Silver Range eyes deeper gold potential at East Goldfield - ICYMI

Silver Range Resources Ltd (TSX-V:SNG, OTC:SLRRF, FRA:8SR) earlier this week outlined encouraging early-stage gold indications from its East Goldfield project in central Nevada and detailed plans for a substantial geophysical programme intended to define deeper drill targets.

The company had used small, man-portable drills to test the upper portions of three interpreted feeder structures. Two of the feeders returned encouraging indications, while the third did not.

A result of approximately 1.83 grams per tonne gold was noted, with the short drill holes not representing true widths and being designed primarily to establish whether gold was present in the upper parts of the structures. The presence of gold near surface was significant because the company believed that stronger mineralisation could occur farther down the interpreted feeder structures.

The structures were described as comparable to chimneys or tailpipes within the mineralised system. The fact that they’ve got it at surface is really promising because that’s not where you expect to find the high grade.

Silver Range Resources has worked at East Goldfield for approximately 10 years. Recent geological mapping, supported by aeromagnetic and radiometric survey data, had improved the company’s understanding of the project. Potential catalysts include the receipt of access permits, the start of fieldwork and completion of the survey.