Silver Range Resources Ltd. is pleased to provide an update on exploration projects underway on its properties in Nunavut.
South Kitikmeot Gold Project
Silver Range's South Kitikmeot Gold Project (SKGP) is located between Sabina Gold & Silver's Back River Project and the Lupin Mine. It includes seven properties with a total area of 60,030 hectares covering iron-formation-hosted gold mineralization in the metasedimentary rocks which host the Goose, Umwelt, Llama and George Lake gold deposits and the Lupin Mine. Summer exploration at the SKGP will be conducted on the Qannituq and Bling Properties. In August, prospecting and geological mapping guided by a compilation of available geophysical, geological and hyperspectral data will be completed on the Qannituq Property adjoining Sabina's Llama Deposit. Further west, horizontal loop electromagnetic field (HLEM) and total magnetic field (TMF) surveys will be completed on the Bling Property to map the extent of a gold-bearing arsenopyrite-rich sulphide horizon. Historical grab samples along the 700 metre long horizon have reported values up to 47.1 g/t Au and results from limited trenching include 2.0 m @ 16 g/t Au.
Hard Cash Property
Silver Range's Hard Cash Property is located on Ennadai Lake in southwestern Nunavut at the western end of the Ennadai-Rankin Greenstone Belt, host to Agnico Eagle's Meliadine deposit. Work by Silver Range in 2016 defined a 1400 m zone of high grade gold mineralization in float and bedrock defined by numerous samples in excess of 10 g/t Au. (Silver Range Press Release - October 11, 2016). HLEM and TMF surveys are underway at Hard Cash and these will be followed by a three-week shallow diamond drilling program commencing at the end of July.
Silver Range's Yandle Property is located east of Henik Lake, approximately 155 km west of the hamlet of Arviat. The principal target on the property is a zone of widespread gold mineralization in float, 4.5 kilometres long and up to 100 metres wide enclosed in an extensive alteration zone. This "Yandle Trend" was originally staked in two segments by Comaplex Minerals and Cumberland Resources in the 1990's. Reported historical grab samples include 25 g/t Au in the eastern portion and 59 g/t Au in the western portion. Approximately 15 drill holes have been completed in the eastern portion of the gold trend with Comaplex reporting 3 m @ 11 g/t Au and Placer Dome subsequently reporting 1.25 m @ 17.5 g/t Au and 2.8 m @ 2.5 g/t Au from 2 separate holes in the same area (Silver Range Press Release - March 20, 2017). Having consolidated the Yandle Trend in a single property, Silver Range will conduct HLEM and TMF surveys followed by prospecting and mapping along the full strike of the zone.
Silver Range is a precious metals prospect generator working in Nunavut, Nevada and the Northwest Territories. The company is actively seeking joint venture partners to explore the assets in its portfolio.
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.