Silver Range Resources Ltd.

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Itchen

  • Extensive iron formation with numerous gold showings
  • Historical chip sample grading 14.31 g/t over 0.8 m

The Itchen Property is located in the NWT roughly 350 km NNE of Yellowknife and 78 km WSW of the Lupin Mine in Nunavut. The property is accessible by float or ski plane from Yellowknife.

Mineralization at the Itchen Property was discovered in 1963 by Roberts Mining Company following the discovery of gold at Lupin on Contwoyto Lake in 1962. They staked, mapped and sampled prospects in the area before allowing the ground to lapse. Exploration resumed in the 1985 following the development of the Lupin Mine.Echo Bay Mines Ltd. staked the showings at Itchen Lake and conducted geological mapping, sampling, trenching, airborne and ground geophysical surveys and drilled 6 short holes on targets on two of the targets (R76 and R114). Claims in the area were once again allowed to lapse and no further gold exploration was conducted in the immediate area since then.

The Itchen Property area is underlain by metamorphosed Archean turbidites of the Contwoyto Formation.Strata bound iron formation, dominantly silicate facies, is present in this package at several stratigraphic levels.Individual horizons extend for up to 4 km along strike and are up to 20 m thick. Gold mineralization is hosted in sulphide iron formation and associated gold veins, preferentially developed in the hinge zones of steeply-plunging tight to isoclinal folds. The property consists of two claims (1996 hectares) and covers nine Northern Mineral Inventory (NORMIN) showings, summarized below:

NORMIN showing

Sampling

Trenching

Drilling

Description

Rush 3 Island

x



75-100 m of iron formation, 0.3-1.2 m thick.Best grab sample results were 3.53 g/t gold (Au).

R112/R113

x



Chip sample 0.8 m @ 14.31 g/t Au.Best grab sample was 4.18 g/t Au.

R76

x

x

x

Iron formation traced for 500 m, anomalously auriferous for 240 m, 1 to 7 m thick, averaging 2-3 m thick.Best grab samples results were 15 g/t; best trench results were 1.2 m @ 7 g/t Au; best (of 4) drill holes intersected 1.1 m @ 1.1 g/t Au.

R114

x

x

x

Iron formation traced for 300 m, eastern end is auriferous.Surface chip samples ran to 0.4 m @ 12 g/t Au, the best sample trench result was 2.4 m @ 5.8 g/t Au and the best drill intersection (2 holes drilled) was 0.4 m @ 1.7 g/t Au.

MAR No. 3

x

x


Iron formation in two outcrops 80 m apart.Best grab sample results were 14.7 g/t Au and best trench results were 1.5 m @ 6.2 g/t Au.

MAR No. 1

x

x


Low grade trench and grab samples reported (0.20 to 0.69 g/t Au)

R117/R118

x



Silicate iron formation with grab samples to 3.5 g/t Au.

R115

x

x


Silicate iron formation with sulphide quartz veins in local folds.Best grab sample results were 20.06 g/t Au and best trench sample results were 4.82 g/t Au across 0.55 m.

R116

x

x


Silicate iron formation with sulphide quartz veins in local folds.Individual beds 3 to 5 m thick in a 10 to 20 m thick sequence.Best grab sample results were 8.51 g/t Au and best trench sample results were 1.2 m @ 5.16 g/t Au.

Silver Range Resources staked, mapped and sampled the Itchen Property in July 2016.Confirmatory sampling returned fire assay analyses to 6.64 g/t Au. This data will be compiled with historical results to locate areas prospective to host higher grade gold mineralization along the extensive iron formation horizons found on the property.

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