Silver Range Resources Ltd.

TSX.V:SNG $

Strongbox

Summary

  • Widespread surface gold mineralization 
  • Past production (hard rock and placer)
  • Geophysics defines large targets below and along strike of known showings

The Strongbox Property is located in Tule Canyon, 55 km southwest of the town of Goldfield in Esmeralda County, Nevada. The property consists of 22 Federal Lode Claims centred on Tule Canyon and covering mineralization on the east and west sides of the canyon. Video presentation available here.

The Strongbox Property is located in the Walker Lane in an area underlain by granodiorite of the Sylvania Pluton and cut by Miocene to recent NW striking strike-slip faults and N to NE trending extensional faults. The area is distal from known Tertiary volcanic centres and has not been extensively explored in modern times.

Placer mining in Tule Canyon dates from 1848 when Mexican placer miners first began work in the area and has continued until recent times. Numerous bedrock occurrences in the walls of the canyon along the length of the creek were mined on a small scale although no hard rock production is documented in the immediate property area. On the west side of Tule Canyon (West Zone), a miner named “Honest Tom” Jaggers reportedly mined his “Dark Secret Mine” from the 1890’s until perhaps the 1930’s. A recent, undocumented and more extensive underground mining operation ran on the east side of Tule Canyon (East Zone) following a strong vein which was mined over a length of about 130 m to a depth of about 100 feet. A dry wash placer operation of perhaps the same vintage mined altered bedrock near the site of the Dark Secret Mine.

Mineralization on the Strongbox Property consists of medium crystalline quartz veins in centimetre- to metre-wide shears carrying pyrite, chalcopyrite and black sooty sulphides. Major shears are spaced in the order of 10 to 20 metres apart on the west side of Tule Canyon and occur within a 400 m by 200 m wide clay alteration zone with hematite, limonite, kaolinite, illite and smectite. Selected surface grab sampling, float and chip sampling in 2016 and 2017 returned assays up to 27.1 g/t Au with 14 of 64 samples returning assays greater than 5 g/t Au. In addition to the gold found in the Tule Canyon area, there are areas both east and west of the main showings from which high-grade bedrock gold samples have been recovered.

Silver Range conducted ground total magnetic field (TMF) and horizontal loop electromagnetic (HLEM) surveys at Strongbox in 2017. The surveys identified two prominent through going resistive zones interpreted to be faults. A low frequency resistive zone was also located beneath the Dark Secret Mine and a strong 14 KHz resistive zone is nearly coincident with the East Zone. The mineralization in both the East and West Zones occurs in a magnetic low, an embayment in a larger east-west feature transecting the western portion of the property. This magnetic low may be caused by magnetite destruction as the low is coincident with the large clay alteration zone containing the mineralized shears in the West Zone. The two resistors beneath the gold mineralization in both the West and East Zones may be zones of silicification in shear zones at depth and are very prospective drill targets. Silver Range has been unable to find any evidence of drilling on the property.

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