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TSXV: PINN
News
NEWRANGE GOLD PROVIDES EXPLORATION UPDATE
VANCOUVER, BRITISH COLUMBIA, April 30, 2020 (TSXV: NRG, US: NRGOF, Frankfurt: X6C) – Newrange Gold Corp. (“Newrange” or the “Company”) is pleased to provide an update on exploration activities at the Pamlico Project in Nevada and North Birch Project in Ontario. Both projects have been affected by COVID-19 travel restrictions and government-mandated shutdowns in their respective jurisdictions. As the restrictions may be gradually released in coming weeks, the Company has been making adjustments to its exploration programs and schedules in order to get going as soon as possible while ensuring the health and safety of employees and contractors.
“While we are anxious to get going with our 2020 exploration plans in Nevada and Ontario, the health and safety of our employees and contractors is of paramount importance and our first priority,” stated Robert Archer, Newrange’s CEO. “In our preliminary discussions with drilling contractors, we are preparing a set of protocols to address issues related to COVID-19 to ensure that people working on site and those delivering supplies and services are appropriately protected under the unique circumstances of field exploration. We anticipate that the Company will be well-funded for our 2020 exploration programs and should have a steady news flow once we can get started.”
Newrange is planning a 5-10,000 meter drill program at the Pamlico Project and anticipates commencing road work and site preparation within the next two weeks. Reverse Circulation (RC) drilling will be used initially, with diamond drilling anticipated on some targets later in the program. Further details on the drilling will be provided in due course and the resulting metreage will ultimately be contingent on the success of the program as it proceeds. Several drilling contractors have been contacted and all have men and equipment available and are keen to get back to work. While initial drilling and road building will commence on previously permitted and bonded sites, completion of the entire planned program will require some additional permitting. Government offices are still closed but the pertinent BLM personnel are working remotely and are now able to process the company’s permits and make necessary field inspections. The Company believes it will have most of its additional permits in approximately 30 working days. Initial targets will comprise the mineralized areas that were the subject of historical mining along Pamlico Ridge, with additional holes planned to test some of the Induced Polarization (IP) anomalies obtained in the recent survey.
Meanwhile, underground channel sampling on the 5546 level of the historic Gold Bar Mine on Pamlico Ridge has identified a near-surface zone of gold mineralization containing a core of higher grade mineralization averaging 6.88 grams per tonne gold (g/t Au) and 22.19 grams per tonne silver (g/t Ag), 0.31 meters wide and exposed over 11 meters strike length, within an envelope averaging 1.224 g/t Au and 28.47 g/t Ag over its exposed 23 meter strike length.
Defined by 65 channel samples that range from 0.15 to 1.22 meters in length, this zone is one of many similar, closely spaced, mineralized structures in the Gold Bar Mine that form a well-developed en echelon vein system. While the mineralization appears to have a northwest trending strike, LIDAR surveying of all the workings in the mine indicate a well-defined north-south rake to the zone. As the Gold Bar is covered by a patented claim with no permitting required, it will be the first zone to be drill-tested in the upcoming program.
At the North Birch Project in the Red Lake Mining Division, applications for exploration permits have been submitted but the Ontario Mining Lands Administration System has placed a ‘Temporary Hold’ on all applications until COVID-19 restrictions are lifted. Once this happens and the permits are granted, Newrange intends to conduct linecutting, geological mapping and sampling and Induced Polarization (IP) geophysics. This work will be used to generate targets for future drilling, the timing and scope of which is yet to be determined.
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 Newrange Gold Corp.
Newrange is a precious metals exploration and development company focused on near to intermediate term production opportunities in favorable jurisdictions including Nevada, Ontario and Colorado. 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.
CEO & Director
FOR FURTHER INFORMATION CONTACT:
Sharon Fleming 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.