diamond drilling

Newrange Gold Commences Diamond Drilling and Expands IP Survey at Pamlico Project

(TheNewswire)



VANCOUVER, BRITISH COLUMBIA TheNewswire - May 13, 2021 (TSXV:NRG ) US (OTC :NRGOF ) ( Frankfurt:X6C) Newrange Gold Corp. (" Newrange " or the " Company ") is pleased to announce that it has resumed drilling at its Pamlico Project in Nevada and has contracted American Drilling Corp. for one and possibly two core drills.

The first drill has started on a series of follow up holes around hole P21-115, a reverse circulation (RC) hole that discovered shallow, high-grade, oxide gold mineralization 85 meters east of the Merritt Zone.  As previously reported (Newrange press release Feb. 23, 2021), hole P20-115 intersected 123.5 meters averaging 1.13 g/t Au, including several high-grade intervals such as 12.47 g/t Au over 4.5 meters, 5.52 g/t Au over 7.62 meters (including 22.35 g/t Au over 1.5 meters) and 13.01 g/t Au over 1.5 meters.

"We are excited to resume drilling at Pamlico and look forward to delineating the new high-grade zone," stated Robert Archer, CEO of Newrange.  "In particular, the ability to obtain core rather than rock chips (from RC drilling) will help interpret the structures that control the gold mineralization in this area.  As these follow-up holes will be relatively shallow, they should be completed fairly quickly and allow us to get the samples into the lab while we move the drill onto the deeper holes testing the various targets defined by the Induced Polarization (IP) surveys.  We know that there is a relationship between gold and the fine pyrite detected by the IP but some of the stronger anomalies are still untested as they lie beyond the reach of the RC drill we had previously.  Consequently, we will be following up on the '91 Zone' and testing the deeper part of the ‘Line 5' anomaly before moving south to test the ‘Skarn Zone'."

The Company has also re-engaged Geophysica TMC to continue the IP survey over the recently staked claims at Pamlico.  Based upon previous survey results, Newrange more than tripled the size of the property to approximately 8,900 hectares through staking and will conduct reconnaissance scale IP in order to extend the known anomalies and determine how much of the new ground to keep.

About Newrange Gold Corp.

Newrange is focused on district-scale exploration for precious metals in favorable jurisdictions including Nevada, Ontario and Colorado. With locally high-grade, near surface oxide gold mineralization, the Company's flagship Pamlico Project is poised to become a significant new Nevada discovery, while the North Birch Project offers additional blue-sky potential in the prolific Red Lake District.  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 Fleming

Corporate Communications

Phone: 760-898-9129
Email:        info@newrangegold.com

Dave Cross

Chief Financial Officer and Corporate Secretary

Phone: 604-669-0868

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.

Copyright (c) 2021 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

The Conversation (0)
Aurum Resources

Aurum Hits 36 g/t Gold at Boundiali BM Target 1, Extending Strike to 2.5km

Aurum Resources Limited (ASX: AUE) (Aurum) is pleased to report further high-grade gold intercepts from exploration diamond drilling at multiple prospects on the BM Tenement, part of its 1037km2 Boundiali Gold Project in Côte d'Ivoire, West Africa.

Keep reading...Show less
US flag, Congress building.

Top Stories This Week: Gold Price Drops, Then Bounces on Trump Victory, Fed Rate Cut

The gold price faced both ups and downs this week as two key events impacted the industry.

The period began on a strong note for the yellow metal, which was steady at around the US$2,740 per ounce level on Monday (November 4) and Tuesday (November 5). However, Donald Trump's victory against Kamala Harris at the polls had a negative effect on gold — it sank to just under US$2,650 on Wednesday (November 6).

What factors drove that decline in gold? John Feneck of Feneck Consulting said in an interview that the drop was a knee-jerk reaction to the election outcome. Here's how he explained it:

Keep reading...Show less
Flynn Gold

Significant Exploration Target for Golden Ridge, NE Tasmania

Flynn Gold Limited (ASX: FG1, “Flynn” or “the Company”) is pleased to announce a maiden JORC compliant Exploration Target for the Trafalgar, Brilliant and Link Zone prospects at its 100%-owned Golden Ridge Project in North-east Tasmania.

Keep reading...Show less
Gold letters spelling "Fed" in front of a pile of gold dollar coins and US flag.

Fed Cuts Rates in Post-Election Meeting, Gold and Silver Gain

Hot on the heels of Donald Trump’s victory in the US presidential election was a meeting of the US Federal Reserve’s Federal Open Market Committee (FOMC) on Wednesday (November 6) and Thursday (November 7).

At the meeting, officials decided to lower the benchmark interest rate by 25 basis points to 4.5 to 4.75 percent. This marks the second cut this year by the FOMC, which made an outsized 50 basis point cut at its meeting in September.

The rate cuts have come as inflation has cooled toward the 2 percent target set by the Fed when it first began raising interest rates in February 2022. The Personal Consumption Expenditures (PCE) Price Index, the Fed's preferred measure of inflation, was up 2.1 percent year-on-year in September, as per the US Bureau of Economic Analysis.

Keep reading...Show less

Newmont Files Early Warning Report

Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) (together with its affiliates, " Newmont " or the " Company ") announced today that Newcrest Canada Holdings Inc. (the " Vendor "), a wholly-owned subsidiary of Newmont, sold all 14,674,056 common shares of Azucar Minerals Ltd. (" Azucar ") held by the Vendor to Almadex Minerals Ltd. (" Almadex ") and certain directors and officers of Azucar (collectively with Almadex, the " Purchasers "), for an aggregate purchase price of $220,110.84, being $0.015 per share (the " Transaction "). The Transaction was completed pursuant to a share purchase agreement among the Vendor and the Purchasers dated as of October 21, 2024 (the " Share Purchase Agreement ").

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Wheaton Precious Metals Announces Third Quarter 2024 Results and Record Quarterly Operating Cash Flow

Designated News Release
THIRD QUARTER FINANCIAL RESULTS

"Wheaton achieved record cash flow from operations in the third quarter of 2024, underscoring the effectiveness of our business model in leveraging rising commodity prices, with our cash operating margins increasing by over 30% relative to the third quarter of 2023. Our portfolio of operating assets delivered solid production levels, continuing to support our annual production guidance range for 2024 of 550,000 to 620,000 gold equivalent ounces," said Randy Smallwood, President and CEO of Wheaton Precious Metals. "Shortly following the quarter, Wheaton announced two accretive, precious metals streaming agreements, including a new stream on Montage's Koné Project and an amendment to the existing stream on Rio2's Fenix Project. Together, these transactions further diversify our strategic partnerships and the geography of our portfolio. Once ramped-up, the Koné Project is forecast to contribute meaningful near-term production, reinforcing Wheaton's already prominent position as a leader in the sector's growth landscape."

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×