Silver Range Resources Ltd.

TSX.V:SNG $

Sparta

  • Multiple gold rich quartz veins
  • High grade historical resource open for expansion

The Sparta Property is located 81 km NE of Yellowknife. The property is readily accessible by fixed wing aircraft on floats or skis from Yellowknife and is 16 km from the Tibbet Lake to Contwoyto Winter Road at Gordon Lake.

The Sparta vein and associated showings are hosted in Archean Burwash Formation fine to medium-grained quartz-mica schist (metamorphosed turbidites) near the contact with late Archean granites. There are a number of small high grade saddle reef style deposits in this formation throughout the Yellowknife area which were mined between 1934 and 1997, including the Burwash, Treasure Island, Bullmoose and Ptarmigan Mines.

The principal showings on the property are the Sparta North and South veins and the Gab Vein. The Sparta veins occur in the nose of a tight, slightly asymmetric, northwest trending fold while the Gab Showing consists of quartz veins developed in a shear zone cutting the metasediments. The veins consist of grey to white medium-grained quartz with disseminated pyrite, galena, sphalerite, pyrrhotite and chalcopyrite.

The Sparta South vein was traced for 760 feet on strike and 130 feet down dip in a series of shallow holes. Historical drilling on this vein intersected up to 1.21 ounces per ton (OPT) over 3 feet. The Gab Showing is hosted in a shear zone marked by a surface depression 1,500 feet long and from 10 to 25 feet wide. The Gab showing is a quartz vein 12 to 30 inches wide exposed in outcrop at three locations over a strike length of 90 feet. Treminco drilled a historical (non-National Instrument 43-101 compliant) resource of 30,000 tons averaging 0.31 OPT Au over a 250 foot strike length on this vein to a depth of 75 feet, intersecting vein material averaging 0.58 OPT Au (uncut) and 0.44 OPT (cut) across widths up to 48 inches.

There are several other satellite showings. Tinker is 150 m NW of the Sparta North vein and may be an extension of the same feature. Quartz veins developed here in mafic metasediments returned assays to 0.636 OPT Au (21.81 g/t Au). At the southern limit of the property, the Mac Lake 2 and 3 Showings host quartz veins in metasediments which returned grab samples to 0.256 OPT Au (8.78 g/t Au).

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