Silver Range begins fall exploration at East Goldfield

Executive Summary

• Silver Range Resources Ltd. has commenced an airborne geophysical survey and surface exploration program at its East Goldfield property in Nevada.
• Precision Geosurveys Inc. has been contracted to fly 269 line kilometres of magnetic and radiometric data to map volcanic stratigraphy.
• Surface sampling identified a promising five-metre exposure of grey vuggy quartz with disseminated pyrite; assay results are pending, with shallow diamond drilling scheduled to begin in November.

Key Details

• Airborne Survey:
  • Contractor: Precision Geosurveys Inc. (Reno, Nev., and Langley, B.C.).
  • Scope: Total magnetic field and radiometric survey.
  • Volume: 269 line kilometres.
  • Specifications: Lines spaced 50 metres apart, flown 30 metres above ground level.
  • Purpose: Mapping complex, highly altered volcanic stratigraphy.
• Surface Exploration:
  • Completed sampling of five targets south of the central hydrothermal alteration zone.
  • Key Discovery: A five-metre exposure of grey vuggy quartz with noteworthy disseminated pyrite located 380 metres east-northeast of the Tom Keane mine shaft.
  • Status: Assay results are pending.
  • Next Steps: Small-diameter, shallow diamond drilling using man-portable lightweight drills is scheduled to begin in November.
• Historical Context & Exploration Target:
  • Location: 14 km east of Goldfield, Nev.
  • Historic Workings: Tom Keane mine (500-foot inclined shaft, 2,860 feet of underground drifts on four levels).
  • Historic Assays: 1934 report cited 11.6 metres at 2.88 g/t Au (219 level) and 3.04 metres at 4.11 g/t Au (319 level).
  • Defined Exploration Target (based on 26 drill holes):
    • Volume: 2.26 million to 6.60 million tonnes.
    • Grade: 0.34 to 0.62 g/t gold.
    • Contained Gold: 55,000 to 72,500 ounces.
    • Area: Approximately 800 m by 200 m, including the Tom Keane mine.

Notable Quotes

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