ACCESSWIRE
05 Nov 2019, 03:01 GMT+10
VANCOUVER, BC / ACCESSWIRE / November 4, 2019 / Silver Range Resources Ltd. (TSXV:SNG) ('Silver Range') announces that an option granted to Benz Mining Corp ('Benz') in March of 2017 to acquire a 100% interest in the Mel property was terminated effective October 28, 2019. The option was terminated after Benz failed to make certain staged option payments.
The Mel property is an advanced stage Sedex style zinc-lead project favorably located in southern Yukon 80 km east of the community of Watson Lake and 440 km north along the Alaska Highway from the railhead at Ft. Nelson, BC. The property and hosts four known mineralized zones, the most advanced of which, the Mel Main Zone, hosts an inferred resource of 5.38 million tonnes grading 6.45% zinc, 1.85% lead and 44.79% barite (BaSO4), at a cut-off grade of 5.0% zinc-equivalent.
Drilling and trenching by Benz in 2017 successfully expanded known mineralization at the Mel Main Zone and demonstrated the favorable horizon remains open in all directions. Drilling at the southern end of the deposit intersected 1.34 m grading 14.15% zinc and 4.17% lead in hole MEL-17-51, while trenching to the north encountered 5.9 m grading 9.53% zinc, 0.95% lead and 57.52% barite in trench MTR-17-001 (50 m from current resource). Infill drilling confirmed the character of known mineralization with hole MEL-17-058 returning 8.45% zinc, 0.26% lead and 65.99% barite over 22.49 m. The Mel property is permitted for drilling and available for option.
Silver Range also reports that 389,483 shares at a price of $0.0909/share were issued to Michael Power, the Silver Range President as partial payment for geological consulting services provided to the company for the period April 1 through September 30, 2019.
Technical information in this news release has been approved by Matthew R. Dumala, P.Eng., a geological engineer with Archer Cathro & Associates (1981) Limited and a qualified person for the purpose of National Instrument 43-101.
About Silver Range Resources Ltd.
Silver Range is a high grade focused precious metals prospect generator working in Nevada and Northern Canada. It has assembled a portfolio of 42 properties, 12 of which are currently optioned to others. Silver Range is actively evaluating new prospects while seeking joint venture partners to explore the high precious metal targets in its portfolio.
ON BEHALF OF SILVER RANGE RESOURCES LTD.
'Ian J. Talbot'
Chief Operating Officer
For further information concerning Silver Range or its exploration projects please contact:
Investor Inquiries
Richard Drechsler
Vice-President, Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
rdrechsler@silverrangeresources.com
http://www.silverrangeresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Silver Range Resources Ltd.
Get a daily dose of Miami Mirror news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Miami Mirror.
More InformationSYDNEY, NSW, Australia - The Australian metropolitan commercial radio audience grew by 2% to nearly 11.1 million listeners in 2020, ...
NEW YORK, New York - According to futures trading, U.S. stocks are likely to sink further when they re-open on ...
WASHINGTON, DC - Tech giant, Apple might finally be getting rid of Touch Bar from its next rendition of the ...
SYDNEY, NSW, Australia - Stocks in mainland China and Hong Kong advanced on Monday on news that the world's second-largest ...
A U.S. businessman, a giant in the pharmaceutical industry, is to be jailed for eighteen years and will have to ...
DUBLIN, Ireland - A major increase in the export of medical and pharmaceutical products has boosted Ireland's balance of trade. ...
KABUL, Afghanistan - Major violence has spread, and escalated across Afghanistan.Scores of national security forces and Taliban militants have been ...
JERUSALEM - Israeli authorities should provide Covid-19 vaccines to the more than 4.5 million Palestinians in the occupied West Bank ...
WASHINGTON, DC - Washington is locked down and U.S. law enforcement officials are geared up for pro-Trump marches in all ...
WASHINGTON, DC - In a sign of the changing political environment in the Middle East, the United States military will ...
WASHINGTON, DC - Outgoing U.S. President Donald Trump's administration carried out its last federal execution when Dustin John Higgs, convicted ...
A Chinese government survey ship was intercepted "running dark" without broadcasting its position via AIS (Automated Identification System) by Indonesian ...