Silver Range Resources CEO Mike Power joined Steve Darling from Proactive to discuss encouraging exploration results from the company's East Goldfield Project in Nye County, Nevada, where recent sampling has identified new gold-bearing targets ahead of deeper drilling.
Power said the company completed a three-phase sampling program using portable diamond drills to evaluate several prospective high-sulphidation feeder structures. The objective was to determine the extent and nature of near-surface gold mineralization previously identified through surface chip and grab sampling.
Results showed that two of the three mineralized ledges tested are auriferous and warrant further exploration. Historical work suggests that much of the property's significant gold mineralization is likely blind, with gold-bearing structures at surface serving as indicators of larger mineralized systems at depth.
At the Tom Keane Mine target, previous drilling has outlined a prospective zone at an average depth of 100 metres, while surface samples from nearby structures returned gold values ranging from trace amounts up to 3 g/t gold. The newly identified auriferous ledges are located approximately 1 to 1.1 kilometres northwest of the Tom Keane target.
To further refine drill targets, Silver Range has also commissioned Big Sky Geophysics to conduct a 60-kilometre three-dimensional induced polarization (3DIP) and resistivity survey covering the entire property. The survey is designed to detect mineralized targets to depths of at least 500 metres and is expected to continue through the end of August.
Management believes the combination of encouraging surface results and the ongoing geophysical survey will help define priority drill targets as exploration advances across the East Goldfield property.
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