Silver Range Resources Ltd (TSX-V:SNG, OTC:SLRRF), the prospect generator, has updated on two of its properties and revealed two new hires.
In a corporate update, the company revealed that geologist Steve Kenwood has been appointed as a board director with effect from December 6 this year.
In addition, John Gilbert was named chief corporate development officer with effect from December 1 this year. Since 2008, he has worked as a geological and geophysical technician and as an exploration and mine geologist on projects in Alaska, Yukon, Nevada, California and New York.
Working with the Silver Range CEO, he will be responsible for identifying and realizing opportunities to develop the high-grade gold and silver projects in the company's portfolio.
Elsewhere, the company reported it had sold to Silver47 Exploration Corp a 100% interest in the Michelle property in the Yukon for 5.65 million shares in the capital of Silver47, representing 19.9% of Silver47 at that time.
READ: Silver Range announces adoption of shareholders' rights plan
Silver Range retained a 1% net smelter return (NSR) royalty in all commercial production from the project and will be entitled to receive a one-time payment of $1 million if a positive production decision is made on a resource of not less than 80 million ounces of silver as outlined in a feasibility study.
The company also said that Victory Resources Corp (CSE:VR, OTC:VRCFF) had terminated an option to acquire an 80% interest in the Loner property, held under an agreement dated October 18, 2021. The property sits 35 kilometres (km) south of the city of Winnemucca, Nevada.
Silver Range staked Loner in October 2018 following regional reconnaissance work. The claims cover high-grade low sulphidation epithermal veins first discovered in 1906 and mined on a small scale through the 1930s.
Finally, at this year's annual general meeting (AGM) held on December 3, 2021, all proxy matters, including the re-election of the incumbent directors, were approved by the Silver Range shareholders.
Contact the writer at giles@proactiveinvestors.com