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TSXV: PINN
News
Newrange Continues to Expand Footprint of Gold and Silver Mineralization at Pamlico with Systematic Underground Sampling
VANCOUVER, BRITISH COLUMBIA, August 6, 2019 (TSXV: NRG, US: NRGOF, Frankfurt: X6C) – Newrange Gold Corp. (“Newrange” or the “Company”) is pleased to announce that follow-up mapping and channel sampling on the 5570 level of the Good Hope Mine at the Company’s Pamlico gold project has identified structurally controlled high-grade mineralization averaging 12.48 grams gold per metric tonne (g/t Au) and 49.55 grams silver per metric tonne (g/t Ag).
This high-grade mineralization was sampled in accessible mine workings over a strike length of 24.0 meters and ranges in width from 0.1 to 1.1 meters with an average width of 0.6 meters. Importantly, the high-grade zone is contained within a much larger mineralized envelope more than 142 meters long and 4 to 13 meters wide, comprising mineralization found in both the hangingwall and footwall of the high-grade zone. The average, uncapped grade of the broader zone is 1.15 g/t Au and 20.48 g/t Ag. This large mineralized zone remains open to expansion along strike to the east and west. The down dip projection appears to be partially explored and developed by workings on the 5518 level where additional sampling is currently under way.
Also of importance is the fact that the 5570 level high-grade zone lies structurally down dip and 36.6 meters (120 feet) vertically below similar high-grade mineralization sampled on the 5690 level of the Good Hope Mine that averaged 13.89 g/t Au and 71.19 g/t Ag over 40.0 meters (see Newrange news release of May 14, 2019). Like the mineralization on the 5690 level, mineralization on the 5570 level is hosted in lithic tuffs, is intensely oxidized and strikes roughly E-W with a shallow southerly dip.
“We are starting to see a sizeable zone of continuous gold-silver mineralization building at the Good Hope Mine,” stated Robert Archer, CEO. “The underground mapping and sampling program is proving to be an extremely valuable and cost-effective tool for us to build a 3D model of the mineralization in advance of drilling it.”
The Good Hope Mine lies along Pamlico Ridge approximately 850 meters southeast of the Merritt Area where the Company’s prior drilling first identified extensive high-grade gold mineralization. The mineralization at Good Hope is interpreted as being related to the regional E-W trending Pancake Range Lineament. Of the more than 50 million ounces of gold produced from the N-W trending structural system of the Walker Lane, more than 30 million came from the corridor along the intersection with the Pancake Range Lineament.
Underground Channel Sampling Program – Discussion
To date, the Company has successfully completed channel sampling on various levels of multiple underground workings at its Pamlico gold project. Given the estimated 8,000 meters of underground development and approximately 300 mine openings spread over a 1,500 by 1,000 meter area, the sampling is approximately 50% complete. Results so far have been extremely encouraging (see also prior news releases), confirming the Company’s interpretation that zones of high-grade gold (and silver in the Good Hope Mine) are surrounded by lower grade disseminated mineralization. The underground sampling program is being conducted in areas that have yet to be drilled and will help the Company to better define the geological model at Pamlico and allow for 3D modeling of the historic mine workings to refine targets for upcoming drill programs.
QA – QC and Methodology
Samples for assay were securely delivered to American Assay in Sparks, Nevada for sample preparation and analysis. Samples were dried then stage crushed to 80% passing 10 mesh. A 1,000 gram sub-sample was then split out and pulverized to 140 mesh from which 50 gram samples were split for analysis by fire assay with atomic absorption finish. All samples assaying more than 10 g/t Au are checked and re-assayed using fire assay (FA) with a gravimetric finish. In addition to the QA – QC conducted by the laboratory, the Company inserts blanks, standards and certified reference material (CRM) at a rate of 1 in 20.
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.