Silver Range Options the Cold Springs Project to VOLT Energy Corp.
Suite 1016 – 510 West Hastings Street
Vancouver, B.C. V6B 1L8
Tel: 604-687-2522
www.silverrangeresources.com
TSX-V: SNG
SILVER RANGE OPTIONS THE COLD SPRINGS PROJECT TO VOLT ENERGY
CORP.
August 17, 2020 – Silver Range Resources Ltd. (TSX-V:SNG) (“Silver Range”) is pleased to
announce that it has signed a Letter of Intent with Volt Energy Corp. (TSX-V:VOLT) (“Volt”) to
allow Volt to option the drill-ready Cold Springs Project.
Cold Springs is a low sulphidation epithermal prospect approximately 80 km east of Fallon on
Highway 50 in Churchill County, NV. High grade gold and silver mineralization occurs in four
major gently west -dipping quartz chalcedony veins exposed in the footwall of a west -dipping
range front (normal) fault. The veins are in a package of generally west -dipping rhyodacitic
crystal through lithic -crystal tuff, capped by a maroon lithic tuff breccia. Individual v eins are
exposed for up to 70 m in the scarp face and are up to 2.0 m wide. Ginguro bands and clots of
pyrite occur in colloform banded quartz-chalcedony veins with local bladed quartz-after-calcite
texture. Selected specimens of this material sampled by Silver Range have assayed up to 20.1
g/t Au and 1,770 g/t Ag. Best drill results from these veins were reported in an ASARCO drill
hole (CS83-03) which returned 3.05 m @ 4.25 g/t Au. (See Silver Range News Release dated
October 3 1, 2018 ). The vein mineralization cross-cuts a large envelope of pervasive quartz
flooding in the maroon lithic tuff. This earlier style of mineralization was thoroughly drill tested
by previous operators east of the vein exposures and averaged 0.113 g/t Au and 2.81 g/t Ag in 38
shallow drill holes.
The westward dip of the v eins and the altered maroon lithic tuff together with the results of
extensive historic drilling centered east of the vein exposures indicates that the source and centre
of the epithermal system lies beneath alluvium west of the exposed mineralization in t he down-
dropped hanging wall block. Shallow drill holes in the hanging wall near the fault trace
intersected the same maroon lithic tuff hosting mineralization in the footwall. A three -
dimensional induced polarization survey covering the favorable hangi ng wall stratigraphy west
of the range front fault located a large resistivity low at a depth of approximately 80 m beneath
covering alluvium. This feature is roughly 200 m west of the range front fault in an area which
has never been drill tested. The resistivity low is interpreted to be caused by argillic alteration in
the core of the epithermal system. The style of mineralization and exploration setting at Cold
Springs is similar to that of the Sleeper Deposit in Humboldt County.
Transaction terms
Volt can acquire a 75% interest in the Cold Project by paying Silver Range an aggregate of $300,000 in
cash and performing a minimum of 2,000 meters of drilling on the Property over a three -year period.
2
Silver Range will retain a 2.5% net smelter return that can be bought down to 1% for a cash payment of
$1,250,000. Volt and Silver Range have agreed to complete a Definitive Agreement prior to August 31,
2020.
Technical information in this news release has been approved by Mike Power, M.Sc., P.Geo.,
President and CEO of Silver Range Resources Ltd. and a Qualified Person for the purposes of
National Instrument 43-101.
Silver Range is a precious metals prospect ge nerator working in Nevada, Nunavut and the
Northwest Territories. Silver Range has a portfolio of 23 active projects in Nevada. In total, the
company has assembled a portfolio of 45 properties, 1 0 of which are currently optioned and
being explored by partners. Silver Range is actively seeking joint venture partners to explore the
high grade precious metal targets in its portfolio.
Additional information on Silver Range’s properties may be found o n the company’s website at
www.silverrangeresources.com.
ON BEHALF OF SILVER RANGE RESOURCES LTD.
“Mike Power”
President, C.E.O. & Director
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
http://www.silverrangeresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (a s that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
This news release may contain forward looking statements based on assumptions and judgments
of management regarding fu ture events or results that may prove to be inaccurate as a result of
exploration and other risk factors beyond its control, and actual results may differ materially
from the expected results.