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TSXV: PINN
News
Newrange Gold Commences Diamond Drilling and Expands IP Survey at Pamlico Project
VANCOUVER, BRITISH COLUMBIA, May 13, 2021 (TSXV: NRG, US: NRGOF, Frankfurt: X6C) – Newrange Gold Corp. (“Newrange” or the “Company”) is pleased to announce that it has resumed drilling at its Pamlico Project in Nevada and has contracted American Drilling Corp. for one and possibly two core drills.
The first drill has started on a series of follow up holes around hole P21-115, a reverse circulation (RC) hole that discovered shallow, high-grade, oxide gold mineralization 85 meters east of the Merritt Zone. As previously reported (Newrange press release Feb. 23, 2021), hole P20-115 intersected 123.5 meters averaging 1.13 g/t Au, including several high-grade intervals such as 12.47 g/t Au over 4.5 meters, 5.52 g/t Au over 7.62 meters (including 22.35 g/t Au over 1.5 meters) and 13.01 g/t Au over 1.5 meters.
“We are excited to resume drilling at Pamlico and look forward to delineating the new high-grade zone,” stated Robert Archer, CEO of Newrange. “In particular, the ability to obtain core rather than rock chips (from RC drilling) will help interpret the structures that control the gold mineralization in this area. As these follow-up holes will be relatively shallow, they should be completed fairly quickly and allow us to get the samples into the lab while we move the drill onto the deeper holes testing the various targets defined by the Induced Polarization (IP) surveys. We know that there is a relationship between gold and the fine pyrite detected by the IP but some of the stronger anomalies are still untested as they lie beyond the reach of the RC drill we had previously. Consequently, we will be following up on the ’91 Zone’ and testing the deeper part of the ‘Line 5’ anomaly before moving south to test the ‘Skarn Zone’.”
The Company has also re-engaged Geophysica TMC to continue the IP survey over the recently staked claims at Pamlico. Based upon previous survey results, Newrange more than tripled the size of the property to approximately 8,900 hectares through staking and will conduct reconnaissance scale IP in order to extend the known anomalies and determine how much of the new ground to keep.
About Newrange Gold Corp.
Newrange is focused on district-scale exploration for precious metals in favorable jurisdictions including Nevada, Ontario and Colorado. With locally high-grade, near surface oxide gold mineralization, the Company’s flagship Pamlico Project is poised to become a significant new Nevada discovery, while the North Birch Project offers additional blue-sky potential in the prolific Red Lake District. 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 Fleming
Corporate Communications
Phone: 760-898-9129
Email: info@newrangegold.com
Dave Cross
Chief Financial Officer and Corporate Secretary
Phone: 604-669-0868
Email: dcross@crossdavis.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.