12 July 2016
July 12, 2016 - Silver Range Resources Ltd. (TSX-V:SNG) ("Silver Range") has begun an exploration program at the Up Town Gold Project near Yellowknife, NWT.
The Up Town Gold Project consists of 6 claims (3,267 hectares) approximately 5 km from downtown Yellowknife. The property covers eight gold prospects in granitoid rocks, adjacent to the Giant Mine which produced 7.1 million ounces of gold at an average grade of 15.5 g/t Au from 1948 to 1999. Mineralization at Up Town Gold was discovered and briefly explored during the early 1960’s. Three showings were drilled to shallow depths (<60 m) but no deeper drilling was completed despite favourable results. At two of these showings (Rod and 22 Vein), small high grade resources greater than 1 ounce per ton gold were partially mined. The property was restaked in 2011 and explored with a few shallow drill holes in 2013 and 2015. Best recent drill results were 2.22 m @ 27.47 g/t Au (from 15.6 m) at the Rod Showing and 4.14 m @ 2.62 g/t Au (from 12.8 m) at the Fox South Showing. Exposed mineralization in workings at the Rod Showing returned promising results including a channel sample of 1.20 m @ 17.27 g/t Au and a selected grab sample of vein material that ran 415 g/t Au.