Newrange Gold Provides Exploration Update for Pamlico Project
VANCOUVER, BRITISH COLUMBIA - TheNewswire - July 3, 2019 (TSXV: NRG, US: NRGOF, Frankfurt: X6C) - Newrange Gold Corp. ("Newrange" or the "Company") is pleased to provide an update on exploration activities for the balance of 2019 on the Pamlico Project in Nevada. Having recently completed a financing and being in the process of monetizing its Colombian assets, the Company will be in a good position to further advance the project.
Underground surveying, mapping and channel sampling are continuing, with a particular focus on the Gold Bar Mine, which lies between Good Hope and the Merritt Decline, where visible gold has been found in the historic dumps in front of the mine openings. New underground workings have been discovered, adding to the estimated 8,000 meters of underground development and the field crew is approximately 50% complete in their assessment of these areas. More than 1,000 samples have been taken to date and results are being compiled. In the Good Hope Mine, where the exposed part of the mineralized zone on the 5690 level yielded a weighted average of 13.89 grams gold per metric tonne (g/t Au) and 71.19 grams silver per metric tonne (g/t Ag) over 40 meters (see Newrange press release on May 14, 2019), two additional levels above this have been discovered and sampled. Assays are pending.
An Induced Polarization ("IP") geophysical survey is planned to cover Pamlico Ridge and the Pediment Area along strike to the northwest. The last outcrop at the edge of the Pediment Zone exhibits quartz veining that returned 4.7 g/t Au from a saw-cut channel sample. Despite the deep level of oxidation at Pamlico, the IP survey may be able to detect remnant sulphides in the rock, thereby identifying new drill targets at depth.
Applications to the State of Nevada will be submitted in Q3 for the permitting of operating underground mining equipment at the Merritt Decline. In conjunction, a mine plan for the rehabilitation of the decline in preparation for taking the 1,000 ton bulk sample will also be developed in anticipation of this work during Q4 of 2019. Discussions are underway with third parties that have the ability to process this material.
Surface mapping and sampling on other prospective targets on the district-scale property is continuing as gold-bearing rocks in different geological environments have been identified in previous reconnaissance work. Lab scale metallurgical tests will also be continued to provide further information on the excellent recoveries observed to date.
The Company intends to resume reverse circulation drilling at Pamlico Ridge as soon as practicable but the timing of this will depend largely upon the mapping and sampling of underground workings, to avoid drilling into the openings and better delineating mineralized drill targets.
Mr. Robert G. Carrington, P. Geo, a Qualified Person as defined by National Instrument 43-101, the President and Chairman of the Company, has reviewed, verified and approved for disclosure the technical information contained in this news release.
About Pamlico
Located 12 miles southeast of Hawthorne, Nevada, along US Highway 95, the project enjoys excellent access and infrastructure, a mild, year-round operating climate and strong political support from Mineral County, one of the most pro-mining counties in the pro-mining state of Nevada. The Pamlico project covers the historic Pamlico group of mines, as well as the nearby Good Hope, Gold Bar and Sunset mines.
Discovered in 1884, the district rapidly gained a reputation as being one of Nevada's highest-grade districts. Held by private interests for most of its history, the property remains underexplored in terms of modern exploration.
About Newrange Gold Corp.
Newrange is an aggressive exploration and development company focused on near to intermediate term production opportunities in favorable jurisdictions including Nevada, Colorado and Colombia. With numerous drill intercepts of near surface oxide gold mineralization to 340 grams gold per metric tonne the Company's flagship Pamlico Project is poised to become a significant new Nevada discovery. Focused on developing shareholder value through exploration and development of key projects, the Company is committed to building sustainable value for all stakeholders. Further information can be found on our website at www.newrangegold.com.
Signed: "Robert Archer"
CEO & Director
For further information contact:
Sharon Hebgin Dave Cross
Corporate Communications Chief Financial Officer and Corporate Secretary
Phone: 760-898-9129 Phone: 604-669-0868
Email: info@newrangegold.com Email: dcross@crossdavis.com
Website: www.newrangegold.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement:
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Newrange Gold Corp. Actual results may differ materially from those currently anticipated in such statements.
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