Silver Range Resources Files Mel Property Report
December 2, 2014 - Silver Range Resources Ltd. (TSX-V:SNG) (“Silver Range”) announces that further to its November 12, 2014 news release, it has completed and filed the National Instrument 43-101 report entitled, “Technical Report on the Mel Zinc-Lead-Barite Property, Watson Lake Mining District, Southeast Yukon” (the “Mel Report”). The Mel Report can be viewed under the Silver Range profile at www.sedar.com or on the Silver Range website.
The Mel Report was prepared by Gary Giroux, P. Eng., M.A.Sc. (Giroux Consultants Ltd.) and Leo King, P. Geo., both of whom are independent qualified persons as defined in National Instrument 43-101.
The Mel Property lies 80 km east of Watson Lake and 40 km north of the Alaska Highway. The Mel Report contains a resource estimate for the Mel Main Zone which hosts an inferred resource of 5.38 million tonnes grading 6.45% zinc, 1.85% lead and 44.79% barite (BaSO4), at a cut-off grade of 5.0% zinc-equivalent. The zinc-equivalent was calculated using metal prices of US$0.89/lb. zinc and US$0.96/lb. lead and assuming 90.3% zinc recovery and 97.7% lead recovery.
As also announced on November 12, 2014, Silver Range has commissioned a barite marketing study by World Industrial Minerals Inc (“WIM”), of Arvada, Colorado. The barite marketing study concluded that barite from the Mel Property could likely be sold into the drilling products market in Western Canada and Alaska. Based on current demand, WIM estimated that sales of 50,000 tonnes per year at $US 100/tonne would be reasonable into the Western Canadian market. The study also recommended that further work be conducted to verify that impurity levels meet specifications.
The next phase of work by Silver Range on the Mel property will likely include: (i) detailed drilling at the Mel Main Zone to define an indicated resource; and (ii) exploration drilling at Mel Main and other zones on the property to further evaluate and expand resource potential. All future work will include various environmental, heritage and geotechnical studies necessary to advance the project.
About Silver Range Resources Ltd.
Silver Range is a junior mineral exploration company listed on the TSX Venture Exchange. The Company is exploring for zinc, lead and silver at its wholly-owned projects in Yukon Territory. Silver Range is well funded, with no debt and approximately $2.8 million in unallocated working capital.
Technical information in this news release has been approved by Matthew R. Dumala, P. Eng., a geological engineer with Archer, Cathro & Associates (1981) Limited and qualified person for the purposes of National Instrument 43-101.
ON BEHALF OF THE BOARD
“Ian J. Talbot”
Chief Operating Officer
For further information concerning Silver Range or its exploration projects please contact:
Silver Range Resources Ltd.
W. Douglas Eaton
President and C.E.O.
Tel: (604) 688-2568
Silver Range Resources Ltd.
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522