Silver Range Resources (SNG.V) has confirmed the existence of gold mineralization at its Strongbox god project in Nevada. The project consists of a system of gold veins and although there has been some small-scale mining throughout the decades in the past 150 years, it looks like the property has never been drilled.
SNG has collected and assayed 42 samples, of which 16 (40%) returned grades of well over 1 g/t gold with nine samples containing in excess of 5 g/t gold with a peak value of almost 18.7 g/t gold which was taken from a dump from vein mining.
As there’s a renewed interest in gold properties in safe regions, Silver Range’s business model as a prospect generator will (hopefully) result in more deals coming to fruition. And of course, SNG isn’t just working on the Strongbox property, the company is also wrapping up a $350,000 drill program at the Up Town gold project adjoining the Giant mine in Yellowknife, just a few kilometers away from TerraX Minerals’ (TXR.V) Yellowknife City gold project.
Silver Range is also still expanding its project portfolio as it also signed a letter of intent with GGL Resources to acquire the Providence Greenstone belt, located approximately 250 kilometers northeast of Yellowknife. The belt is approximately 140 kilometers long and 10-30 kilometers wide, with three drill-ready gold targets. The project optioned by Silver Range covers approximately 40% of the greenstone belt and almost all of the gold showings.