Mining Explorers 2012: Silver Range Resources Ltd.
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Last updated 11/11/2012 at Noon
SNG: TSX-V
President and CEO: W. Douglas Eaton, B.A., B.Sc.
Chairman: Bruce A. Youngman, B.Sc.
Chief Operating Officer: Ian J. Talbot, B.Sc., LLB.
Silver Range Resources Ltd., a 2011 spin-out from Strategic Metals Ltd., is exploring bulk tonnage targets at the silver-enriched Silver Range Project located 10-40 kilometers (6-25 miles) north of Faro in southern Yukon Territory and gold-rich Mint Project located 26 kilometers (16 miles) south of the Alaska Highway in southwest Yukon.
Aggressive follow-up work programs were carried out at both projects in 2012, with budgeted expenditures of about C$9 million at Silver Range and C$1 million at Mint.
The 2012 exploration programs used at least four drills to complete at least 16,000 meters of drilling at a total phase one cost of $10.2 million.
At 1,100-square-kilometer (424.6 square miles) Silver Range, the company focused on its 2011 Hammer Zone discovery and other high-grade silver-gold showings within the 17-kilometer- (10.5 miles) long Mount Mye Trend.
In early August, Silver Range reported bonanza-grade intercepts in the silver-rich epithermal vein system at Hammer, including 4,620 grams per metric ton silver (134.8 ounces per ton) over 0.53 meters in sulphide mineralization and 1,590 g/t silver (46.4 oz/t) over 0.70 meters in oxide mineralization.
Expansion drilling was completed at the Keg Main Zone, where bulk-tonnage, silver-polymetallic mineralization has been outlined along an 850-meter strike length and to vertical depths of 350 meters.
The company also aimed to advance multiple additional targets for high-grade or bulk-tonnage silver mineralization to drill readiness by systematic surface exploration.
The project hosts 17 silver-bearing mineralization zones, plus 15 discrete soil geochemical anomalies that await follow-up prospecting, mapping and sampling.
At the 50-square-kilometer (19 square miles) Mint Project, a first-ever drilling program tested gold-copper porphyry mineralization associated with extensive soil geochemical and coincident IP chargeability/magnetic anomalies.
Cash and short-term deposits: C$16.42 million (at June 30, 2012)
Working capital: C$13.35 million (at June 30, 2012)
Market capitalization: C$23.23 million (Sept. 4, 2012)
Suite 1016 - 510 West Hastings Street
Vancouver, B.C. Canada V6B 1L8
Tel: 604-688-2568 Fax: 604-688-2578
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