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TSXV: PINN
News
Newrange Gold Receives BLM Approval to Assume Permits for Underground Sampling and Development of Merritt Decline
VANCOUVER, BRITISH COLUMBIA, April 8, 2019 (TSXV: NRG, OTCQB: NRGOF, Frankfurt: X6C) – Newrange Gold Corp. (“Newrange” or the “Company”) is pleased to announce that, further to the Company’s press release of March 21 of this year, the US Bureau of Land Management (the “BLM”) has issued a decision accepting Newrange’s proposed assumption of permits and bonding for the Merritt decline and related activities on the Pamlico Project including collecting the permitted 1,000 ton bulk sample. Under the terms of the permits the Company will increase its reclamation bond by posting an additional US$11,359 with BLM bringing the Company’s total bond to US$27,784 by May 23, 2019.
The Merritt decline is 3 x 4 x 200 meters in dimension and was developed by the prior owners in 2013 at a cost of US$2–3 million. At that time, the decline was specifically permitted with the BLM for test mining and collecting the above-mentioned bulk sample. Newrange’s assumption of these permits ensures continued access to the important and valuable Merritt decline where the Company’s previously announced saw cut channel sampling yielded 75.5 meters of near surface, oxide gold mineralization averaging 2.92 grams gold per metric tonne (g/t Au). This large mineralized zone, typical of observed mineralization at Pamlico, is crossed by numerous high-grade structures including 13.2 meters averaging 17.25 g/t Au, 4.6 meters at 10.84 g/t Au, 1.5 meters at 36.9 g/t Au, 1.5 meters at 104.75 g/t Au, and others. A map of the decline sampling results may be viewed on the company’s website at the following link: https://www.newrangegold.com/site/assets/files/3943/decline-map-ws-model-1.pdf.
“Transferring the BLM permits into the Company’s name is an important step in advancing our exploration of the Pamlico Project,” stated Robert Archer, CEO. “This will allow us to put together a comprehensive program for larger scale metallurgical and geotechnical tests that will have a significant impact on future resource and reserve estimates.”
The bulk sample will be used to generate a “break of mine” sample that will more accurately reflect the conditions likely in an actual production scenario including rock fragmentation, work indices, power requirements, rock mechanics and even the most desirable mining methods. This material will then be used to assess various concentration and extraction methods for Pamlico mineralization including screening, conventional milling, reagent consumption, heap leaching and vat leaching.
Newrange has also purchased the major underground equipment necessary to extract the contemplated bulk sample including a single boom Secoma drill jumbo and a 2-yard Eimco underground LHD style loader.
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.