(NewsDirect)
Silver Range Resources CEO Mike Power joined Steve Darling from Proactive to share encouraging exploration results from short exploration programs conducted at the Cambridge Property in Lyon County and the Sniper Property in Esmeralda County, Nevada.
At the Cambridge Property, Power reported that reconnaissance underground investigations revealed that exposed stopes in the area of recent excavator trenching were partially backfilled by spoil during excavation. It appears that the upper portions of the mine might be accessible with limited underground rehabilitation. Additionally, mineralization was discovered in a subordinate footwall vein splay, oblique to the main Cambridge Vein. Grab samples from a 15 cm exposure of this vein returned impressive results of 7.61 g/t Au and 52.1 g/t Au.
Meanwhile, at the Sniper Property, a short Packsack diamond drill hole in the north wall of a small pit returned 2.30 meters at 2.10 g/t Au and 55.3 g/t Ag from the surface, with mineralization open at depth. The Sniper Property is located on the north flank of Gold Mountain. The area is characterized by ribbon-banded quartz veins containing pyrite, galena, tetrahedrite, and secondary chrysocolla and wulfenite, present in the carapace of a Jurassic intrusion just below the contact with overlying Precambrian Wyman formation metasediments.
Initial sampling by Silver Range at the Sniper Property showed high gold and silver grades. Out of 14 samples, seven returned assays greater than 5 g/t Au, and five samples returned assays greater than 20 g/t Au, with a peak value of 121 g/t Au. Silver assays ranged from 0.2 to 1,375 g/t Ag, with three samples assaying greater than 100 g/t Ag. The property appears to have been initially explored with small adits and shafts before the 1980s. Between 1978 and 1983, these were partially covered or obliterated by bulldozer during exploration and high-grading. The Sniper Property is one of many small mines and prospects in the Tokop Mining District, which have produced sporadically or intermittently since 1866.
These exploration results underscore the potential for significant mineralization at both the Cambridge and Sniper properties, enhancing Silver Range Resources' prospects for future development and production.
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