Silver Range Resources Ltd. Expands and Explores the High-Grade Silver Roughrider Property, Nevada
VANCOUVER, March 10, 2022 - Silver Range Resources Ltd. (TSX.V:SNG) ("Silver Range" or the "Company") is pleased to provide results from a recent exploration program at the Roughrider Property in Esmeralda County, NV. Historical workings at Roughrider date back to at least 1907 and are described in a 1974 Sunshine Mining Company report as consisting of a "1625' adit, 150' shaft, 250' shaft, 100' shaft, 600' adit with hundreds of feet of sublevels and stopes off both the shafts and adits." To date, Silver Range has found no evidence of drilling on the property. In September 2020, Silver Range conducted a short geologic mapping, rock and soil sampling program at Roughrider to investigate high grade silver mineralization on the property. Grab samples from spill piles and a muck sample at the base of a raise on the main host shear returned assays ranging from 50.9 g/t Ag to 995 g/t Ag. In February 2022, Silver Range expanded the Roughrider Property, staking claims to the south to cover additional historical workings. Reconnaissance sampling in this area returned up to 1,420 g/t Ag and 2.97 g/t Au from grab samples collected at old workings.
Mineralization on the property is found in shear zones cutting Jurassic Sylvania Pluton granodiorite. The intrusive rocks are cut by a prominent N veering ENE trending fault zone which was is exposed in outcrop and workings over a distance of 1,800 m on the property. Shears in the fault system contains white to green clay together with quartz veinlets, limonite, hematite and notable yellow-green pyromorphite, mimetite or freedite. Silver and gold mineralization appears to report with these Pb-Cu-As oxides. The structure has been explored with adits, shafts and open cuts along its length. At the northeast end of the structure, a cut was taken out with a bulldozer where a vein ran along a hillside slope and apparently trucked, stacked and leached in small leach pad below the hillside. A composite grab sample of mineralized material from this leach pad returned 801 g/t Ag and 8.09 g/t Au.
A soil geochemical survey was conducted over the exposed mineralization and inferred strike extent in the northern portion of the property. The silver and gold in soil responses suggest that the main shear extends to the WSW under cover to the limit of the grid. Weak anomalous gold response extends across the 600 m grid and stronger silver response extends for 500 m along the grid, truncated to the east. The geochemical responses are coincident with the known mineralization and suggest that host shear zone may extend further to the WSW and likely links up with larger structures in the southern section of the property.
More information on the property including a short video presentation may be found at https://silverrangeresources.com/projects/nevada/roughrider/
A total of 12 grab and chip rock samples were collected during the 2021 program. These returned gold values ranging from trace to 8.09 g/t Au with 1 sample greater than 5 g/t Au and from 0.8 to 955 g/t Ag with 4 samples greater than 100 g/t Ag. A total of 46 soil samples were collected during the program on lines spaced 100 m apart with stations spaced 25 m apart, omitting areas of possible or evident surface disturbance. Soil response ranged from 0.8 to 16.8 ppb Au and from 0.06 to 7.7 ppm Ag. Samples were secured and transported under chain of custody to ALS Minerals facilities in Reno, Nevada for sample preparation and analysis. Rock pulps were shipped to North Vancouver for assaying and geochemical analyses. At the laboratory, soil samples were screened to -180 mm and a 50 g aliquot was analyzed for 41 elements with induced coupled plasma mass spectrometry (ICP-MS). ALS documents a 0.1 ppb Au detection limit for this technique. Overlimit soil samples (> 1.00 ppm Au) were re-analyzed with ALS procedure Au-AROR44. Rock samples were analyzed by Ultra-Trace Aqua Regia ICP-MS (ME-MS41) and fire assayed for gold (50 g sample) (Au-AA26). Samples returning overlimit silver analyses were reanalyzed with a technique appropriate to ore grade concentrations (Ag-OG46).
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.
About Silver Range Resources Ltd.
Silver Range is a precious metals prospect generator working in Nevada and Northern Canada. It has assembled a portfolio of 45 properties, 13 of which are currently under option to others. Four projects have been converted to royalty interests. Silver Range is actively seeking other joint venture partners to explore the high-grade precious metals targets in its portfolio.
ON BEHALF OF Silver Range Resources Ltd.
"Michael A. Power"
President and Chief Executive Officer
For further information concerning Silver Range or its exploration projects please contact:
Investor Inquiries
Richard Drechsler
Vice-President, Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
rdrechsler@silverrangeresources.com
http://www.silverrangeresources.com
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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.