Silver Range Resources (TSXV: SNG) (“Silver Range”) announces that it has entered into a property purchase agreement (“Agreement”) with Benz Mining Corp.(“Benz”) under which Benz will purchase the Mel zinc-lead-barite property.
The Mel property is located within a belt of important sedimentary exhalative zinc-lead deposits, which includes the Howard’s Pass deposits of Chihong Canada Mining., the Tom and Jason deposits of HudBay Minerals, the Cirque deposit of Teck Resources/Korea Zinc, and the Akie deposit of Canada Zinc Metals. The Mel property is situated 80 km east of Watson Lake and 40 km north of the Alaska Highway in southeastern Yukon Territory. The property consists of 538 mineral claims.
As quoted in the press release:
The Mel Main Zone hosts an inferred resource of 5.38 million tonnes grading 6.45% zinc, 1.85% lead and 44.79% barite (BaSO4), at a cut-off grade of 5.0% zinc-equivalent. Mineralization at the Main Mel Zone consists of coarse-grained sphalerite and galena disseminated throughout a mixture of mudstone, silica-carbonate and coarsely crystalline barite. Details related to the inferred resource are available in a NI 43-101 report prepared for Silver Range and authored by Giroux Consultants Ltd. and H. Leo King. P. Geo., dated November 12, 2014 and filed on SEDAR.