Newrange Gold Drills 6.1 meters of 98 g/T Au, Discovers New Zone At Pamlico Gold Project, Nevada
19 Juin 2017 - 7:00PM
InvestorsHub NewsWire
VANCOUVER, BC -
June 19, 2017 - InvestorsHub NewsWire - (TSX-V:
NRG,
US: CMBPF, Frankfurt: X6C) – Newrange Gold Corp.
("Newrange" or the “Company") is
pleased to report drilling results for the first 10 holes of the
recently completed 19 hole Reverse Circulation (RC) Phase I
drilling program focused on the Merritt Zone of the Pamlico gold
project.
Highlights for
these results:
- Results from the first 10 holes were
highly successful, supporting the continuity of gold mineralization
in the vicinity of the Merritt decline (see prior news releases on
underground channel sampling results by Newrange Gold) and historic
high-grade drill intercepts in the Merritt Zone by prior
operators. Work
to date in the Merritt area indicate a mineralized zone
approximately 100 to 130 meters wide that is presently open ended
along strike.
- Hole P17-03 drill tested the
projection of high-grade gold mineralization east of the decline
and south of the Merritt Zone intersecting 1.5 meters of 51
grams gold per metric tonne (g/T Au).
- Holes P17-04 and P17-05 were drilled
in a fan to confirm the presence of high-grade gold mineralization
and test lateral and up dip projections of mineralization reported
in historic holes PRC36, M10-04 and M10-17. Hole P17-04 intersected
1.5 meters of near surface mineralization assaying 9.40 g/T
Au. Hole P17-05 intersected 1.6 meters assaying
17.9 g/T Au. Importantly, these holes confirm the presence
of high-grade gold bearing structures and indicate good lateral and
vertical continuity of mineralization near the surface in this
area.
- Holes P17-08, 09 and 10 are
interpreted to have discovered a new zone of near surface
high-grade gold mineralization approximately 50
meters south of the end of the decline. Drilling
tested favorable structural projections beneath an area of shallow
alluvial cover. Holes P17-08 and 09 were drilled from the
same site and P17-10 was drilled approximately 15 meters to the
northwest. P17-08 intersected a mineralized zone averaging
13.67 g/T Au over 21.3 meters, including a higher
grade sub-zone averaging 27.8 g/T Au over 9.1
meters with a high-grade interval averaging 84.90
g/T Au over 1.5 meters. Hole P17-09 is interpreted to have
been drilled over the top of, and sub-parallel to the structure
intersected in P17-08 and returned 9.5 g/T Au over 1.5
meters and 6.82 g/T Au over 1.5 meters. Hole P17-10
intersected 49.49 g/T Au over 12.2
meters
with a higher grade
sub-zone averaging 97.94 g/T Au over 6.1 meters
including an interval of 340.9 g/T Au over 1.5
meters.
Robert G. Carrington,
CEO made the following comments: “These initial results indicate
that Pamlico is a unique high potential opportunity for Newrange
Gold. The extremely rich Merritt Zone where we are focusing our
initial exploration efforts right now is one of five similar target
areas, covering only ½ of 1% of this property and less than 1/10 of
1% of the combined strike extent of the more than 300 known veins
and mineralized structures on the property. The knowledge
gained in this area will guide future exploration for several
similar target areas elsewhere on the property including the Gold
Box, Central and Sunset Mine Zones. I look forward to the receipt
of assays for the remaining 9 holes of the Phase I Drill Program
and for more information that will come from ongoing exploration
work underway at Pamlico. We are truly excited by what we are
seeing develop here”.
