-- Silver Range Resources (SNG.V) on Tuesday said it expanded the Drum project located in central Utah, from 7 to 37 Federal Lode Claims by staking in the month of March.
The company said the new claims cover the Rattler Breccia and other showings to the south of the core occurrences. It also purchased historical geological, geochemical, geophysical and drill data covering previous work on the property by Gold Fields Exploration, Newmont Mining, Renaissance Gold and Troymet Exploration.
The company said the data purchased is being compiled and analyzed to prepare for further project exploration later in the year. It said gold mineralization on the property is hosted in widespread jasperoid replacements and breccias developed in Cambrian Orr Formation limestone.
The setting and style of mineralization and the geochemical signature of mineralization, it added, is similar to those found in Carlin deposits to the west in Nevada.
Shares of the company closed down 8.8% to $0.155 on Monday on the TSX Venture Exchange.