VANCOUVER, BC–(Marketwired – September 07, 2016) – Silver Range Resources Ltd. (TSX VENTURE: SNG) (“Silver Range”) announces that it has staked and conducted preliminary exploration at the Quartzite Property in the Kivaliq Region of Nunavut.
The Quartzite Property is near Kaminak Lake, 130 km SW of Rankin Inlet. The property follows the contact between a gabbroic intrusion and metavolcanic rocks in a regional structural setting favourable for hosting Archean lode gold mineralization. The property covers 10 Nunavut Government documented gold occurrences along a 9 km strike length.
At the West End Zone, quartz carbonate veins carry gold with galena and pyrite. Historical sampling of this material returned assay values of up to 17.3 g/t Au. Confirmatory sampling during 2016 returned grab samples results of up to 27.3 g/t Au.
The central Eva Lake Zone covers an extensive train of metavolcanic-hosted quartz-galena-chalcopyrite-pyrite float. The best historical sampling from this area returned results of 132 g/t Au. Confirmatory sampling during 2016 returned results of up to 26.2 g/t Au.
At the eastern Joan Lake Zone, pyrite-bearing quartz veins in carbonate-altered mafic metavolcanic rocks returned historical assays up to 17.8 g/t Au. Confirmatory sampling during 2016 returned results of up to 9.53 g/t Au. Historical work in the area by Noble Peak Resources included an electromagnetic and magnetic field survey covering a portion of the claims. No drilling has been conducted on the property.
Silver Range is building and exploring a portfolio of high grade gold targets in Nunavut, the Northwest Territories and Nevada to fulfil an increasing demand for gold projects in politically stable jurisdictions.
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
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.