Tickers: XTSX:NRG, PINX:NRGOF
Tags: #Mining
Vancouver, British Columbia - TheNewswire - November 19, 2019 (TSXV:NRG) (OTC:NRGOF) (Frankfurt:X6C) - Newrange Gold Corp. ("Newrange" or the "Company") is pleased to announce that underground channel sampling in the upper levels of the Good Hope Mine has identified a zone of high-grade mineralization averaging 12.88 grams gold per metric tonne (g/t Au) and 27.06 grams silver per metric tonne (g/t Ag).
The high-grade mineralization, as exposed underground, has an average width of 0.4 meters and is contained within a broad "halo" of mineralization that ranges from 5.0 to 9.4 meters wide and averages 3.81 g/t Au and 5.56 g/t Ag over an open-ended zone more than 39 meters long. Defined by 115 channel samples, this mineralization occurs in the interconnecting 5710 and 5718 levels of the Good Hope Mine, the highest elevation workings sampled to date on the Pamlico Project (all levels reflect feet above mean sea level). Like many others in the mine, these levels are interconnected by stopes and raises along a generally east - west striking, gently southerly dipping mineralized zone.
"With only a small number of assays pending, we are very pleased with the outcome of the underground work at the Good Hope Mine," stated Robert Archer, Newrange CEO. "With the underground workings surveyed and mineralized zones mapped and sampled, this area is effectively now drill-ready. Our crew has moved to the adjacent Gold Bar Mine where we have found visible gold in the historic dumps outside the portals and will prepare this area in a similar fashion."
As may be seen on the updated map of the Good Hope Mine (https://www.newrangegold.com/projects/pamlico-gold-project/maps/), these latest results occur along strike from, and 8.5 meters above, the 5690 level that averaged 13.89 g/t Au and 71.19 g/t Ag over 40 meters (see Newrange press release of May 14, 2019). These results, together with others from the Good Hope mine, identify high-grade mineralization with a combined strike length of more than 80 meters and more than 61 meters of vertical development, contained within a broad "halo" of more moderate grade, and continue to expand the footprint of known mineralization at Pamlico. To date, the Company has successfully sampled all major mine workings in the Good Hope Mine with only the results for the 5609 level still pending.
The Good Hope Mine is the southernmost of, and on trend with, the principal past-producing mines along the 1.5 kilometer-long Pamlico Ridge. A map showing the position of these mines may be viewed here.
QA - QC and Methodology
Samples were securely delivered to American Assay in Sparks, Nevada for 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 a precious metals exploration and development company focused on near to intermediate term production opportunities in favorable jurisdictions including Nevada 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.
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
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.
Copyright (c) 2019 TheNewswire - All rights reserved.
