22 August 2016
August 22, 2016 - Silver Range Resources Ltd. (TSX-V:SNG) ("Silver Range") announces that it has staked two high grade gold prospects in the Northwest Territories.
The Hare Property is located on NTS sheet 76B02, 460 km NE of Yellowknife at the northern end of the Healey Lake Greenstone Belt. This assemblage of mafic and felsic metavolcanics capped by metasediments was only recognized by the Geological Survey of Canada in the late 1970’s and was explored briefly by Kidd Creek Mines Ltd. in the early 1980’s. The principal showing on the property occurs in amphibolite-grade mafic and intermediate metavolcanics near the contact with overlying metamorphosed turbidites. Kidd Creek reported gold grains up to 2 mm long in sheared meta-arenites with minor pyrrhotite and pyrite and grab samples returning values up to 104 ounces per ton (OPT) Au (3,565 g/t Au) from a small area of outcrop about 20 m in diameter. Kidd Creek also discovered several other lower grade showings on or near the property (Thumper, Cottontail, Bunny, Lapin, Rock) which returned gold assays of around 1 g/t Au.