VANCOUVER, BRITISH COLUMBIA - TheNewswire - October 13, 2020 - (TSXV:NRG), (OTC:NRGOF), (Frankfurt:X6C) - Newrange Gold Corp. ("Newrange" or the "Company") is pleased to announce that hole P20-82 in the Merritt Zone of the Pamlico Project intersected near surface oxide gold mineralization averaging 14.85 grams gold per metric tonne (g/t Au) and 3.57 grams silver per metric tonne (g/t Ag) over the 9.15 meter interval from 53.35 to 62.50 meters. This mineralized zone contained a high-grade core returning 34.11 g/t Au and 7.64 g/t Ag and lies within a larger 32.01 meter interval assaying 4.74 g/t Au and 2.25 g/t Ag from 44.21 to 76.22 meters.
Hole P20-82 also intersected a shallower zone of mineralization averaging 1.10 g/t Au and 3.67 g/t Ag over the 9.15 meter interval from 22.86 to 32.01 meters. A second hole, P20-83, expanded this oxide gold mineralization to the southeast with an intercept from 4.57 to 10.67 meters averaging 0.484 g/t Au and 4.57 g/t Ag. Hole P20-82, in particular, expands the footprint of high-grade mineralization by filling in an important gap between adjacent holes P17-03, 18 and 32. The table below summarizes these drill results and a map of hole locations can be found here.
These mineralized intercepts are thoroughly oxidized and focused in and near contact zones between the rhyolite and latite volcanic rocks that have been intensely sheared and brecciated due to the competency contrast of these two rock types.
The Company is expanding the drill pattern in this and other areas of the property including step outs on hole P17-10, the highest grade hole in the Company's 2017 program that contained multiple high-grade intercepts including 6.1 meters averaging 97.94 g/t Au as announced June 19, 2017. Road construction will commence shortly to drill test the upper Good Hope Mine at a similar rhyolite / latite contact zone where underground channel sampling has identified consistent high grade results including 40 meters averaging 13.89 g/t Au and 71.19 g/t Ag in the 5690 level of the mine as announced May 14, 2020. The Company is also conducting follow-up drilling of hole P20-65 that returned 4.6 meters of 0.535 gram gold from surface with additional highly anomalous gold mineralization at depth in Gold Box Canyon as discussed in the Company's press release of September 20, 2020. Similar rhyolite / latite contact zones are exposed throughout the canyon and have been heavily prospected by artisanal miners in the past with production evident in three separate series of mine workings.
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 vacuum augmented, 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 re-assayed by fire assay with a gravimetric finish. Silver was determined by fire assay with an atomic absorption 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. Duplicate samples are collected for all drill samples and are submitted at a rate of 1 in 40.
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, 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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