VANCOUVER, Aug. 15, 2018 /CNW/ - Silver Range Resources Ltd. (TSX-V: SNG) ("Silver Range") announces that exploration is underway on its Tree River Property in western Nunavut. A geological crew began work in early August to verify the extent and tenor of known mineralization and to locate new mineralization along strike within the favourable host-rock unit. Work at Tree River and on the peripheral targets will be completed by the end of August and results are expected early in the fall.
The mineralization at Tree River bears striking similarity to that found in gold-bearing Archean conglomerates in the Pilbara region of western Australia and the Witwatersrand in South Africa. At Tree River, gold is hosted in quartz pebble conglomerate (QPC) overlying mafic volcanics at the base of an Archean greenstone succession. The QPC has a local mapped strike length of 4.8 km and is from 15 to 20 m thick. The conglomerate is grain supported with pyrite and carbonaceous matter in the matrix. Pyrite is ubiquitous ranging from a background of 1-2% to from 5-25% in lenses within the conglomerate. Arsenopyrite, stibnite and sphalerite are reported to occur with pyrite. The QPC is particularly enriched in gold with background values in excess of 100 ppb Au, numerous grab samples in excess of 1 g/t Au and 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. The host conglomerate is dated between 2,940 and 2,700 Ma based on detrital zircons in proximal sediments, placing it in the favourable time window for the "Great Gold Deposition Event" (Q. Hennigh, 2016). A summary of the Tree River Project is available on Silver Range's website at www.silverrangeresources.com/projects/nunavut/tree-river/.
Information including analytical results cited in this news release were extracted from assessment reports filed with the Nunavut Mining Recorder and cannot be independently verified by Silver Range. 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 is a precious metals prospect generator working in Nunavut, Nevada and the Northwest Territories. The company is actively seeking joint venture partners to explore the assets in its portfolio.
ON BEHALF OF SILVER RANGE RESOURCES LTD.
President, C.E.O. & Director
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.
SOURCE Silver Range Resources Ltd.
For further information: concerning Silver Range or its exploration projects please contact: Investor Inquiries, Richard Drechsler, Vice-President, Communications, Tel: (604) 687-2522, NA Toll-Free: (888) 688-2522, [email protected], http://www.silverrangeresources.com