Silver Range Resources provides update on Nevada operations
The project generator sampled for gold at Bellehelen and Cambridge properties in Nevada
Company
CVE:SNG
Silver Range Resources Ltd is a precious metals prospect generator working in Nevada and Northern Canada. It has assembled a portfolio of 43 properties, of which 14 are currently under option to others. Four other properties have been converted to royalty interests. Silver Range is actively seeking other joint venture partners to explore the high-grade precious metals targets in its portfolio.
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The project generator sampled for gold at Bellehelen and Cambridge properties in Nevada
The project generator staked the Sand Springs property in Churchill County and the Ingot property in Clark County
The property is a joint venture between the company and Auburn Gold Mining LLC and the best assays included 3.2 metres (m) at 14.65 grams per ton (g/t) gold in one trench and 1.5 m at 14.73 g/t gold in another
The company also said it has completed a first pass (10 trench) program at the Cambridge property in Nevada, in which it is investigating highly anomalous gold-in-soil anomalies
Each unit, priced at $0.15 each, will consist of one common share and one non-transferable share purchase warrant, with each warrant to entitle the holder to purchase one additional common share at a price of $0.20 for a period of two years
The company revealed that reconnaissance sampling returned up to 1,420 grams per ton (g/t) silver (Ag) and 2.97 g/t gold (Au) from grab samples collected at old workings
Between May and October last year, the company carried out mapping, prospecting, sampling and soil surveys at the project, with prospecting identifying two new quartz vein occurrences in the northern part of the project
A soil geochemical survey was conducted on a 2,220-metre-by-600-metre grid on the known bedrock mineralization and identified numerous anomalies greater than 100 parts per billion (ppb) gold
Tondo del Pueblo and Alimony are located in Nye County and have returned assays up to 35.4 grams per ton (g/t) gold (Au) and up to 4.84 g/t Au, respectively
The company has 45 prospects and is focused on high grade, surface assets, located in mining-friendly locations
In a corporate update, it revealed geologist Steve Kenwood has been appointed as a board director effective December 6 this year
The Vancouver, British Columbia-based company believes the shareholder rights plan “preserves the fair treatment of shareholders
The Vancouver-based precious metals prospect generator said it acquired its interest in Broden as part of a 2016 property transaction
Surveys also defined a 1,350 m long anomaly along the Price Lode trend with peak response of 5,070 parts per billion gold in an area of known gold mineralization
Virdis will pay Silver Range A$25,000 following the completion of an initial public offering on the Australian Stock Exchange and have the option to earn up to 90% interest in the Nunavut project
To date, Silver Range has assembled a portfolio of 47 properties, of which nine are currently under option to others and three have been converted to royalty interests
The asset lies 62km north west of Tonopah and sits in the Republic Mining District, a silver-gold epithermal camp, which produced briefly in the early 1900s
Supernova has the right to acquire a 100% interest in the property by issuing 1 million common shares to Silver Range on or before June 30
Also, chip samples were collected across trenched vein exposures near the mine, with the best samples returning 0.75m at 12.75 g/t gold and 0.5m at 9.72 g/t gold
In March, a brief rock sampling program was conducted near the Cambridge Mine to extend the current prospecting coverage, with results pending