VANCOUVER, BC--(Marketwired - September 11, 2017) - Newrange Gold Corp. ("Newrange" or the "Company") (TSX VENTURE: NRG) (OTC PINK: CMBPF) (X6C.F) is pleased to announce the second phase of drilling at the Company's Pamlico gold project will commence by Thursday, this week. The drill rig, most support vehicles and equipment are on site.
Principal objectives of this second phase of drilling are:
- Drill test and expand recently discovered high-grade gold mineralization in holes P17-08 and P17-10, situated approximately 54 meters from the high grade Merritt Zone.
- Drill test newly identified structural targets developed from recent detailed surface mapping and channel sampling between the Merritt zone and holes P17-08 and 10.
- Drill two deep stratigraphic test holes to assess potential for "stacked" favorable horizons that could be receptive for additional high grade mineralization at depth. Additionally, important information about depth of oxidation and depth of water table will likely be obtained from these holes as well.
- The Company is already preparing for a third phase of RC drilling that will target both step-out extensions and entirely new areas of the property based on ongoing mapping and sampling programs. Geologic information related to gold mineralization obtained from the upcoming second phase program will be used to guide this third phase as well.
Discussion
Phase I drilling at Pamlico was highly successful and achieved all objectives of the program. This second phase of drilling will build on those successes and importantly test substantial areas of potentially favorable host rocks that have never been drilled and assayed. Phase II drilling is planned to consist of up to 10,000 feet of reverse circulation drilling in holes ranging from 200 to 1,000 feet in depth.
About Pamlico
Located 12 miles southeast of Hawthorne, Nevada, along US Highway 95, the project has 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, Central, Gold Bar and Sunset mines.
Discovered about 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 very underexplored in terms of modern exploration with no documented geophysical or soil geochemical surveys. When the Company acquired the property in 2016 a scant 103 drill were scattered across the then 1,200 hectare property.
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. 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 & CEO
FOR FURTHER INFORMATION CONTACT:
Sharon Hebgin
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
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.
