Silver Range Resources Ltd (TSX-V:SNG, OTC:SLRRF) said its partner Silver47 Exploration Corp has found promising grams per ton of silver at the Silver Matt site of its Michelle project in Yukon.
All five holes intersected oxide-sulphide mineralization, the company said.
Historically, mineralization was first discovered in the Silver Matt target in 2009 where a grab sample returned 4,180 grams per ton (g/t) of silver and a 2015 hand trench yielded 2.8 metres (m) of 894 g/t silver, 46.9% lead and 8.09% zinc. Silver Range said the Michelle project is considered an early-stage exploration project located 130 kilometres north-northeast of Dawson City, Yukon.
READ: Silver Range Resources says set to option Bellehelen silver-gold project in Nevada to private BC company
Silver47’s initial drill discovery at the Silver Matt target was made in 2021 through drilling in hole number MCH-21-005, according to Silver Range.
- Hole MCH-21-005 found 19.8 m of 556 g/t silver, 20.3% lead, 3.16% zinc, including 7.6 m of 824 parts per million (ppm) silver, 28.7% lead, and 1.54% zinc.
- Hole MCH-22-002 yielded 15 m of 907 g/t silver, 26% lead, 2.7% zinc including 7.7 m of 1577 g/t silver, 45% lead, and 4% zinc.
- Holes MCH-22-001 to MCH-22-003 were completed from the same collar as the 2021 holes to test potential down-dip and strike extension from the discovery hole MCH21-005. Holes MCH22-004 and MCH22-005 were collared 50 m northwest to test strike extension, according to the company.
Vancouver-based Silver Range said the drill results showed that: “mineralization occurs primarily as strongly oxidized material with remnant intervals of massive sulphide, primarily galena. The high-grade intervals are typically surrounded by a gradational alteration halo into fresh carbonates. Karst voids above and within the mineralized zones were noted. Mineralization appears to have a shallow northeast dip to flat-lying with a northwest/southeast strike orientation observed across the five holes drilled in 2022.”
Results from the other holes drilled in 2022 included:
- MCH-21-006 intersected 3.04 m of oxide mineralization grading 42.25 g/t silver, 2.4% lead, and 2.8% zinc at 13.72 m depth.
- MCH-22-001 intercepted an intensely oxidized interval of 4.40 m from 21.65 m to 26.05 m contained up to 2% blebby galena with fine white crystalline precipitate zinc and lead oxides.
- MCH22-002 found 7% metallic sulphides, with lead-zinc precipitates observed through the 7.68 m interval.
- MCH-22-003 intersected 9.4 m of high-grade mineralization including 1.05 m of 1395 g/t silver, 51.47% lead (final values pending), 12.25% zinc at 31.05 m.
Silver Range said that a property-wide surface sample and trenching program was carried out on high-priority targets was done at the same time as the drilling.
Silver Matt target
A total of 754 soil samples, and 92 rock samples were collected. Notably, a trench dug approximately 500 m northwest of the Silver Matt drill holes reported two 2-meter contiguous samples grading 423 and 247 g/t silver, with more than 10% lead, indicating a significant potential strike extension, according to Silver Range.
Trench TR22-01 was dug approximately 500 m northwest to the Silver Matt site and produced two 2-m composite samples of 423 g/t silver, 11.9% lead, 1.6% zinc; and 247 g/t silver, 14.5% lead and 0.76% zinc from 2.3 to 4.3 m and 4.3 to 6.4 m respectively. A rock grab sample taken 50 m north of this trench graded 226 g/t silver, 15.8% lead, 2.1% zinc, the company said.
Heeler target
Located 10 kilometres (km) east of the Silver Matt target, five trenches were completed at Heeler, following up a 2015 high-grade sample. Trench TR22-03 contained two samples with 14.5 g/t silver, 2.1% lead, 1.5% zinc, and 22.9 g/t silver, 1.5% lead, 1.6% zinc. Both samples also contained anomalous values of critical minerals returning 303 ppm chromium, 3,400 ppm copper, 208 ppm gallium, 1,940 ppm nickel, 936 ppm antimony and 4,980 ppm vanadium.
Soil/talus-fines sampling in the Heeler area was inconclusive with several point anomalies for silver, lead, and zinc. Silver Range said the concentration of critical minerals warrants further prospecting.
Nanny/Boxer target
Located 21 km northeast of the Silver Matt site, these historic sites produced several anomalies for the 2022-prospecting season, the company said. Soil/talus-fines sampling along contours and ridgelines in this target yielded in three high-priority anomalies for silver, lead, zinc, barium, gallium, and vanadium.
Contact the author at susie@proactiveinvestors.com