Extensive Gold Soil Geochemical Anomaly Defined At Loner Property

VANCOUVER – Silver Range Resources Ltd. reported results from recently completed geophysical and geochemical surveys at its high-grade Loner Property in Pershing County, Nevada. The Loner Property is located 35 km south of Winnemucca in the southern Sonoma Range and currently consists of 16 Federal Lode Claims covering historic workings and exposed low-sulphidation gold mineralization. Bedrock grab sampling to date has returned a peak value of 16.6 g/t Au while chip sampling in old workings assayed up to 25.7 g/t Au over 1.83 m. (Silver Range news release dated October 30, 2018) Prospecting during 2020 identified additional workings on the expanded claim block, returning grab samples up to 10.6 g/t Au.

A soil geochemical survey was completed over an 1100 x 400 m grid centered on the historic workings and exposed mineralization. The survey identified a strong gold-in-soil anomaly with associated arsenic response, which extends to the edge of the grid in three directions. Principle component analysis (PCA) of the soil response indicates that bedrock gold mineralization at Loner is associated with a PCA factor defined by key low-sulphidation epithermal deposit pathfinder elements (Au, Hg, Sb and As).

Horizontal loop electromagnetic field and total magnetic field surveys were conducted over the soil grid. These identified a series of steeply-dipping bedrock conductors, associated with the exposed mineralization and with second-order total magnetic field lows.

Additional work is planned. The existing soil grid will be expanded to define the limits of the extensive gold geochemical anomaly. In addition, the Company intends to conduct trenching to determine the width and character of the vein arrays at the historic workings and to investigate the source of discrete peripheral gold and arsenic anomalies in overburden covered areas.