High Grade Silver And Gold Sampled At New Bellehelen Project

VANCOUVER - Silver Range Resources Ltd. reported results from a new project in central Nevada. The Company has consolidated and expanded its property holdings in the Bellehelen Mining District into the Bellehelen Project. Between August and October, it completed an exploration program covering the expanded project area. Highlights from the 2020 work program include: High grade gold and silver grab samples to 1,490 g/t Ag and 11.25 g/t Au; Soil geochemical surveys located anomalies associated with and extending known mineralization; Ground geophysical surveys fingerprinted the total magnetic field and electromagnetic responses associated with known vein systems; and An airborne total magnetic field and radiometric survey completed over the entire mining district defined the structural architecture and an intriguing large conceptual target.

The Bellehelen Project s located in the Kawich Range, approximately 70 km east of Tonopah in northern Nye County. Silver and gold were discovered in the Bellehelen Mining District around 1904. The area saw limited production from 1909 to 1927 and sporadic production during the 1930s. Mineralization in the Bellehelen district is low-sulphidation in character, hosted in secondary east-west striking secondary normal faults within the regional scale northwest-striking Bellehelen Fault Zone, a component of the larger Kawich-Toiyabe Lineament. The project area is entirely underlain by rhyolitic ash flow tuff and megabreccia (crater collapse) deposits of earliest Miocene age. Mineralization likely occurred following crater-collapse driven by hydrothermal circulation along master faults in the Bellehelen Fault Zone.

In October, Precision Geosurveys Inc. completed an airborne total magnetic field and radiometric survey over the district. The total magnetic field response defined a series of low relief magnetic field lows, two of which are associated with the principle mineralized showings in the district. The structural grain of the district was well defined and suggests that there may be large, prospective, untested targets in the project area. Radiometric results are pending.