The Conversation (0)
Drilling at North Birch. Newrange commenced drilling in February at the North Birch project in the Birch-Uchi Greenstone Belt in northwestern Ontario, Canada with approximately 2,000 meters of drilling planned. Once completed, the rig may be moved to the nearby past-producing Argosy gold mine to test the depth of known veins below historic mine workings, along with the continuity of other veins. Geophysical surveys lead the way. 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 are being targeted for drilling and 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. Drilling confirms expectations. As originally interpreted from the company's geophysical work, the first diamond drill hole on the primary target horizon confirmed the presence of a strong deformation zone greater than 100 meters wide. The sheared and folded basalts and iron formation show moderate to high carbonate alteration, and local quartz veining. Both the iron formation and basalts can be mineralized and the presence of strong shearing and carbonate alteration with local quartz veining and sulphides indicate that Newrange is on the right path. Rating is Outperform. We think 2022 will be an eventful year for Newrange as activity accelerates at both North Birch and Argosy. We believe the drilling program could reveal the significant discovery potential at North Birch and unrealized potential remaining at Argosy. Read More >>
