Silver Range Resources (TSX-V:SNG) (“Silver Range”) is pleased to announce that it has been awarded prospecting permits covering an Archean conglomerate-hosted (Pilbara style) high grade gold target in Nunavut with historical grab samples up to 142 g/t gold.
Mineralization at the Tree River property is similar in age, setting and style to gold mineralization recently discovered by Novo Resources in the Pilbara district of Australia:
- Gold is hosted in a regionally extensive shallow marine conglomerate.
- The host conglomerate is dated between 2,940 and 2,700 Ma based on detrital zircons in proximal sediments, placing it in the favourable time window for the “Great Gold Deposition Event” (Q. Hennigh, 2016).
- Pods of high grade gold mineralization are present within a much larger envelope of lower grade material.
- Carbonaceous seams parallel to bedding are locally abundant.
- Pyrite is abundant and a significant proportion is reported to be rounded and detrital in origin.