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Silver Range Resources finds diamonds and gold at the Tree River Conglomerate area in Nunavut

The firm is designing a program to systematically test the gold and newly discovered diamond potential of the Tree River Conglomerate

Silver Range Resources Ltd. -
Three diamonds were take from the basal unit of the TRC from an area with “abundant” pyrite and anomalous to high-grade gold

Silver Range Resources Ltd (CVE:SNG) unveiled “surprising” results from research conducted at the Tree River Conglomerate (TRC) on the project generator’s Tree River property in Nunavut.

Field research conducted by a team from the University of Alberta in 2018 recovered three diamonds from the basal unit of the TRC, which contains “abundant” pyrite and is anomalous to high-grade gold, the firm said in a statement.

In April 2020, Silver Range collected two panel samples of the TRC that returned assay results of 36.3 grams per ton (g/t) gold from the Main Zone and 0.3 g/t from the West Zone, suggesting that the gold in the TRC basal zone is syngenetic in origin, according to the company.

READ: Silver Range Resources finalizes Cold Springs option deal and updates on Nevada exploration

During the same program, Silver Range collected a sample from TRC for zircon analysis that dated the deposit’s origins to the “Great Gold Deposition Event,” which is associated with the first organic production of oxygen and fixing of soluble gold and, importantly, similar to deposits in the famed Witwatersrand and Pilbara regions in South Africa and Australia, respectively.

“In light of these remarkable results, Silver Range is designing a program to systematically test the gold and newly discovered diamond potential of the Tree River Conglomerate,” the company told shareholders in a statement.

“As a precursor, the company has a submitted an Expression of Interest to Nunavut Tunngavik Inc to obtain the mineral rights to explore IOL Parcel CO-69. The Tree River Conglomerate is very resistive and well exposed; as a consequence, it might be rapidly explored with surface sampling.”

Vancouver-based Silver Range is a precious metals prospect generator working in Nevada and Northern Canada with a portfolio of 43 properties, 11 of which are currently under option.

Contact Angela at angela@proactiveinvestors.com

Follow her on Twitter @AHarmantas

Quick facts: Silver Range Resources Ltd.

Price: 0.185 CAD

TSX-V:SNG
Market: TSX-V
Market Cap: $15.17 m
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