Silver Range Resources Ltd (TSX-V:SNG, OTC:SLRRF) has provided an update on its exploration work in Arizona, partner activity and property option developments.
The precious metals prospect generator said it has staked and conducted preliminary exploration on two targets identified by reconnaissance work in Arizona.
Silver Range noted that initial grab sampling at the Chloride property, which covers the northwestern extension of the Tennessee mine, returned assays of up to 18.75 grams per tonne (g/t) gold, 764 g/t silver, 11.6% zinc, and 2.35% lead from dump material at the Elkhart, Dardanelles and Argyll mines.
The company stated it intends to conduct detailed geological mapping, grid soil sampling and geophysical surveys to identify targets for subsequent trenching and drill testing.
Meanwhile at the Crosby property, which covers the small past producing Crosby mine, preliminary sampling by Silver Range returned dump and chip samples assaying up to 22.8 g/t gold, with 5 of 27 samples returning assays greater than 5 g/t gold.
Silver Range said it intends to conduct geochemical and geophysical surveys on the property to locate drill and trenching targets.
As well, the company noted that Viridis Mining & Minerals Limited, which has optioned Silver Range’s South Kitikmeot Gold group of projects, recently reported initial drill results from the Esker Lake property, with five of the seven holes intersecting gold greater than 1 g/t gold.
Furthermore, on May 26, Silver Range concluded two amendments to letters of intent (LOIs) signed with Green Gold LLC, granting Green Gold options on the East Goldfield and Tule Canyon properties.
The company added that the amendments extend the deadline to conclude definitive agreements on both properties to September 30, 2023 in return for consideration of US$20,000 (East Goldfield) and US$11,000 (Tule Canyon), payable by June 30, 2023.
All other terms of the original LOIs remain in effect.
Silver Range is a precious metals prospect generator working in Nevada and northern Canada. The company has assembled a portfolio of 47 properties, of which 15 are currently under option to others.
Contact Sean at sean@proactiveinvestors.com