Silver Range stakes new high-grade gold targets in Nevada

VANCOUVER, June 29, 2018 /CNW/ - Silver Range Resources Ltd. (TSX-V: SNG) ("Silver Range") announces it has completed a spring reconnaissance program in Nevada and staked three new high grade gold targets.

Robot

The Robot Property is 22 kilometres south of Yerington in Lyon County. The claim block covers gold occurrences in Jurassic-Cretaceous granodiorite along a mile-long trend in the footwall of a prominent north-striking range front fault.  Gold mineralization is hosted in sympathetic, antithetic and cross-cutting veins and shears.  At the North Showing, best grab sample results from an initial examination by Silver Range in May were 54.3 g/t Au and 20.0 g/t Au from separate veins. At the South Showing, best grab sample results from the same program were 5.86 g/t Au. Six of 21 grab samples collected during the initial examination returned analyses greater than 1 g/t Au. Silver Range found no evidence of modern exploration suggesting this target may have been overlooked. Reconnaissance stream sediment sample results suggest that additional mineralization may be present between the two showings. Silver Range intends to conduct additional prospecting and sampling to follow-up on the stream sediment sampling results.

Bottom Dollar

The Bottom Dollar Property is 102 kilometres northwest of Winnemucca in Humboldt County. The property is underlain by Jurassic-Triassic limestone and Happy Creek volcanics intruded by Cretaceous(?) granodiorite. Gold mineralization is dominantly vein hosted with subordinate skarn developed in carbonate rocks. Nevada Bureau of Mines and Geology sampling reported assays of 28 g/t Au and 23 g/t Au from selected specimens collected on the property. Initial sampling by Silver Range in May 2018 returned a best grab sample assay of 15.95 g/t Au with 181 g/t Ag and 1.1% Cu from a set of 24 samples, 5 of which returned gold analyses greater than 1 g/t Au. Anomalous orientation soil sample results up to 132 ppb Au were returned from an area of past trenching but higher responses up to 554 ppb Au were recorded well outside of this zone.  Additional prospecting, soil sampling and ground geophysics followed by trenching are required to further assess the property's potential.

Posh

The Posh Property is located in Mineral County, 20 km south of Hawthorne in the Wassuk Range.  The property is underlain by Cretaceous granite and granodiorite cut by west-northwest trending shears and veins. The Main Showing on the property consists of gold and silver bearing quartz in a 1.5 metre wide, steeply north-dipping shear zone. The shear zone is exposed in trenches, an adit and a road cut over a distance of approximately 120 m. Initial grab sampling in April returned grab samples assaying up to 4.82 g/t Au and 101 g/t Ag with 4 of 8 samples collected returning analyses greater than 1 g/t Au. This confirmed similar results reported by the Nevada Bureau of Mines and Geology which report a historic grab sample assay of 5.30 ppm Au and 120 ppm Ag from dump material.

In addition to work on these projects, a series of other prospects were screened and regional work continued on a developing target. Further work in Nevada is planned in the fall, following completion of summer exploration work on projects in the NWT and Nunavut.

Samples were secured and transported by the field crew to ALS Minerals facilities in Reno, Nevada for sample preparation. Pulps were shipped to North Vancouver for assaying and geochemical analyses. Rock samples were analyzed by Ultra-Trace Aqua Regia ICP-MS (ME-MS41) and fire assayed for gold (30 g sample) (Au-AA25). Samples that exceeded the detection limits of the routine methods were assayed for silver and copper by inductively coupled plasma-atomic emission spectroscopy (Ag/Cu-OG46) and for gold by gravimetric analysis (Au-GRA21).  Soil samples were analyzed by ICP-MS (ME-MS41L).

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 Nevada, Nunavut and the Northwest Territories. The company has assembled a portfolio of 40 properties, 12 of which are currently optioned and being explored by partners. Silver Range is actively seeking joint venture partners to explore the high grade precious metal targets in its portfolio.

Additional information on Silver Range's properties may be found on the company's new website at www.silverrangeresources.com.  

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.