Silver Range stakes Atlantis property near Meadowbank Mine
7 February 2019
Silver Range Resources Ltd. has received prospecting permits covering a large gold target near the Meadowbank Mine in Nunavut. The Atlantis Project consists of two prospecting permits covering 31,778 hectares on the east half of NTS Sheet 66H14. The property covers 21 square kilometres of highly prospective Archean mafic volcanic rocks which were first identified on Geological Survey of Canada maps published in 2002. The property is 55 km north-northwest of Agnico Eagle's Amaruq Deposit, currently being prepared for production. Amaruq in turn is 54 km north-northwest of the Third Portage and Vault Deposits.
The Meadowbank and Vault Deposits at the Meadowbank Mine are hosted in a mixed succession of Archean metavolcanics and metasedimentary rocks whereas the Amaruq Deposit is hosted in Archean mafic and ultramafic rocks. For the complex as a whole, Agnico Eagle declared Proven and Probable Reserves as of December 31, 2017 of 24.771 Mt @ 3.40 g/t Aui. In the early 1990's, Comaplex Resources Ltd. discovered by prospecting the showings which became the Meadowbank, Vault and Amaruq Deposits.