Business
Silver Range Resources Stakes Five New Targets in Lupin-Back River Area of Nunavut
VANCOUVER, BC--(Marketwired - May 17, 2017) - Silver Range Resources Ltd. (TSX VENTURE: SNG) ("Silver Range") announces that it has staked five new gold targets
About this update from Silver Range Resources Ltd.
[{"type":"text","content":"VANCOUVER, BC--(Marketwired - May 17, 2017) - Silver Range Resources Ltd. (TSX VENTURE: SNG) (\"Silver Range\") announces that it has staked five new gold targets and quadrupled its land position in the emerging South Kitikmeot Gold Belt between the Lupin Mine and the Back River Project in western Nunavut. The South Kitikmeot Gold Belt covers a 200 km long package of Archean Beechey Lake metasedimentary rocks which host the Lupin Mine (3.4 M oz past production) and the Back River Project (5.3 M oz Measured and Indicated) currently being advanced to production by Sabina Gold & Silver Ltd. Silver Range owns four projects in the belt and has augmented its dominant land position with the following acquisitions and additions: Uist South. A block of ground was staked south of and adjoining the Uist Property to cover the southern extension of the auriferous iron formation mapped by Silver Range at Uist Lake during July 2016. The new claims cover sulphide facies iron formation and quartz veins which have returned historical grab sample results up to 40.8 g/t Au. GB West. The Gold Bugs property was extended westward to cover amphibolite facies iron formation with disseminated sulphides which has returned historical samples of up to 5.58 g/t Au. Hiqiniq. This property is west of and adjoins the Lupin Mine leases. Historical surface sampling returned up to 11.16 g/t Au and the best drill result from 5 shallow holes was 0.96 m @ 1.99 g/t Au. Ujaraq. This property is east of and adjoins the Finn Property held by North Arrow Resources. Historical boulder sampling on the property returned up to 28.11 g/t Au and the best of 9 holes intersecting iron formation returned 6.27 m @ 2.13 g/t Au. Wasp Lake. The Esker Lake property has been extended to cover prospective iron formation along strike from the Brandon Hill showing, and to cover the Wasp Lake showing located 6 km to the east. The Wasp Lake showing is hosted in auriferous sulphide facies iron formation locally developed in amphibole facies iron formation. Surface samples returned up to 19.89 g/t Au but reconnaissance diamond drilling (9 holes / 670 m) has yet to locate the mineralization at depth. With this additional staking, Silver Range has increased its ground position from 10,500 acres to 42,700 acres and acquired the last of the open gold showings in the Beechey Lake Group between ...