May 22, 2018 - Silver Range Resources Ltd. (TSX-V:SNG) (“Silver Range”) announces that in April, geological mapping, sampling and geochemical surveys were completed at the Yuge property in Humboldt County, Nevada. The results from this work are pending. The Yuge property is under option to Trifecta Gold Ltd. and hosts high grade gold drill intercepts below shallow historical mine workings.
Silver Range is currently completing a reconnaissance program on targets elsewhere in Nevada. The reconnaissance program is being carried out by two crews investigating targets with reported high-grade (> 5 g/t Au) gold mineralization. Results from this program should be available by the end of June.
In Nunavut, an exploration program is scheduled to begin in July covering prospective stratigraphy including Meso-Archean conglomerate-hosted, high grade gold occurrences similar in style to that found in Australia’s Pilbara region by NOVO Resources Corp. A compilation of historical geological mapping and sampling by the Geological Survey of Canada, the NWT Geoscience Office and the Nunavut Geoscience Office has identified a 120 kilometre long favourable rock unit with gold occurrences similar in style to that found at Silver Range’s Tree River project.
Previous work by BHP Billiton and Strongbow Exploration at Tree River was successful in identifying a 4.8 kilometre-long, 2.7 to 2.9 billion year old quartz pebble conglomerate particularly enriched in gold. Assessment reports filed by BHP and Strongbow document local occurrences of high grade gold returning grab samples up to 142 g/t Au and channel samples up to 0.35 m @ 63.15 g/t Au with a number of locations returning grab samples in excess of 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.
Silver Range also announces that effective May 15, 2018, Thomas P. Beaudoin resigned as a company director. The board and management of Silver Range wish to thank Mr. Beaudoin for his service and contributions to the company over his tenure as a director.
Silver Range is a precious metals prospect generator working in Nunavut, Nevada and the Northwest Territories. The company has assembled a portfolio of 39 properties, 12 of which are currently optioned and being explored by partners. Silver Range is actively seeking joint venture partners to explore the high grade precious metal targets in its portfolio.
ON BEHALF OF SILVER RANGE RESOURCES LTD.
President, C.E.O. & Director
For further information concerning Silver Range or its exploration projects please contact:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.