Silver Range Resources Ltd.

TSX.V:SNG $

Yuge

  • Under option to Trifecta Gold Ltd (see news release dated February 28, 2018)
  • Located in Humboldt County, northern Nevada.
  • Road accessible and has power and telephone lines running through the property.
  • Covers the Columbia and Juanita historical mines.
  • Widespread high-grade gold.
  • Only 3 drill holes known to have been completed to date.
  • Surface rock samples grading up to 150 g/t gold.
  • Discovered from data mining a newly acquired proprietary database.

The Yuge property is located in Humboldt County, northern Nevada, approximately 55 km south of Denio in the Varyville Mining District. The property covers the historical Columbia and Juanita Mines, which produced high-grade gold on a small scale between 1870 and 1937, from strong veins located more than 1,000 m apart within the same structural corridor. Previous mining only extended down to the bottom of the oxidized zone, ignoring deeper sulphide material. Diamond drilling by previous operators below the Columbia workings produced a true-width sulphide intersect, grading 9.70 g/t gold over 3.3 m, starting 49 m below surface.

An initial reconnaissance program managed by Silver Range in late April and early May 2018 focused on three zones – Columbia, Juanita and Josie. A total of 68 rock geochemical samples were collected during the program; 35 of the 68 rock and/or chip samples collected returned greater than 1 g/t gold. Highlights include:

  • Columbia – 150, 75.4, 34.9, 10.5, 7.4, and 7.13 g/t gold
  • Juanita – 11.4, 6.35, and 5.85 g/t gold
  • Josie – 86.1, 45.2, 42.2, 36.2, 25.7, 21.6, 16.7, 13.1, and 5.49 g/t gold

Gold mineralization occurs with sulphides (arsenopyrite and pyrite) or their weathered products (scorodite and iron oxides). Only minor amounts of quartz or silica accompany the mineralization. The veins are found in fault/shear zones that cut andesites, andesitic epiclastics and diorites, but seem to be best developed within and on the margins of mapped diorite intrusions.

The Josie target is a large area located south of Juanita that contains scattered historical diggings, which Trifecta is evaluating for its bulk tonnage potential. Mineralization at the Josie target was collected over a 500 m long by up to 200 m wide area, from structures that trend oblique to the Columbia/Juanita system. Most samples at Josie were taken from vein exposures or float, but a 2 m chip sample, mapped as weathered ‘andesite’ with minor iron oxide, contained 1.84 g/t gold. Vein exposures in partially collapsed trenches graded up to 45.2 g/t gold over 0.35 m and 42.2 g/t gold over 0.4 m. The limits of the Josie target have not been defined.

At Columbia, multiple rock samples grading greater than 5 g/t gold were collected from a series of trenches over a strike length of 65 m. Soil samples were collected on a test line over an undisturbed section of the Columbia Vein to determine the effectiveness of soil sampling on the property. Peak values were 7.2 g/t gold-in-soil, 6.18 g/t silver-in-soil and 8050 ppm arsenic-in-soil.

Results from the initial program indicate that gold mineralization at Yuge is more widespread than documented in the limited historical data and may occur in hitherto undocumented structural settings. Further work will include a program of geological mapping focused on structure, additional prospecting, systematic soil sampling, and alteration (Short-Wave Infrared) mapping, followed by trenching and geophysical surveys to define drill targets.

This summary is based on historical data cited reports by Homestake Mining Company, Westamerica Enterprises. and Extension Energy Inc. This data has not been independently verified by Silver Range but has been checked for internal consistency and against Nevada Bureau of Mines and U.S. Bureau of Mines public domain data.
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