VANCOUVER, Aug. 15, 2018 /CNW/ - Silver Range Resources
Ltd. (TSX-V: SNG) ("Silver Range") announces that exploration
is underway on its Tree River Property in western Nunavut. A
geological crew began work in early August to verify the extent and
tenor of known mineralization and to locate new mineralization
along strike within the favourable host-rock unit. Work at
Tree River and on the peripheral targets will be completed by the
end of August and results are expected early in the fall.
The mineralization at Tree River bears striking similarity to
that found in gold-bearing Archean conglomerates in the Pilbara
region of western Australia and
the Witwatersrand in South Africa. At Tree River, gold is
hosted in quartz pebble conglomerate (QPC) overlying mafic
volcanics at the base of an Archean greenstone succession.
The QPC has a local mapped strike length of 4.8 km and is from 15
to 20 m thick. The conglomerate
is grain supported with pyrite and carbonaceous matter in the
matrix. Pyrite is ubiquitous ranging from a background of
1-2% to from 5-25% in lenses within the conglomerate.
Arsenopyrite, stibnite and sphalerite are reported to occur with
pyrite. The QPC is particularly enriched in gold with
background values in excess of 100 ppb Au, numerous grab samples in
excess of 1 g/t Au and local occurrences of high grade gold
returning grab samples up to 142 g/t Au and channel samples
up to 0.35 m @ 63.15 g/t
Au. The host conglomerate is dated between 2,940 and
2,700 Ma based on detrital zircons in proximal sediments, placing
it in the favourable time window for the "Great Gold Deposition
Event" (Q. Hennigh, 2016). A summary of the Tree River Project is
available on Silver Range's website at
www.silverrangeresources.com/projects/nunavut/tree-river/.
Information including analytical results cited in this news
release were extracted from assessment reports filed with the
Nunavut Mining Recorder and cannot be independently verified by
Silver Range. Technical information in this news release has
been approved by Mike Power, M.Sc.,
P.Geo., President and CEO of Silver Range Resources Ltd. and a
Qualified Person for the purposes of National Instrument
43-101.
Silver Range is a precious metals prospect generator working in
Nunavut, Nevada and the Northwest Territories.
The company is actively seeking joint venture partners to explore
the assets in its portfolio.
ON BEHALF OF SILVER RANGE RESOURCES LTD.
"Mike Power"
President, C.E.O. & Director
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release may contain forward looking statements
based on assumptions and judgments of management regarding future
events or results that may prove to be inaccurate as a result of
exploration and other risk factors beyond its control, and actual
results may differ materially from the expected results.
SOURCE Silver Range Resources Ltd.