Newrange Gold Provides Update on Core Drilling Program
VANCOUVER, BRITISH COLUMBIA / TheNewswire / April 23, 2019 (TSXV: NRG, OTCQB: NRGOF, Frankfurt: X6C) - Newrange Gold Corp. ("Newrange" or the "Company") reports that all final assays for the remaining three large diameter (PQ) diamond drill holes at the Company's Pamlico gold project have been received. Four core holes were drilled as a test to compare the advantages and disadvantages with the reverse circulation ("RC") drilling method used to date. Information obtained from the core holes confirmed the highly mineralized and structurally complex nature of the small area tested, with all holes intersecting broad zones of disseminated / stock work, oxide gold mineralization hosted in tuffaceous volcanic rocks.
In all three core holes that "twinned" RC holes, intervals of fine grained, low-grade gold mineralization showed reasonably good correlation between drilling methods, but higher-grade assays were not consistently comparable. As previously reported (see Newrange press release of Jan. 28, 2019), assays from core hole PC18-01 were notably higher than in adjacent RC hole P17-04, and the highest grades over a 1.52 m interval were 27.93 g/t compared to 9.40 g/t, respectively. However, higher grade assays from core holes PC18-02 and 03 (7.17 g/t over 1.28 m and 2.02 g/t over 1.37 m, respectively) were lower than those in the adjacent RC holes (340.9 g/t over 1.52 m and 64.88 g/t over 1.52 m, respectively). Hole PC18-04 was drilled as a 'step out' into a previously untested structural target and intersected a broad zone of low-grade gold mineralization with higher grades up to 5.81 g/t Au over 1.65 m (see comparison table below). As a subsequent check, cyanide shake assays and metallic screen analyses were conducted on select samples from the core holes and showed a good correlation with the initial fire assay results.
"The four-hole test program was successful in comparing core and RC drilling methods," stated Robert Archer, CEO. "The geological information we obtained from the core has improved our understanding of the controls and distribution of high- and low-grade gold mineralization observed in the RC drilling. While the highly fractured nature of the mineralized zones and variable core recoveries made it difficult to make direct comparisons of higher gold assays between the two drilling methods, it is also possible that the differences observed are simply due to an inherent variability in the mineralization itself. From this small test program there is no obvious conclusion that the RC drilling was under-reporting gold sample grades. Furthermore, the results emphasize the importance of the planned 1,000 ton bulk sample as a larger sample will be much more representative.
In light of these results, and the considerably lower cost of RC drilling, the Company plans to continue with reverse circulation as the primary method for future drilling programs, using core only in those areas where additional geological information is required."
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The Company is continuing with the underground surveying, mapping and sampling program on the more than 8,000 metres of historic mine workings in the Pamlico Ridge area. Only about one thirtieth of the area covered by the old mines has been drill-tested and the information obtained from the tunnels will be an important facet of planning upcoming drilling programs.
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.
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. 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
Dave Cross
Chief Financial Officer and Corporate Secretary
Email: dcross@crossdavis.com
Phone: 604-669-0868
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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