Silver Range Drilling Continues to Extend and Delineate Keg Main Zone
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/18/12 -- Silver Range Resources Ltd. (TSX VENTURE: SNG)(TSX VENTURE: SNG.WT) ("Silver Range" or "the Company") is pleased to announce results from an additional 20 diamond drill holes located within the bulk-tonnage Keg Main Zone at its wholly owned Silver Range Project. The Keg Main Zone is one of 24 silver-bearing mineralized zones that have been identified to date at the 1,100 sq km Silver Range Project, located in an area of exceptional infrastructure near the town of Faro in southern Yukon. During the 1970s and 1980s, Faro was the site of the largest open-pit lead-zinc-silver mining operation in Canada, and at times the third largest zinc producer in the world.
Highlights:
-- Systematic grid drilling continues to expand and delineate bulk-tonnage
silver-rich polymetallic mineralization at the Keg Main Zone;
-- Extension of the Keg Main Zone to a strike length of 1,100 m and to
vertical depths of 375 m, remaining open for expansion in both strike
directions and to depth;
-- Drill results include 63.45 g/t silver together with significant lead-
zinc-copper-tin-indium values over 68.75 m (from 6.64 m core depth in
drill hole Keg-12-47); and
-- Encouraging results from initial drill testing of on-trend soil
geochemical anomalies 700 m to the east of the Keg Main Zone.
Significant assay intervals are shown in the table below, while maps showing drill hole locations and other information can be viewed at www.silverrangeresources.com. A total of 65 diamond drill holes (15,256 m) and 19 reverse circulation drill holes (1,105 m) were completed at the Silver Range Project during the 2012 program. Assay results are pending for 30 diamond drill holes, including 8 holes at the Keg Main Zone, 6 holes at the Hammer Zone and 16 holes from other high-grade and bulk tonnage targets throughout the project. Assay results are also pending for the reverse circulation drill holes, all of which tested the Rebel Zone. Additional drill results will be reported when received and compiled.
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From To Interval Ag Pb Zn Cu Sn In
Hole No. (m) (m) (m) (g/t) (%) (%) (%) (ppm) (ppm)
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KEG-12-42 155.00 257.00 102.00 17.01 0.19 0.23 0.04 231.1 0.67
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including 224.00 257.00 33.00 36.82 0.42 0.49 0.06 300.1 1.52
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KEG-12-43 305.00 313.85 8.85 21.40 0.33 1.35 0.081736.5 12.68
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KEG-12-45 345.00 411.00 66.00 11.94 0.12 0.58 0.10 239.5 2.85
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Including 345.00 366.00 21.00 19.06 0.33 1.02 0.12 285.6 4.79
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KEG-12-46 383.00 444.62 61.62 10.92 0.16 0.48 0.05 220.0 3.72
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including 422.00 444.62 22.62 20.93 0.38 0.77 0.07 418.3 4.06
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KEG-12-47 6.64 75.39 68.75 63.45 0.48 0.43 0.09 447.6 0.96
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including 11.00 39.70 28.70 131.59 0.95 0.77 0.15 651.1 1.70
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KEG-12-48 180.00 193.87 13.87 45.96 0.53 0.43 0.18 280.9 2.02
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and 277.16 318.35 41.19 48.81 1.04 1.16 0.12 316.6 4.70
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Including 277.16 302.08 24.92 76.98 1.68 1.87 0.19 479.6 7.59
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KEG-12-49 323.00 344.00 21.00 20.61 0.10 1.90 0.12 258.1 18.68
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KEG-12-50 457.00 489.95 32.95 16.82 0.09 0.53 0.03 285.3 9.56
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KEG-12-51 262.00 319.89 57.89 16.17 0.26 0.35 0.05 367.6 1.28
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Including 265.00 294.00 29.00 24.93 0.43 0.32 0.04 474.3 0.69
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KEG-12-52 281.83 290.00 8.17 56.76 2.07 1.24 0.06 101.7 3.77
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KEG-12-53 215.00 225.75 10.75 75.04 0.34 0.72 0.08 91.1 4.24
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KEG-12-55 20.00 68.00 48.00 10.68 0.22 0.14 0.02 333.2 0.32
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KEG-12-56 5.00 47.00 42.00 45.65 0.60 0.39 0.11 569.4 1.09
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KEG-12-57 110.00 122.00 12.00 14.47 0.27 0.13 0.01 137.8 0.26
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KEG-12-59 74.00 87.40 13.40 31.89 0.39 0.33 0.01 278.0 0.51
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- True widths estimated to be approximately 80-90% of intersected lengths.
