Silver Range partner Rush Gold advances Skylight
Silver Range Resources Ltd. (TSX-V:SNG) (“Silver Range”) announces that Rush Gold Corp. (CSE:RGN) (“Rush Gold”) has been listed for trading on the Canadian Stock Exchange and intends to begin exploration on the Skylight Property (“Skylight”) (See Rush Gold Corp. news release dated June 20, 2025).
The Skylight Property is centred on a low sulphidation hydrothermal cell in the Royston Hills, Nye County, Nevada. At Skylight, the hydrothermal system is fully preserved with silica caps forming resistant low hills in the centre of the property. These caps consist of quartz-chalcedony breccia and rare laminated silica suggesting that Skylight is vent-proximal and likely centred on an outflow zone. Low sulphidation epithermal deposit models predict precious metal deposition beneath outflow zones where thermodynamic conditions favour fluid boiling and dumping of precious metals from solution.
Three-dimensional induced polarization surveys conducted by Silver Range in 2017 defined a series of linear chargeability anomalies beneath the silica caps which are congruent with other second order structures exposed in this section of the Walker Lane. Above these linear features, soil geochemical responses are elevated in elements associated with precious metal bearing low sulphidation epithermal systems including mercury, gold, silver and arsenic. Silver Range believes these geophysical and geochemical anomalies indicate the location of feeder structures beneath the silica caps. These are primary drill targets on the property.
With respect to the high level of preservation, the Skylight target closely resembles the 16-million-ounce Silicon and Merlin gold discoveries near Beatty, southeast of Skylight along the Walker Lane. The centre of the Skylight hydrothermal system has not been drill-tested but 2007 drilling by Newmont and Rimfire Metals on the periphery of the system returned several gold intersections with best results of 10.67 m @ 0.49 g/t Au. This strongly suggests that the hydrothermal system at Skylight is gold-bearing in contrast to many similar fully-preserved but barren low sulphidation targets along the Walker Lane.
More information on the Skylight Property may be found on Silver Range’s website at https://silverrangeresources.com/projects/southwest-us/under-option/skylight/.
Rush Gold may obtain a 100% interest in the Skylight Property by completing 3,000 m of drilling; by paying $310,000 to Silver Range; and by issuing 680,000 shares to Silver Range over a three-year term. Silver Range will retain a 3% net smelter return and is entitled to receive milestone payments following definition of resources on the property.
Technical information in this news release has been approved by Mike Power, M.Sc., CPG, President and CEO of Silver Range Resources Ltd. and a Qualified Person for the purposes of National Instrument 43-101.
About Silver Range
Silver Range is a precious metals prospect generator working in the Southwest United States and Northern Canada. It has assembled a portfolio of 34 properties, 11 of which are currently optioned to others and also retains 9 royalty interests on previously-vended projects. Silver Range is actively seeking other joint venture partners to explore the high-grade precious metals opportunities in its portfolio.
ON BEHALF OF SILVER RANGE RESOURCES LTD.
“Mike Power”
President, C.E.O. & Director
For further information concerning
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Investor Inquiries Mike Power Tel: (604) 687-2522 NA Toll-Free: (888) 688-2522 |
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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.