November 8, 2017 – Silver Range Resources Ltd. (TSX-V:SNG) (“Silver Range”) is pleased to provide an update on exploration results from its Yandle Property, 150 km WNW of Arviat in southern Nunavut.
Reconnaissance geological mapping, sampling and ground geophysical surveys at Yandle in August 2017 confirmed prior work defining a NW-SE trend of gold in float and bedrock over a length of 3 kilometres, open on strike. The trend follows the contact between a gabbroic intrusive unit and intermediate volcanic rocks to the south. Grab samples collected in 2017 along this trend returned up to 15.1 g/t Au. Highest grade mineralization occurs north-south trending, steeply-dipping structures near the contact. Comaplex Minerals Corp. drill tested one of these structures in 2002, reporting 5 m @ 8.64 g/t Au including 2 m @ 16.2 g/t Au (Nunavut Assessment Report 084628). This was the best drill result reported by Comaplex on the property; all of its other holes tested west-northwest striking formational targets and returned significantly lower gold intercepts.
Sampling in 2017 south of the favourable gabbro-volcanic contact focused on iron formation within the intermediate volcanics. Samples here returned up to 8.34 g/t Au; however most samples returned nil to less than 1 g/t Au. This confirmed similar results reported by Comaplex between 1998 and 2002, which found widespread but lower grade gold within this rock unit.
A follow-up program targeting high grade, gold-bearing structures along the gabbro-volcanic contact is planned for 2018.
Work on this project was managed by Aurora Geosciences Ltd. of Yellowknife, NT under the supervision of Dave White, P.Geol. Samples were secured and shipped under chain of custody to ALS Minerals facilities in Yellowknife NT for sample preparation and to North Vancouver for assays and geochemical analyses. Samples were analyzed by Ultra-Trace Aqua Regia ICP-MS (ALS code ME-MS41) and fire assayed for gold (25 g sample) (ALS code Au-AA25). A total of 106 samples were collected of which 4 returned greater than 5 g/t Au and 13 returned assays greater than 1 g/t Au. Technical information in this news release has been approved by Mike Power, M.Sc., P.Geo., President and CEO of Silver Range Resources Ltd. and a Qualified Person for the purposes of National Instrument 43-101.
ON BEHALF OF SILVER RANGE RESOURCES LTD.
President, C.E.O. & Director
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This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.