Newrange Gold Re-discovers Good Hope Mine at Pamlico, Samples 13.89 gt Au and 71.19 gt Ag over 40 meters
(TheNewswire)
VANCOUVER, BRITISH COLUMBIA / TheNewswire / May 14, 2019 (TSXV: NRG, US: NRGOF, Frankfurt: X6C) – Newrange Gold Corp. ("Newrange" or the “Company") is pleased to announce that ongoing underground mapping and sampling at the Pamlico Project has identified the source of high-grade gold and silver in the historic Good Hope Mine. Underground channel sampling of the exposed part of the mineralized zone yielded a weighted average of 13.89 grams gold per metric tonne (g/t Au) and 71.19 grams silver per metric tonne (g/t Ag) over 40 meters in the 5690 level of the mine. Including the adjacent footwall and hangingwall samples, which are also mineralized, the same 40 meters averaged 4.96 g/t Au and 42.24 g/t Ag and the zone is open along strike and down dip. One of several historic past producing mines that are part of the Company’s Pamlico gold project in Nevada, the Good Hope mine lies approximately 850 meters southeast of the Merritt decline along the general trend of Pamlico Ridge.
The Good Hope mineralization, like that found in the Pamlico Mine and the Merritt Area, is intensely oxidized. The silver to gold ratio (Ag:Au) of 7.9 to 1 is, however, much higher in the Good Hope samples than in the Pamlico Mine and the Merritt Area, where it averages roughly 1 to 10. The 5690 level Ag:Au ratio is more typical of gold deposits throughout the Basin and Range province and indicates a potentially important zonation within this extensive mineralizing system, which could provide very important vectoring information for future exploration.
“The re-discovery of the Good Hope Mine mineralization is a very significant development for the Pamlico Project,” stated Robert Archer, CEO. “With approximately 8,000 meters of underground workings and 300 mine entrances within an area of about 1,500 by 1,000 meters, and no maps or production data to rely upon, the ability to make this kind of discovery almost a kilometer away from our highly successful exploration in the Merritt Area underscores the tremendous potential of the project. Having access to these extensive workings provides a unique opportunity in that the channel samples provide data that is of a higher quality than that obtained by drilling, at a fraction of the cost. Importantly, the presence of higher silver values in the Good Hope Mine is a significant feature that will help gain a better understanding of the mineralizing system.”
Twenty-seven detailed channel and panel samples were taken from the 5690 level of the Good Hope Mine and range in grade from 0.05 to 41.20 g/t Au and 6.00 to 244.67 g/t Ag. The sampling tested an undulatory, anastomosing set of highly mineralized structures that are a subset of a much larger, similar structural package that strikes dominantly E-W with shallow to moderate dips to the south. Reconnaissance of other underground workings on this set of structures indicates that the true thickness of this package may be greater than 50 meters with individual structures up to 10 meters in thickness. Newrange’s work to date has also traced similar mineralized structural zones with nearly identical attitudes in artisanal mine workings extending easterly from the Good Hope mine for at least 1.7 kilometers across the Pamlico property.
Geological Setting
The Good Hope Mine, located 850 meters southeast of the Merritt decline, is developed on a series of roughly E-W trending structures that intersect the northwest trending Pamlico Ridge trend. Structural elements of both systems are present in the Good Hope mine as are a series of nearly N-S striking structures that show visual evidence of strong mineralization. Gold-silver mineralization in the Good Hope Mine is hosted in the same lithic tuff unit known to host the gold mineralization in the Merritt Area and the Pamlico Mine and is overlain by the same rhyolite flows and tuffs. The E-W structures are part of Newrange’s E-W Target Zone and are an important feature related to the regional E-W striking Pancake Range Lineament that intersects the Walker Lane and the related Pamlico Ridge trend on the property. Intersections, especially those of large, deep seated structural lineaments like the Walker Lane and Pancake Range Lineaments, are widely known to form highly favorable geological environments that promote circulation of deep metal rich fluids, and are critical in the formation of large deposits and mining districts. Other districts and deposits found along the intersection of the Walker Lane and the Pancake Range Lineaments include Round Mountain, Santa Fe, Aurora and Borealis in Nevada and the Bodie district in California. Elsewhere within the Walker Lane, the famed Comstock Lode, with past production of more than 8.3 million ounces of gold and 192 million ounces of silver (NBMG Bull. 70) occurs at the intersection of the Walker Lane and the northeast trending Humboldt Structural Lineament, a major, broad, northeast trending structural zone.
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.
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
Corporate Communications
Phone:
760-898-9129
Email:
info@newrangegold.com
Chief Financial Officer and Corporate Secretary
Phone:
604-669-0868
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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