Silver Range Resources Ltd.

TSX.V:SNG $

Uist

  • Iron-formation-hosted high grade gold
  • Multiple showings over a 1.6 km strike length
  • Historical rock sampling to 156 g/t Au

Summary

The Uist Property is located 440 km NE of Yellowknife, NWT and is accessible by float or ski plane. It was staked and initially explored by Echo Bay Mines Ltd. in 1990 and then jointly explored with Gerle Gold Ltd. until 1994.

The Uist Property is underlain by Archean Beechey Lake Group metasedimentary rocks. This unit hosts mineralization at the Lupin Mine, 156 km to the NW and the George Lake and Goose Lake deposits, 80 km ENE and NE respectively. The Beechey Lake Group is dominantly turbiditic metasediments, some of volcaniclastic affinity. NW striking iron formation occurs within the package and the Uist target is associated with one of these units, visible in the GSC aeromagnetic data.

Sulphide iron formation consisting of pyrite, pyrrhotite and arsenopyrite occurs within altered silicate facies iron formation and is intermittently exposed over a strike length of about 1.6 km. Two notable showings occur along this trend. At Ed's Showing, sulphide iron formation strikes WNW over 475 m and dips 59-70 degrees SW. Of ten samples collected here in 1990, 8 ran over 1 g/t Au with the highest value being 46.66 g/t Au. At Wally's Showing, iron formation strikes WNW over 225 m and is tightly folded with an amplitude of approximately 75-100 m. Sampling on Wally’s showing in 1991 returned peak values of 156.28, 63.22 and 10.01 g/t Au.

Silver Range Resources staked and explored the Uist Property in May and June 2016. Confirmatory sampling returned fire assay analyses to 64.3 g/t Au. Recent mapping and sample results are being compiled with historical data to design future work programs and define drill targets.

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