Newrange Gold Expands and Establishes Continuity of Mineralization at Good Hope Mine
(TheNewswire)
VANCOUVER, BRITISH COLUMBIA - TheNewswire - October 30, 2019 - (TSXV:NRG) (OTC:NRGOF) (Frankfurt:X6C) – Newrange Gold Corp. ("Newrange" or the “Company") is pleased to announce that ongoing underground channel sampling at the Company’s Pamlico project has confirmed continuous gold and silver mineralization between the 5570 and 5518 levels of the Good Hope Mine. Results of sampling in stopes and raises between the two levels show a higher-grade core of mineralization averaging 4.08 grams gold per metric tonne (g/t Au) and 51.5 grams silver per metric tonne (g/t Ag) ranging from 0.3 to 1.0 meter wide, with an average width of 0.7 meters, within a larger mineralized envelope that averages 1.2 g/t Au and 21.8 g/t Ag. The mineralization is defined by 58 samples ranging in grade from 0.017 to 68.0 g/t Au.
Combined with results from the 5570 level (see Newrange press release of August 6, 2019) that averaged 12.48 g/t Au and 49.55 g/t Ag over a 24 meter strike length, within a larger zone averaging 1.15 g/t Au and 20.48 g/t Ag over a strike length of 144 meters, and separate results for the 5690 level (see Newrange press release of May 14, 2019) that averaged 13.89 g/t Au and 71.19 g/t Ag over 40 meters, the current results indicate a zone of mineralization with a strike length ranging from 40 to more than 144 meters and a dip extent in excess of 99 meters that remains open to expansion. Sample lengths for the larger zones are controlled by stope widths that typically vary from 1.0 to 2.2 meters in this area. Historically, stopes were selectively developed on the higher-grade mineralization and the extent of “halo” mineralization may be wider than the sampled width. A map and cross section may be viewed here.
“Our underground sampling program at Pamlico is continuing to provide valuable information in an extremely cost-effective manner,” stated Robert Archer, Newrange CEO. “The Good Hope Mine is the southernmost of, and on trend with, the principal past-producing mines along the 1.5 kilometer-long Pamlico Ridge. Although there are results still to come in from this mine, our crew has moved to the adjacent Gold Bar Mine where we have found visible gold in the historic dumps outside the portals. In addition to the geological information being obtained, the LIDAR surveying of the underground workings is providing accurate geospatial information that will help guide future drilling in this area.”
Mineralization in the Good Hope Mine forms a near-surface, dip slope zone within 25 to 50 meters of the surface. It appears to be controlled by a system of undulating, curvilinear, east-northeast to east-southeast trending low angle structures with gentle southerly to southwesterly dips. It is centered slightly more than 1 kilometer southeast of the Merritt Decline where previous channel sampling by the Company obtained results averaging 2.92 g/t Au over 75.5 meters as announced in the Company’s press release dated April 11, 2017.
Work Program and Timeline
To date the Company has completed LIDAR scans of all accessible workings in the Merritt decline, Good Hope and Gold Bar Mines, and the lower levels in the Pamlico Mine. The upper levels of the Pamlico Mine and an area of mine workings referred to as the West Zone remain to be surveyed. Channel sampling has been completed in the Merritt decline, the Good Hope Mine and most of the lower levels of the Pamlico Mine, with assays pending from several of the upper levels of the Good Hope Mine. In addition, the entire trend of mineralization along the sub-parallel Gold Box Canyon has yet to be surveyed and sampled.
The Company has contracted Zonge Geophysics to conduct an IP – Resistivity survey of select areas of the property, which is currently scheduled to take place in December, subject to Zonge’s availability.
QA – QC and Methodology
Samples were securely delivered to American Assay in Sparks, Nevada for 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.
Newrange is a precious metals exploration and development company focused on near to intermediate term production opportunities in favorable jurisdictions including Nevada 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.
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.
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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