VANCOUVER, BRITISH COLUMBIA - TheNewswire - September 21, 2020 (TSXV:NRG) (OTC:NRGOF) (Frankfurt:X6C) - Newrange Gold Corp. ("Newrange" or the "Company") is providing an update on the reverse circulation ("RC") drilling program at the Pamlico Gold Project in Nevada. During the Company's 2020 program, thirty-four holes have been drilled to date, for 3,462 meters, mostly along an 800-meter length of Pamlico Ridge between the area of the high-grade mineralization drilled in 2017 and the historic Gold Bar Mine. This release covers the last 20 holes as results from the first 14 holes were reported on July 30, 2020. A location map of the holes can be found on the Company's website at https://www.newrangegold.com/projects/pamlico-gold-project/maps/. Approximately 35 more holes are planned, including diamond drill holes later in the program to test some of the deeper targets.
Through the course of the recent drilling, it became apparent that the drill rig being used was unsuitable for the terrain and many of the higher priority holes that were planned could not be accessed. Consequently, a new contractor has been brought in with a more versatile, track-mounted rig and drilling resumed on September 19.
"Drilling to date continues to demonstrate the widespread nature of the gold mineralization at Pamlico," stated Robert Archer, Newrange's CEO. "The aim of this program is to better understand the controls on the mineralization and to explore for new zones similar to those already known. With the new drill rig, we anticipate being able to get on top of the Good Hope Mine at the south end of Pamlico Ridge where we sampled 13.89 g/t Au over 40 meters strike length and 12.48 g/t Au over 24 meters in the underground workings. Overall, the drilling is confirming the strong structural control and widespread nature of gold mineralization on the Pamlico property. The second half of the program will follow up on targets generated in the first half, complete the drilling at the Good Hope Mine and test the IP chargeability anomaly that extends for more than 1,000 meters through the central part of the property."
Three holes tested outlying, shallow IP chargeability anomalies and all intersected disseminated pyrite, demonstrating that the geophysical method is working, especially where the oxidation level is not as deep.
Hole P20-63 was drilled in the Central Mine area, approximately 1,200 meters north-northeast of the Merritt Decline, on what appears to be a 'finger' extending out from the large IP anomaly trending N-S through the central part of the property. Significantly, 1% disseminated pyrite was intersected in a dioritic rock, potentially confirming the interpretation that the large IP anomaly is reflecting sulphides in an intrusive body. A mineralized interval returning 0.178 g/t Au over 7.6 meters occurs just above a structure, indicating that the intrusive rock can be mineralized where cut by gold-bearing structures. This theory will be tested in the upcoming program as other anomalies, including the large one, are drilled.
The table below summarizes results for the last 20 holes:
Note: Holes P20-67 and 68 were lost in shallow mine workings short of the target depth.
Holes P20-64 and 66 were drilled in the Pediment Zone and intersected sulphides within volcanic rocks. The former returned two 1.5-meter intercepts of 0.227 and 0.337 g/t Au, while the latter hole returned no significant values.
Hole P20-65 was drilled in Gold Box Canyon and returned 0.535 g/t Au over 4.6 meters starting at surface plus 0.113 g/t Au over 22.9 meters at a down hole depth of only 40 meters. This hole requires follow-up.
Hole P20-71, drilled into a weak IP chargeability anomaly at the top of the Gold Bar Mine, intersected three mineralized zones within 100 meters of surface returning 1.133 g/t Au over 3.0 meters, 0.769 g/t Au over 3.0 meters and 0.471 g/t Au over 9.1 meters. The IP response reflects the intense oxidation that has destroyed the sulphides associated with the gold mineralization in this area.
Two angled holes, P20-78 and 79, tested the interpreted down-plunge extent of the high-grade zone intersected in 2017 near the Merritt Decline. Hole P20-78 intersected 5.96 g/t Au over 1.5 meters within 1.59 g/t Au over 9.1 meters (53.4-62.5 m). The deeper hole, P20-79, intersected 0.98 g/t Au over 3.0 meters at a depth of 100.6 meters.
Holes P20-80 and 81 tested structural targets at the southwest base of Pamlico Ridge and intersected narrow intervals of weak gold mineralization.
Three holes targeted the mineralization in the Good Hope Mine but two of these intersected underground workings within 15 meters of surface that had been backfilled and were unknown to the Company, such that both holes were abandoned. The third hole was apparently not able to get close enough and returned no significant values. It is anticipated that drilling in this area will be completed in the coming weeks.
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. All drilling was conducted by Reverse Circulation (RC) methods using a five inch diameter center return bit. All drilling was supervised by professional geologists. Samples were collected on 1.5 meter (5 foot) intervals. Drill cuttings were captured in a closed system cyclone, then riffle split in a three-tiered Jones-type splitter. Samples were then securely stored and delivered to Paragon Geochemical Laboratories in Sparks, Nevada for sample preparation and analysis. Samples were dried then stage crushed to 80% passing 10 mesh. A 300 gram sub-sample was then split out and pulverized to 90% passing 140 mesh from which 1 Assay Ton, approximately 30 gram samples were split for analysis by fire assay (FA) with an OES finish. Samples assaying in excess of 5 g/t Au were reassayed by fire assay with a gravimetric finish. Silver was determined by fire assay 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 not less than 1 in 20.
Newrange is a precious metals exploration and development company focused on near to intermediate term production opportunities in favorable jurisdictions including Nevada, Ontario 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.
CEO & Director
Sharon Fleming Dave Cross
Corporate Communications Chief Financial Officer and Corporate Secretary
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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