Silver Range Resources Ltd. Samples 10.6 g/t Au from Bedrock and Defines an Extensive Gold Soil Geochemical Anomaly at Loner Property, Nevada
Vancouver, B.C., November 17, 2020 – Silver Range Resources Ltd. [TSX-V:SNG] (“Silver Range” or the “Company”) is pleased to provide results from recently completed geophysical and geochemical surveys at its high-grade Loner Property in Pershing County, Nevada.
The Loner Property is located 35 km south of Winnemucca in the southern Sonoma Range and currently consists of 16 Federal Lode Claims covering historic workings and exposed low-sulphidation gold mineralization. Bedrock grab sampling to date has returned a peak value of 16.6 g/t Au while chip sampling in old workings assayed up to 25.7 g/t Au over 1.83 m. (Silver Range news release dated October 30, 2018) Prospecting during 2020 identified additional workings on the expanded claim block, returning grab samples up to 10.6 g/t Au.
A soil geochemical survey was completed over an 1100 x 400 m grid centred on the historic workings and exposed mineralization. The survey identified a strong gold-in-soil anomaly with associated arsenic response, which extends to the edge of the grid in three directions. Principle component analysis (PCA) of the soil response indicates that bedrock gold mineralization at Loner is associated with a PCA factor defined by key low-sulphidation epithermal deposit pathfinder elements (Au, Hg, Sb and As).
Horizontal loop electromagnetic field and total magnetic field surveys were conducted over the soil grid. These identified a series of steeply-dipping bedrock conductors, associated with the exposed mineralization and with second-order total magnetic field lows.
Additional work is planned. The existing soil grid will be expanded to define the limits of the extensive gold geochemical anomaly. In addition, the Company intends to conduct trenching to determine the width and character of the vein arrays at the historic workings and to investigate the source of discrete peripheral gold and arsenic anomalies in overburden covered areas.
More information including a short video presentation describing recent results may be found on Silver Range’s website at www.silverrangeresources.com/projects/nevada/loner/.
Exploration work at the Loner Property was conducted by staff from Archer, Cathro & Associates USA Ltd. and Aurora Geosciences Ltd. Samples were secured and transported under chain of custody to ALS Minerals facilities in Reno, Nevada for sample preparation. Pulps were shipped to North Vancouver for assaying and geochemical analyses. Rock samples were analyzed by Ultra-Trace Aqua Regia ICP-MS (ME-MS41) and fire assayed for gold (25 g sample) (Au-AA25). Soil samples were analyzed by ICP-MS (ME-MS41L).
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.
About Silver Range Resources Ltd.
Silver Range is a precious metals prospect generator working in Nevada and Northern Canada. It has assembled a portfolio of 43 properties, 11 of which are currently under option to others. Silver Range is actively seeking other joint venture partners to explore the high-grade precious metals targets in its portfolio.
ON BEHALF OF SILVER RANGE RESOURCES LTD.
“Michael A. Power”
President and Chief Executive Officer
For further information concerning Silver Range or its exploration projects please contact:
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
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.