Jun 21 2017
Silver Range Resources Ltd. is pleased to provide results of a sampling and geologic mapping program conducted at the Stinson Property, north of Ely Nevada.
Work in April at the Ben Hur Mine defined the surface trace of shear-zone-hosted vein mineralization over a strike length of 100 m. Confirmatory sampling was conducted in the area which yielded a 50.1 g/t Au float grab sample during the initial property examination in September 2016 ( Press Release dated November 7, 2016 ). A selected float grab sample of similar material returned 248 g/t Au and a chip sample across exposed hematite stained sheared quartzite returned 1.5 m @ 20.6 g/t Au. Grab samples from dump material at workings along the vein 50 metres southwest and northeast of this location returned 5.97 g/t Auand 5.15 g/t Au respectively. The vein is hosted in a north-striking, moderately east-dipping shear zone cutting Cambrian quartzite and is exposed underground in a cross-cut 40 metres east and down-dip of the surface exposures. Chip sampling of the partially exposed vein here returned 0.4 m @ 3.58 g/t Au. The crew was unable to sample mineralization in the production stopes because of poor ground conditions. A plan map and cross section showing sample locations and results can be found at www.silverrangeresources.com .
Additional claims were staked to cover open ground between the Ben Hur Mine and the Stinson Mine to the north. At the Stinson Mine, similar style mineralization occurs in Silurian to Ordovican dolomite. A chip sample collected at the Stinson Mine during initial examination in 2016 returned 3.8 m @ 2.57 g/t Au including 0.7 m @ 8.16 g/t Au ( ibid. ).
Mineralization at the Stinson and Ben Hur Mines may be related to hydrothermal activity associated with the intrusion of the Steptoe Warm Springs Pluton approximately 3 kilometres north of the property. Silver Range believes that shallow drilling could locate similar mineralization along parallel structures.
The sampling program described in this press release was conducted by Aurora Geosciences Ltd. under the supervision of Roger Hulstein, P.Geo. A total of 13 grab and chip samples were collected, 5 of which returned analyses greater than 5 g/t Au. Samples were secured and shipped in custody to ALS Minerals facilities in Reno NV for sample preparation and pulps were shipped to North Vancouver for assay. 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 also announces that it has granted incentive stock options under its Incentive Stock Option Plan to its directors, officers, consultants and employees, entitling these individuals to purchase up to an aggregate 2,580,000 Silver Range shares at a price of $0.25 per share for a period of five years. All of these options are subject to vesting provisions under which 25% of the options will vest at the conclusion of each three months during the first year of the exercise period.
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.