Silver Range Resources adds Opulent high-grade gold property in Nevada to its portfolio
Grab samples from the property returned assays of up to 37.2 g/t gold
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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Grab samples from the property returned assays of up to 37.2 g/t gold
At the Stinson project in White Pine County, Silver Range said last year, it defined a 47 sq km area of interest and staked four additional claim blocks covering the known gold showings
The firm issued 2.33 million units priced at C$0.25
Surface rock sampling on the property has yielded peak values of 4,180 g/t silver, 48.57% zinc, 82.78% lead, and 1,120 ppm gallium
The company said the proceeds will be used to finance further exploration in Nevada and for working capital purposes
Earlier sampling by Silver Range returned 4,320 g/t silver and 3,530 g/t silver from vein material exposed in underground workings
The company said peak soil responses in gold and silver were 82.8 ppb gold and 1.35 ppm silver, noting that the mineralization is similar to that of Gold Point
The company said assays from the samples included grades as rich as 1,490 grams per tonne (g/t) silver and 11.25 g/t gold
The company said drill results from Cabin Lake, in which it retains a royalty, included 22.01 metres of 7.94 grams per tonne gold
Bedrock sampling results from the project included values of up to 10.6 grams per ton gold
Prospecting incidental to the installation of geophysical grids returned up to 1,130 grams per ton (g/t) silver and 4.94 g/t gold from nine grab samples
Airborne total magnetic field and radiometric surveys were conducted by Precision Geosurveys of Vancouver, British Columbia
The firm is designing a program to systematically test the gold and newly discovered diamond potential of the Tree River Conglomerate
Volt Energy Corp, which has now changed its name to Supernova Metals Corp, can acquire a 75% interest in the asset by paying Silver Range a total of C$300,000 in cash and performing a minimum of 2,000 meters of drilling over three years
Skylight is an early stage prospect that earlier exploration work indicates houses a fully preserved, drill-ready precious metal epithermal system
Cold Springs is a low sulphidation epithermal prospect around 80 km east of the city Fallon on Highway 50 in Churchill County
Gold Point is a high-grade gold and silver mining district in the state that produced an estimated 74,000 gold equivalent ounces over an 80-year period
Silver Range will receive a 9.9% stake in Trifecta, which will receive a path to 100% ownership of Yuge in Nevada
The firm reported on April 6,that it had closed the first tranche raising C$104,000 gross, which it said would be used for exploration
The prospect generator also provided an update on its response to the coronavirus pandemic