Silver Range Partner RUSH GOLD Maps Deep Hydrothermal System and Prepares FOR Drilling
Suite 510 – 110 Melville Street
Vancouver, B.C. V6E 4A6
Tel: 604-687-2522
www.silverrangeresources.com
TSX-V: SNG
SILVER RANGE PARTNER RUSH GOLD MAPS DEEP HYDROTHERMAL SYSTEM
AND PREPARES FOR DRILLING
January 16, 2023 – Silver Range Resources Ltd. (TSX-V:SNG) (“S ilver Range ” or the
“Company”) announces that partner Rush Gold Corp. (“Rush Gold”) has successfully completed
a geophysical survey at the Skylight Property, mapping the deeper reaches of a large low -
sulphidation epithermal system. Rush Gold Corp. optioned the Skylight Property from Silver
Range in 2020 (Silver Range News Release – August 31, 2020) and has applied for listing on the
Canadian Stock Exchange (CSE).
In November 2022, Rush Gold contracted Aurora Geosciences Ltd. (“Aurora”) to conduct an
extremely low frequency electromagnetic (ELF-EM) survey at the Skylight Property. The survey
covered 28 line -km (561 stations) over a grid centred on the sili ca caps in the heart of the
epithermal system. The ELF-EM system measures natural source magnetic field activity in three
orthogonal components at 11, 22, 45, 90, 180, 360, 720 and 1440 Hz. Quadrature and in-phase
components are extracted from vertical component measurements with reference to the horizontal
component. This dat a can be used to calculate a field tilt and apparent half -space resistivity for
each frequency. The system is a ground-based analog to Geotech Ltd.’s ZTEMTM system.
The collected data was inverted with the open-source SimPEG software package using 22, 45, 90,
180 and 360 Hz data, the excluded frequencies being rejected as too noisy. Final inversion results
were ge nerated from a starting conductivity model of 0.010 S (100 ohm -m) which closely
correlated with bedrock resistivity inversion results from a prior IP survey. The depth of
penetration of the survey is approximately 1100 m based on skin -depth or to elevations of 700 m
above sea level (ASL) beneath topography up to 1850 m ASL. The inversion mapped a zone of
high resistivity (> 500 ohm-m) beneath and east of the silica caps which are the surface expression
of the hydrothermal system. This feature is interpre ted to be a zone of silica deposition and
alteration at depth, potentially the deeper portion of the hydrothermal system. The position this
feature and the interpreted geometries of near-surface chargeability anomalies associated with gold
pathfinder elem ents corroborate each other. A proposed drill program has been designed to
explore the full extent of this system.
A short presentation describing the results of this work may be found here.
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Skylight Property
Skylight is a low sulphidation epithermal prospect, located 60 kilometres northwest of Tonopah in
the Royston Hills , Nye County . Exploration work to date indicates that Skylight is a fully
preserved, precious metal bearing epithermal system, the heart of which has never been drill tested.
Skylight drew no attention from early prospectors due to the lack of readily exposed gold or silver
mineralization but was recognized as a significant target in the early 2000’s by Rimfire Minerals
Corporation and Newmont Mining Corp. At the conclusion of their joint venture in 2007, Rimfire
drilled 6 holes (1575 metres) on the flanks of the silica caps at Skylight. ( Rimfire Minerals
Corporation News Release – November 6, 2007). Intercepts were reported from three holes: 10.67
m @ 0.49 g/t Au; 3.05 m @ 1.766 g/t Au; and 3.05 m @ 0.608 g/t Au. This work was never
followed up and the core of the system beneath the silica caps was never drill tested.
Skylight is underlain by Oligocene ash-flow tuffs unconformably overlying Triassic Luning
Formation carbonates and clastics. These rocks are cut by northwest-trending right lateral strike-
slip faults and by subordinate north-striking steeply-dipping secondary normal faults splayed from
the master faults. Skylight is centred on vent-proximal silica breccia and thinly laminated ponded
silica indicating deposition at the very top of a hydrothermal c ell in an epithermal outflow zone.
The silica centres form several resistant hills extending approximately 800 m. Anomalous soil and
rock geochemical responses in mercury, gold, silver and arsenic are associated with the silica.
Silver Range conducted a three-dimensional induced polarization (3DIP) survey over a grid
centred on the silica caps at Skylight in 2017. The survey defined a network of chargeability
linears, collectively forming a network with a nexus centred beneath the region of the silica c aps.
Elevated gold, silver and arsenic values are directly associated with several of these linear
chargeability anomalies. These linears are interpreted to be conduits feeding the hydrothermal
system and may host high-grade vein-hosted precious metal mineralization.
The geophysical survey described in this news release was conducted by Aurora Geosciences Ltd.
under the supervision of Franz Dziuba P.Geoph. who conducted the data inversion and
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interpretation. Other technical information in this news release has been approved by Mike Power,
M.Sc., CPG., President and CEO of Silver Range Resources Ltd. Both are Qualified Persons for the
purposes of National Instrument 43-101.
Silver Range is a precious metals prospect generator working in Nevada and Northern Canada. It
has assembled a portfolio of 45 properties, of which 13 are currently under option to others. Four
other properties have been converted to royalty interests. Silver Range is actively seeking other
joint venture partners to explore the high-grade precious metals targets in its portfolio.
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 (as 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 future 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.