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North Birch and Argosy drilling programs. Drilling at North Birch is expected to begin in early February with at least five holes planned along approximately three kilometers of strike on the main target horizon. At the past-producing Argosy gold mine, first phase drilling will begin in March and test the depth of known veins below historic mine workings and the continuity of other veins. Geophysical surveys inform drilling at North Birch. In April 2021, Newrange completed an induced polarization (IP) survey over the eastern portion of the North Birch project area covering the main target horizon. The survey revealed several well-defined chargeability anomalies which will be targeted for drilling that coincide with the target horizon along the limb of the sheared and folded iron formation. A LiDAR survey conducted last summer revealed a pronounced break in the topography reflecting an 8-kilometer-long shear zone along the main fold limb of the iron formation. Going deeper at Argosy. At the historic Argosy mine, only four veins were mined to a maximum depth of about 270 meters. Drilling in 2003 and 2004 intersected gold mineralization to a depth of 400 meters, including 10.46 grams of gold per tonne over 2.98 meters and 14.15 grams of gold per tonne over 1.65 meters, indicating that mineralization continues at depth. Newrange has compiled information from 72 historic drill holes in conjunction with outlines of the underground mine workings to complete a preliminary three-dimensional model that is being used to better understand Argosy's vein system and assist in planning the drill program. Rating is Outperform. We think 2022 will be an eventful year for Newrange as the focus moves to its properties in the Birch-Uchi Belt in Ontario. We believe the drilling program could help investors better understand the significant potential of both projects. We anticipate additional drilling at the company's Pamlico project in Nevada during the second quarter of 2022. Read More >>
