Silver Range Resources Ltd. (TSX-V:SNG) (“Silver Range”) announces that Rush Gold Corp. (CSE:RGN) (“Rush Gold”) has been listed for trading on the Canadian Stock Exchange and intends to begin exploration on the Skylight Property (“Skylight”) (See Rush Gold Corp. news release dated June 20, 2025).
The Skylight Property is centred on a low sulphidation hydrothermal cell in the Royston Hills, Nye County, Nevada. At Skylight, the hydrothermal system is fully preserved with silica caps forming resistant low hills in the centre of the property. These caps consist of quartz-chalcedony breccia and rare laminated silica suggesting that Skylight is vent-proximal and likely centred on an outflow zone. Low sulphidation epithermal deposit models predict precious metal deposition beneath outflow zones where thermodynamic conditions favour fluid boiling and dumping of precious metals from solution.
Three-dimensional induced polarization surveys conducted by Silver Range in 2017 defined a series of linear chargeability anomalies beneath the silica caps which are congruent with other second order structures exposed in this section of the Walker Lane. Above these linear features, soil geochemical responses are elevated in elements associated with precious metal bearing low sulphidation epithermal systems including mercury, gold, silver and arsenic. Silver Range believes these geophysical and geochemical anomalies indicate the location of feeder structures beneath the silica caps. These are primary drill targets on the property.
With respect to the high level of preservation, the Skylight target closely resembles the 16-million-ounce Silicon and Merlin gold discoveries near Beatty, southeast of Skylight along the Walker Lane. The centre of the Skylight hydrothermal system has not been drill-tested but 2007 drilling by Newmont and Rimfire Metals on the periphery of the system returned several gold intersections with best results of 10.67 m @ 0.49 g/t Au. This strongly suggests that the hydrothermal system at Skylight is gold-bearing in contrast to many similar fully-preserved but barren low sulphidation targets along the Walker Lane.
More information on the Skylight Property may be found on Silver Range’s website at https://silverrangeresources.com/projects/southwest-us/under-option/skylight/.
Rush Gold may obtain a 100% interest in the Skylight Property by completing 3,000 m of drilling; by paying $310,000 to Silver Range; and by issuing 680,000 shares to Silver Range over a three-year term. Silver Range will retain a 3% net smelter return and is entitled to receive milestone payments following definition of resources on the property.
Technical information in this news release has been approved by Mike Power, M.Sc., CPG, President and CEO of Silver Range Resources Ltd. and a Qualified Person for the purposes of National Instrument 43-101.
ON BEHALF OF SILVER RANGE RESOURCES LTD.
“Mike Power”
President, C.E.O. & Director
About Rush Gold Corp.
Rush Gold is a Canadian mining exploration company focused on advancing its Skylight gold property, located in the Republic Mining District, Nye County, Nevada, in the USA. Rush Gold also holds an option on the Legal Tender property, a historic silver-gold project located 62 kilometers northwest of Tonopah, Nevada.
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Forward-Looking Statements
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward-looking statements, including statements respecting the potential for delineation of mineralized zones by surface drilling; the Company’s belief regarding the nature of the hydrothermal system at Skylight; the expected outcomes of the combined satellite and rock sample study; the anticipated release of the comprehensive review and integration of surface rock and satellite alteration targets; the Company’s plans for drill permitting; the Company’s plans for its Skylight and Legal Tender properties; the Offering and the intended use of proceeds therefrom; and the vesting terms of the stock options issuable to Momentum PR. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
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