 m west of the Brock Shaft at the Giant Mine comprises of a reverse shear zone 10 to 70 m wide spanning over a strike length of 400 m. In 2012, grab samples gathered from this zone by Manson Creek assayed up to 30.3 g/t Au and channel samples assayed up to 1.1 m @ 2.20 g/t Au. Also, Manson Creek drilled two shallow holes into the zone, and the best assays were 4.14 m @ 2.62 g/t Au and 2.13 m @ 4.67 g/t Au.
Rover Metals is a junior gold exploration company that aims to develop exploration assets in the Northwest Territories.
Silver Range is building and exploring a portfolio of high grade gold targets in Nunavut, Nevada, and the Northwest Territories to fulfill a growing demand for gold projects in politically stable regions. Silver Range is actively seeking partners who are keen to explore these opportunities.