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Providing coverage of Alaska and Northwest Canada's mineral industry
August 2016

Vol 21, No. 35 Week of August 28, 2016

Mining News: Northern Neighbors: Silver Range stakes two gold prospects in NWT

Silver Range Resources Ltd. Aug. 22 reported the staking of Hare and Sparta, two high-grade gold prospects in the Northwest Territories. The Hare property is located at the northern end of the Healey Lake Greenstone Belt, some 460 kilometers (285 miles) northeast of Yellowknife. This assemblage of mafic and felsic metavolcanics capped by metasediments was only recognized by the Geological Survey of Canada in the late 1970s and explored briefly by Kidd Creek Mines Ltd. in the early 1980s. Grab samples from an outcrop on the property returned values up to 104 ounces per ton gold. Kidd Creek also discovered several other lower grade showings on or near the property Thumper, Cottontail, Bunny, Lapin, Rock which returned gold assays of around one gram per metric ton gold. The Sparta Property is located 81 kilometers (50 miles) northeast of Yellowknife and 16 kilometers (10 miles) from a winter road connecting Tibbet Lake and Contwoyto. The principal showings on the property include the Gab and Sparta veins. The Gab vein hosts a small historic resource, not compliant with National Instrument 43-101, of 30,000 tons grading 0.31 oz. /t gold. This was defined by Treminco Ltd. from shallow drilling along a 75-meter section of the vein to a depth of 25 meters. At the Sparta Vein, the southern limb was drill tested over a strike length of 230 meters and to a maximum depth of 40 meters returning intersections up to 141.49 g/t gold over one meter. The Sparta Vein was thought to extend to the Tinker showing, located 150 meters north of the northern limb of the Sparta vein.

-Shane Lasley






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