Silver Range Resources Ltd (TSX-V:SNG, OTC:SLRRF, FRA:8SR) has significantly expanded its footprint at the Drum project in central Utah and is advancing preparations for further exploration, the company said Tuesday.
The company reported that in March it increased its land position from 7 to 37 Federal Lode Claims through additional staking. The newly acquired claims include the Rattler Breccia area and other mineral showings located to the south of the project’s previously defined core zones.
In addition to expanding the property, Silver Range said that it has obtained historical datasets from prior exploration efforts conducted by several companies, including Gold Fields Exploration, Newmont Mining, Renaissance Gold, and Troymet Exploration.
The acquired information includes geological, geochemical, geophysical, and drilling records. According to the company, this data is currently being compiled and reviewed to support planning for further exploration activities later this year.
The Drum project is situated in Juab County, Utah, and hosts gold mineralization associated with jasperoid replacement zones and breccias within limestone of the Cambrian Orr Formation.
Silver Range noted that the geological setting, mineralization style, and geochemical characteristics are comparable to Carlin-type gold deposits found in Nevada. Initial sampling conducted by the company during earlier staking work identified gold values ranging from trace amounts up to 1.02 grams per tonne, and silver values from trace up to 15.2 grams per tonne, based on 23 chip samples.
The company indicated that ongoing analysis of both new and historical data will guide the next phase of exploration at the project.