Phase I Drill
Results – First 10 holes
Hole |
Inclination/
Azimuth |
Total Depth
(m) |
From (m) |
To (m) |
Length
(m) |
g/T Au |
P17-02 |
-90o/0o |
122.0 |
21.3 |
25.9 |
4.6 |
1.91 |
And |
|
|
42.7 |
64.0 |
21.3 |
1.27 |
Incl. |
|
|
61.0 |
64.0 |
3.0 |
6.27 |
P17-03 |
-90
o/0 o |
106.7 |
62.5 |
64.0 |
1.5 |
51.00 |
P17-04 |
-85
o/5 o |
106.7 |
7.6 |
16.8 |
9.2 |
1.89 |
Incl. |
|
|
9.2 |
10.7 |
1.5 |
9.40 |
P17-05 |
-65
o/5 o |
112.8 |
21.3 |
22.8 |
1.5 |
17.90 |
P17-08 |
-85
o/0 o |
106.7 |
30.5 |
51.8 |
21.3 |
13.67 |
Incl. |
|
|
30.5 |
39.6 |
9.1 |
27.80 |
Incl. |
|
|
35.1 |
36.6 |
1.5 |
84.90 |
P17-09 |
-50
o/0 o |
122.0 |
16.8 |
50.3 |
33.5 |
1.10 |
Incl. |
|
|
18.3 |
19.8 |
1.5 |
4.23 |
Incl. |
|
|
39.6 |
41.1 |
1.5 |
9.50 |
And |
|
|
65.6 |
67.1 |
1.5 |
6.82 |
P17-10 |
-85
o/170 o |
61.0 |
18.3 |
19.8 |
1.5 |
6.44 |
And |
|
|
25.9 |
38.1 |
12.2 |
49.49 |
Incl. |
|
|
27.4 |
33.5 |
6.1 |
97.94 |
Incl. |
|
|
27.4 |
28.9 |
1.5 |
340.90 |
All results reported are
length-weighted averages with no grade capping applied.
Lengths of drill intercepts are for the actual drilled intercept
length and may not represent true widths. Insufficient data
currently exists to estimate true width.
Exploration
Guidance
The Company plans to
aggressively pursue exploration at Pamlico during the coming
months.
Planned work will
include:
- Continuation of the ongoing program
of surface and underground mapping and sampling currently
underway.
- Finalizing arrangements to complete
a property-wide airborne geophysical survey consisting of high
resolution airborne magnetometry and
radiometrics.
- Selection of suitable composite
sample for preliminary metallurgical study once the Company has the
results for all 19 holes of the current Phase I drilling
program.
- Finalizing plans for a large
diameter PQ diamond core drilling program.
- Expanding program of RC
drilling.
- Assessing potential to initiate
program of bulk sampling / test mining utilizing the existing
decline and infrastructure.
Terms of
Reference
In this release, all
references to grams per tonne (denoted g/T Au) are grams per metric
ton of 1,000 kilograms (2,204.62 pounds). All references to ounces
per ton (denoted oz/t Au) are troy ounces per short ton of 2,000
pounds.
Quality
Assurance/Quality Control
Mr. Robert G.
Carrington, P. Geo, a Qualified Person as defined by National
Instrument 43-101, the President and CEO of the Company, has
reviewed, verified and approved for disclosure the technical
information contained in this news release. All drilling was by
Reverse Circulation (RC) methods using a six inch diameter center
recovery bit. All drilling was supervised by professional
geologists. Drill samples were collected on 1.5 meter
intervals, and riffel split in a three tiered jones type splitter
generating an average sample weight of approximately 4.9 kilograms
per meter. Samples were then securely delivered to
Inspectorate – Bureau Veritas in Sparks, Nevada for sample
preparation and analysis. Samples are 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 (FA) with a gravimetric finish.
All samples assaying more than 10 grams are checked and re-assayed
using 50 gram FA with gravimetric finish. In addition to the
QA – QC included by the laboratory, the Company inserts blanks,
standards and certified reference material (CRM) at a rate of not
less than 1 in 30.
About
Pamlico
Located 12 miles
southeast of Hawthorne, Nevada, along US Highway 95, the project
has 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, Central, Gold Bar and
Sunset mines.
Discovered about 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 very 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.
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 G. Carrington”
President & CEO
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.
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