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Newrange Gold Corp. (TSXV:NRG, OTC Pink:NRGOF) (“Newrange” or the “Company”) is pleased to announce that the first large diameter (85 mm, PQ) core hole drilled on the Pamlico Project in Nevada has yielded overall higher gold grades than reverse circulation (RC) drilling in the twinned hole.
Newrange Gold Corp. (TSXV:NRG, OTC Pink:NRGOF) (“Newrange” or the “Company”) is pleased to announce that the first large diameter (85 mm, PQ) core hole drilled on the Pamlico Project in Nevada has yielded overall higher gold grades than reverse circulation (RC) drilling in the twinned hole.
Core hole PC18-01 was drilled 2 meters southwest of RC hole P17-04 to a depth of 67.07 meters (220 feet) and the large diameter core yielded materially higher-grade assays than the RC samples in P17-04. Three discrete mineralized zones were identified and compared between the holes. While Zone 1 returned similar results in the two holes, Zones 2 and 3 displayed significantly higher assays in the core hole. The tabulations below provide a side by side comparison of mineralized intervals within holes PC18-01 and P17-04. The average grade of the entire core hole (67.07m or 220 ft) was 1.13 g/T Au compared to 0.42 g/T Au over the same interval in the RC hole.
Comparison of mineralized drill intervals holes PC18-01 and P17-04
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.
Robert Carrington, the Company’s President and Chairman comments that, “All in all, we consider these results to be extremely positive. While we still need to see what the other holes tell us, the data from the first core hole compared to RC hole P17-04 certainly seems to support the thesis that the RC drilling has materially under-reported the gold content of the Pamlico system. This drilling also seems to put to rest concerns about ‘down hole contamination’ in the RC drilling as there is a reasonably good correlation of mineralized zones between the holes, with the core hole typically reporting higher grades at all levels and grade ranges.”
Notably, visible gold was observed in hole PC18-01, in the interval from 8.35 to 8.99 meters (27.4 to 29.5 feet), which assayed 7.12 grams gold per metric tonne (g/T Au). Although no visible gold was observed in the RC hole, an intersection of 9.40 g/T over 1.52 meters (5 feet) from 9.15 to 10.67 meters (30.0-35.0 feet) is believed to be the same zone. Other high-grade intervals in core hole PC18-01 included 8.25 g/T Au over the 1.46 meter (4.8 foot) interval from 26.59 to 28.05 meters (87.2 to 92 feet), and 27.93 g/T Au over 1.53 meters (5 feet) from 53.96 to 55.49 meters (177.0 to 182.0 feet).
PC18-01 is the first of 4 PQ core holes completed in a test program by the Company during December 2018. Three core holes were drilled to twin selected previously drilled RC holes, in order to compare gold recoveries between the two drilling methods. A fourth core hole was drilled as a step-out on the mineralization. All core holes were drilled vertically and sampled continuously from top to bottom. The objective of core hole PC18-01 was to twin and check RC hole P17-04, a comparatively low-grade hole in the heart of the high-grade Merritt zone (see Newrange news release June 19, 2017).
Statistical comparison of holes PC18-01 and P17-04
*The comparative information presented above is for the interval from surface to a depth of 220 feet only.
Discussion
RC drilling was originally selected, after careful consideration, as the preferred drilling method for multiple reasons. Principally, the highly fractured and faulted nature of rock at Pamlico indicated that conventional diameter core (N and H diameters) would not be able to achieve acceptable recovery of the very friable iron oxide that contain most of the gold at Pamlico. In addition, RC drilling with a sample diameter of 139.7 mm vs HQ core with a diameter of 63.5 mm provides a sample that is 484% larger that whole core, is more cost effective and much faster. This limited test program of PQ diameter (85 mm) core is intended to check and evaluate the RC drilling results. The comparative results of PC18-01 with P17-04 consistently show higher grade gold concentrations across all grade ranges in the PQ core hole. Variation in any geologic system is normal, however the skewed data strongly indicates that the RC drilling is losing potentially significant amounts of gold by blowing gold grains into the highly fractured host rock and implies that there may be much more gold in the Pamlico system than indicated by the RC drilling.
QA – QC and Methodology
Core samples are delivered to the Company’s secured warehouse by the drill contractor. Core is logged by a senior geologist and marked for sampling. Core is cut with a diamond saw along a “cut line” scribed on the core by the geologist during logging with one half of the core bagged and sent for assay and one half returned to the core box for future reference. Saw sludge is collected on a sample by sample basis, filtered to “paste” then coned and quartered with one half incorporated with the sample for assay and one half folded into an envelope of the filter paper and boxed with the core in the appropriate sample interval for future reference. A complete detailed description of the sludge sampling methodology is available on the Company’s website.
Samples for assay are securely delivered to American Assay in Sparks, Nevada for sample 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 and the President & 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 G. Carrington”
President & Chairman
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.
Source: www.thenewswire.com
