30 August 2016
August 30, 2016 – Silver Range Resources Ltd. (TSX-V:SNG) (“Silver Range”) announces that it has signed a letter of intent (LOI) to option the Up Town Gold Project to Rover Metals Corp.
The Up Town Gold Project (the “Property”) is a high grade Archean lode gold prospect adjoining the Giant Mine in Yellowknife, Northwest Territories.The Property consists of 6 claims covering 3,227 hectares and borders the west side of the Giant Mine leases.The Property centre is approximately 6 km north from downtown Yellowknife, and adjoins TerraX Minerals’ Yellowknife City Gold Property. The Property is road accessible year round via the Ingraham Trail (Territorial Highway 4) which runs through the eastern portion of the claims.Gold was discovered on the Property in 1960 and two targets were explored intensively from 1963 to 1966.Small scale high grade mining was conducted at the Rod Vein in 1979.In 2011, the Property was restaked by Panarc Resources Ltd. and since then has been explored by Panarc, Manson Creek Resources Ltd. and North Sur Resources Ltd. who mapped, sampled, conducted geophysical surveys and drilled nine shallow (Winkie) drill holes into three of the targets.Silver Range Resources purchased the Property in 2016 and recently completed systematic property-wide lithogeochemical sampling, alteration mapping and airborne total magnetic field and radiometric surveys.