Silver Range Resources Ltd. Identifies Seven New Mineralized Zones and Multiple New Geochemical Anomalies at Silver Range Project
January 27, 2012 at 08:30 am EST
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Silver Range Resources Ltd. announced results from extensive geochemical surveys and preliminary follow-up prospecting completed in 2011 at the company's wholly owned Silver Range Project. The geochemical surveys involved collection of more than 20,000 soil and stream sediment samples. Promising anomalies were prospected as results were received, with many of the highest values returned after the conclusion of fieldwork. The 800 sq km Silver Range Project is located in an area of exceptional infrastructure, 10 to 40 km north of the town of Faro in southern Yukon. Fieldwork in 2011 identified the following new zones: The RGS Zone is situated 8 km to the southeast of the Keg Main Zone. A government stream sediment sample from this area returned high lead and tin values, which are 99 percentile anomalies for the entire Selwyn Basin. A multi-element soil anomaly spans a 1000 by 1000 m area and remains open to the west. This anomaly contains strongly elevated silver values from 10 to a 226 ppm (or 6.59 ounces per ton), representing silver-in-soil value collected to date on the property. The anomalous soil values are accompanied by a zone of silica alteration that has been identified over an area measuring 2 km long by 100 to 500 m wide. Thirteen rock samples collected from this zone averaged 123 g/t silver, with accompanying high tin values to a peak of 15,400 ppm (1.54%). The Zeno Zone lies 13 km to the west northwest of the Keg Main Zone. A one square kilometer multi-element soil anomaly is defined by moderately to strongly anomalous silver (from 5 to 11.15 ppm), lead (from 500 to 1005 ppm) and tin (from 10 to 59.3 ppm) and is open to the west. The metal rich soil overlies hornfelsed sedimentary rocks adjacent to a small intrusive body. Six rock samples collected from this zone averaged 53 g/t silver and 1.23% zinc. The Archimedes Zone is situated 16 km east of the Keg Main Zone, along trend between the Drex Zone and the Marks Zone. It lies about 1000 m upstream of a prominent gossan and is marked by a multi-element soil geochemical anomaly that measures approximately 300 by 400 m. Five rock samples from this zone averaged 238.8 g/t silver and 3.75% lead. The Euclid Zone is located 17 km southeast of the Keg Main Zone. A 300 by 600 m soil geochemical anomaly contains silver values from 2 to 12.95 ppm. Five rock samples of altered shale collected near a granitic dyke returned elevated silver (from 4.65 to 23.6 ppm). The Ku Zone is situated 43 km to the southeast of the Keg Main Zone and was staked during the 2011 season to cover an area where regional government stream sediments returned strongly anomalous gold (2.44 g/t) together with high arsenic, antimony and silver values. A reconnaissance soil sample collected in this area yielded 23.9 ppm silver, while five rock samples returned an average of 85.29 g/t silver and 0.163 g/t gold. The Snail Zone lies 30 km to the northwest of the Keg Main Zone. Reconnaissance sampling returned a very high gold value of 11.6 g/t from soil associated with a clay-altered shear. The Keg South Zone is located 3 km to the south of the Keg Main Zone. It was discovered by following up a cluster of high copper values that were not supported by other metals. Surprisingly, three relatively uninteresting rocks picked up within the anomalous area returned 7.58 to 43.5 ppm silver with 0.045 to 0.105% copper.
Silver Range Resources Ltd. is a Canada-based mineral exploration company. The Companyâs mineral property interests include various mineral properties located in the Yukon Territory, Northwest Territories and Nunavut in Canada and in Nevada, United States. The Companyâs projects include Mel and Barb, Michelle, Silver Range, Cabin Lake royalty interest, Uptown Gold property option, South Kitikmeot property option, East Goldfield property, Hannapah and other. The Mel and Barb projects are located in the Watson Lake Mining District, Yukon Territory. The Michelle property is located in the Dawson and Mayo Mining Districts, Yukon Territory. The Silver Range project is located in the Whitehorse Mining District, Yukon Territory, which includes the JRV claims and the BP4 claim. The Cabin Lake property is located in the Northwest Territories. The South Kitikmeot project is located in Nunavut, Canada, which comprises the Bling, Esker Lake, Goldbugs, Hiqiniq, Ujaraq, Uist and Qannituq properties.