Silver Range Resources Ltd (TSX-V:SNG, OTC:SLRRF, FRA:8SR) earlier this week provided an update on exploration activities at its Alamo gold-copper project in Arizona, where recent sampling and geophysical work has identified promising new targets for follow-up exploration.
Speaking with Proactive, chief executive officer Mike Power said the company has continued to advance the historic Alamo property, which previously produced high-grade gold and copper from narrow vein systems associated with specular hematite.
Power explained that Silver Range's exploration strategy is focused on identifying areas where multiple mineralized veins may converge, potentially creating a larger and more attractive exploration target than the individual veins historically mined.
Recent fieldwork included an expansion of the soil sampling grid, additional geophysical coverage and prospecting. The program returned encouraging results, including soil samples grading up to 1.34 grams per tonne gold and rock samples grading up to 21.8 grams per tonne gold.
Power highlighted the significance of the soil anomalies, noting that finding gold values above one gram per tonne in soil samples is relatively uncommon in the region.
In addition to the sampling results, a very low frequency (VLF) geophysical survey identified several conductive zones that appear to be associated with known mineralization. According to Power, these conductors may help pinpoint bedrock sources and structural intersections that could represent priority exploration targets.
A key near-term catalyst for investors is the company's planned induced polarization (IP) survey at Alamo. The survey is expected to provide additional subsurface information that could help refine drill targeting and improve understanding of the property's mineralized systems.
Power also discussed Silver Range's long-standing partnership with Altus, describing the royalty company as a supportive partner in project generation activities across the southwestern United States. The newly announced royalty forms part of a broader collaboration between the two groups.
Beyond Alamo, investors can expect news flow from the company's East Goldfield project. Power indicated that drill results are expected shortly and that a large IP survey is about to commence. He also said recent geological mapping has improved the company's understanding of the project and could support future exploration targeting.
With multiple exploration programs underway and several potential catalysts approaching, including geophysical surveys and drill results, Silver Range appears positioned for an active period of news flow across its portfolio.