VANCOUVER, British Columbia, Sept. 06, 2017 (GLOBE NEWSWIRE) -- Silver Range Resources Ltd. (TSX-V:SNG) (“Silver Range”) is pleased to provide encouraging results of a geologic mapping, sampling and geophysical survey program conducted during April and June at the Skylight Property in Nye County, Nevada. Results from this work have defined good drill targets.
At Skylight, extensive silica caps overlie a near-completely preserved epithermal system in mid-Tertiary felsic tuff. Results from a three-dimensional induced polarization (3DIP) survey conducted in June defined a network of linear chargeability anomalies in the centre of this system. Several of the linears extend into the periphery of the system, following vein and hydrothermal clay alteration zones exposed in gullies at lower elevations. Dickite and hydrothermal kaolinite were noted in two clay alteration zones. Elevated gold, silver and arsenic soil and rock geochemical values are associated with the linear chargeability anomalies, particularly at lower elevations, while scattered high mercury geochemical response was noted over the central silica caps. The southern end of one of the linears was tested by Rimfire Minerals and Newmont in a 2007 drill hole, intersecting 10.7 m @ 0.490 g/t gold (Rimfire Mineral Corporation Press Release dated November 6, 2007). Silver Range cannot independently verify the information released by Rimfire. The 3DIP survey also identified a nexus beneath the silica caps in the south-central region of the target where several linear chargeability anomalies intersect and the linear density is highest. This area and the linears with associated geochemical response will be modelled in detail to design a comprehensive drill plan. A video presentation describing the results at Skylight can be found at www.silverrangeresources.com.
Technical information in this news release has been approved by Mike Power, M.Sc., P.Geo., CPG, 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 Nevada, Nunavut 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.
“Mike Power”
President, C.E.O. & Director
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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.