VANCOUVER, BC–(Marketwired – June 22, 2017) – Silver Range Resources Ltd. (TSX VENTURE: SNG) (“Silver Range”) is pleased to provide an update on work at its South Kitikmeot Gold Project near Sabina Gold & Silver’s Back River Project in Nunavut.
In May, Silver Range completed ground geophysical surveys at the Uist Property. Ground total magnetic field and horizontal loop electromagnetic field (HLEM) surveys were conducted on grids sited over the Billie and Holliday Zones. These zones were identified by Silver Range in 2016, returning high grade surface grab samples up to 64 g/t Au (SNG Press Release – July 28, 2016). The total magnetic field survey mapped the iron formation on the property in detail while the HLEM survey located three conductive zones within the iron formation. These are interpreted to be gold-bearing sulphide facies iron formation embedded within the dominantly silicate facies iron formation found on the property. These conductive targets will be tested by shallow drilling or trenching in a follow-up program.
In early June, Silver Range staked the Qannituq Property adjoining Sabina Gold & Silver’s Llama Deposit. Subsequently, Sabina announced significant drill results from the Llama Deposit, intersecting 8.3 m @ 6.52 g/t Au, 300 m down plunge from limits of the current resource (Sabina Gold & Silver Press Release – June 13, 2017). The Qannituq Property covers 19,590 hectares, abuts Sabina’s core leases, and is underlain by favourable Beechey Lake Group metasediments hosting gold mineralization at the Llama, Umwelt and Goose Deposits. Silver Range is currently compiling geological and geophysical data from assessment reports in the public domain to prepare for work at Qannituq later this season.
With this recent staking, Silver Range’s South Kitikmeot Gold Project now includes seven properties with a total area of 60,030 hectares. These span prospective ground from the Back River Project west to the Lupin Mine. The properties cover iron-formation-hosted gold mineralization in the metasedimentary rocks which host the Goose, Umwelt, Llama and George Lake gold deposits and the Lupin Mine. A video presentation describing the South Kitikmeot Gold Project can be found on Silver Range’s website (www.silverrangeresources.com).
Silver Range’s 2017 exploration plans at the South Kitikmeot Gold Project include mapping and prospecting at Qannituq, ground geophysical surveys at Bling, and community consultations in preparation for drill permit applications.
Silver Range is a precious metals prospect generator working in Nunavut, the Northwest Territories and Nevada. 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.
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.
For further information concerning Silver Range or its exploration projects please contact:
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522