- Tin (Sn) and indium (In) are potential by-product metals.
- Drill holes Keg-12-44, 54, and 60 returned no significant assays, while
drill holes Keg-12-61 and 64 were abandoned short of target.
- Results for drill holes Keg-12-58, 62, 63 and 65 to 69 are pending.
- Holes Keg 10-01 to Keg-11-41 were completed in 2010 and 2011 and were
previously announced.
The Keg Main Zone is a mixture of fracture filling and skarn/replacement mineralization hosted in clastic, cherty and carbonate-rich sedimentary rocks. Sulphide mineralization consists of varying amounts of sphalerite, galena, chalcopyrite, pyrrhotite, pyrite, arsenopyrite and stannite.
Systematic grid drilling at 100 m centres has successfully extended the Keg Main Zone 250 m further to the east-northeast. Noteworthy 2012 results include a number of silver-rich, near- surface intercepts, such as 63.45 g/t Ag over 68.75 m in drill hole Keg-12-47. The Keg Main mineralized zone has now been traced for a distance of 1,100 m across approximate true widths up to 250 m and to a maximum depth of 375 m. Mineralization remains open to extension in both directions along strike and to depth. Cross-sectional views indicate a favourable orientation of the mineralized zone relative to topography. The Keg Main Zone is broadly zoned, with proportionately more silver and lead in fracture-style mineralization within the near-surface northern parts of the drill area and a greater abundance of copper with iron sulphides in the deeper southwestern part of the zone.
A single step-out hole testing on-trend soil geochemical anomalies situated 700 m to the east of the Keg Main Zone returned encouraging mineralization in favourable host rocks, grading 31.89 g/t Ag, 0.39% Pb and 0.33% Zn over 13.4 m (drill hole Keg-12-059).
All analyses for the 2012 program are being performed by ALS Minerals with sample preparation in Whitehorse and assays and geochemical analyses in North Vancouver. Core samples are routinely analyzed for gold by fire assay followed by atomic absorption (Au-AA24) and 48 other elements by inductively coupled plasma-mass spectrometry (ME-MS61). Samples in mineralized intervals that exceed the detection limits of the routine methods are assayed for silver, lead and zinc by inductively coupled plasma-atomic emission spectroscopy (Ag/Pb/Zn - OG62).
Rigorous procedures are in place regarding sample collection, chain of custody and data entry. Certified assay standards, coarse reject duplicates, field duplicates and blanks are routinely inserted into the sample stream to ensure integrity of the assay process. All of the results reported have passed the QAQC screening.
Work at the Silver Range Project is being conducted by Archer, Cathro & Associates (1981) Limited. Matthew R. Dumala, P. Eng., has reviewed this news release and is the qualified person for purposes of National Instrument 43-101.
ON BEHALF OF THE BOARD
W. Douglas Eaton, President and Chief Executive Officer
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.
Contacts:
Silver Range Resources Ltd. - Corporate Information
W. Douglas Eaton
President and C.E.O.
(604) 688-2568
Silver Range Resources Ltd. - Corporate Information
Bruce A. Youngman
Chairman
(604) 687-2522
Silver Range Resources Ltd. - Investor Inquiries
Richard Drechsler
Corporate Communications
(604) 687-2522 or NA Toll-Free: (888) 688-2522
rdrechsler@silverrangeresources.com
www.silverrangeresources.com