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Silver Range Resources Ltd. Reconfigures Yuge Property Option to Advance Exploration on the Property
VANCOUVER, BC / ACCESSWIRE / July 9, 2020 / Silver Range Resources Ltd. (TSXV:SNG) ("Silver ...
About this update from Silver Range Resources Ltd.
[{"type":"text","content":"Silver Range Resources Ltd. Reconfigures Yuge Property Option to Advance Exploration on the PropertyVANCOUVER, BC / ACCESSWIRE / July 9, 2020 / Silver Range Resources Ltd. (TSXV:SNG) (\"Silver Range\") announces that it has amended the terms of an option with Trifecta Gold Ltd. (TG) (\"Trifecta\") to rapidly advance exploration at the Yuge Property in Humboldt County, Nevada. The new agreement replaces the existing option agreement announced February 28, 2018 (Silver Range News Release dated February 28, 2018).The Yuge Property (\"Property\") is located in Humboldt County, approximately 55 kilometres south of Denio in the Varyville Mining District. The Property covers the Columbia and Juanita Mines which produced on a small scale between 1870 and 1937. The most recent reported production was 2,350 tons of oxide ore in 1936-37 from the Columbia Mine.Gold on the Property occurs with arsenopyrite in mesothermal quartz veins and adjacent wall rock. These occur in sub-parallel shear zones up to 60 m wide and over 1,200 m long. Selected surface grab samples collected on the property by the Nevada Bureau of Mines and Geology returned assays up to 15 g/t Au and similar samples collected by Homestake Mining Company assayed up to 53.0 g/t Au. The highest gold grades were reported from near-surface oxidized vein material where documented run-of-mine sorted ore assayed greater than 34 g/t Au and reported sampling of a crown pillar returned 2.4 m @ 16.8 g/t Au including 0.6 m @ 50.7 g/t Au. Sulphide mineralization occurs at depths greater than 30 m with arsenopyrite-rich material reportedly assaying greater than 17.4 g/t Au. A reported true-width drill intersection in this material at 49 m depth returned 3.3 m @ 9.70 g/t Au. Historical drilling intersected gold mineralization or open stopes in all holes reported but only to a maximum depth of 100 metres. Silver Range believes there is considerable potential to discover similar mineralization at depth given the mesothermal character of the veins and shears and the considerable depth extent of gold mineralization in deposits of this class.Under the previous option, Trifecta conducted a reconnaissance program in spring of 2018 (Trifecta News Release dated June 21, 2018) which confirmed the presence of high grade gold at multiple showings on the Property. Significant rock samples by zone include...