VANCOUVER, BC–(Marketwired – November 06, 2017) – Newrange Gold Corp. (TSX VENTURE: NRG) (OTC PINK: CMBPF) (FRANKFURT: X6C) (“Newrange” or the “Company“) is pleased to announce drilling at the Company’s Pamlico project in Nevada has delineated two new high-grade gold zones now referred to as the K-Zone and N-Zone. Both new trends were initially recognized from Newrange’s surface geologic mapping in the area of the Merritt Zone (M-Zone). The Company has received assay results for two of the four drill holes currently completed in the K-Zone, with an intercept of 16.87 grams gold per metric tonne (g/T Au) over 4.6 meters as reported for P17-32 in the Table below. In addition, assay results for holes P17-21, 28 and 29 indicate the N-Zone is parallel to the adjacent M-Zone, with results of 12.60 g/T Au over 3.0 meters in P17-29 and 4.19 g/T Au over 21.3 meters in P17-21.
- The exploration results to date strongly support the presence of a NW-oriented gold corridor with a width of approximately 65 meters (~220 ft) within a broader corridor that, as indicated by historic mining and recent mapping, may have a width of over 245 meters (~800 ft). Mapping along trend to the SE of the current drill area indicates that the same NW-oriented structures are still present for at least 365 meters (~1,200 ft) in historic workings and other exposures. Strike potential to the NW is covered and unknown at this time. See Maps 1 and 2 on the Company Website here.
- Drilling continues to suggest that the bulk of the gold mineralization is in iron oxide dominated structures and stockwork veining.
- No visible gold has been observed in the Company’s drill logging and underground sampling, indicating a fine grained gold distribution. As well, all mineralized intervals are completely oxidized and within 75 meters (~250 ft) of the surface.
- Drilling in the J-Zone indicates the presence of additional mineralized structures, increasing the potential width of this high-grade area.
- Almost all drill holes to date have intersected gold mineralization of some significance.
- None of the current drilling tests the more extensive Pamlico Ridge portion of the system which could extend for more than 2.4 kilometers to the southeast as indicated by historic mine workings and prospects. Further mapping, sampling and permitting will allow initial drill testing of this area by January, 2018.
- Recent field work and drill results continue to refine the geologic framework the Company will use to explore other prospective targets on the property.
|Phase II Assay Table: Summary Drill Results (Condensed) – Holes P17-20 to P17-32|
|Hole||From (m)||To (m)||Length (m)||Avg. Au g/T||Initial Azim.||Initial Inclin.||TD (m)||Notes (see website version for more detail)|
|P17-20||56.4||64.0||7.6||1.71||215||85||80.8||Stockwork like zone|
|including||25.9||27.4||1.5||45.97||New “N-Zone” indicated|
|P17-22||10.7||13.7||3.0||1.51||120||85||76.2||Mineralized interval in upper rhyolite|
|P17-24||24.4||42.7||18.3||1.31||153||85||76.2||Expansion and definition of “J-Zone”|
|P17-25||13.7||50.3||36.6||3.69||150||80||76.2||Expansion and definition of “J-Zone”|
|P17-26||19.8||48.0||28.2||4.54||165||80||61.0||Expansion and definition of “J-Zone”|
|P17-27||12.2||21.3||9.1||2.11||210||85||342.9||Stratigraphic test hole to 342.9 m|
|P17-28||53.3||62.5||9.1||2.12||215||85||76.2||New “N-Zone” indicated|
|P17-29||25.9||29.0||3.0||12.60||215||85||76.2||New “N-Zone” indicated|
|P17-30||10.7||12.2||1.5||11.56||195||85||365.8||Stratigraphic test hole to 365.8 m|
|P17-31||0.0||2.3||2.3||12.51||192||85||76.2||New “K-Zone” indicated|
|P17-32||7.6||10.7||3.0||1.88||195||85||76.2||New “K-Zone” indicated|
|All results reported are length-weighted averages with no grade capping applied. Drill intercepts are for the actual drilled intercept length and may not represent true widths. Insufficient data currently exists to estimate true width. Note, From, To, and Length reported in meters, but converted from feet.|
A complete table of all Phase II drill intercepts can be found on the Company website here.
Importantly, the Company’s ongoing drill program continues to define new zones of near surface, high-grade, oxide gold mineralization as highlighted by the new K and N-Zone discoveries. Following up on work conducted earlier this year in the area of the northwest oriented M-Zone, Newrange previously announced the discovery of a high-grade northwest oriented gold zone now referred to as the Jack Zone (J-Zone) to the southwest of the M-Zone. The latest results have expanded the width and provided more geologic detail on the nature and extent of the J-Zone gold mineralization.
Overall, the Company’s drilling in the Merritt Discovery area confirms surface mapping and sampling results that define a northwest dominant structural control over a stockwork-like array of high, moderate and low angle structures within a highly variable, and therefore highly receptive and extensive sequence of volcanic host rocks.
The latest drill results, outlined in the table above, are part of an ongoing Phase II reverse circulation drill program targeting structurally controlled gold zones defined by the Newrange geologic team over the summer months of 2017. This work included extensive surface saw cut channel sampling and mapping in the Merritt area, as well as along trend. Recent results will be used to guide the ongoing drill program to test strike extensions of the newly recognized high-grade gold zones.
A Drill Hole Location and Geologic Map (Map 1) and Merritt Area Trend Map (Map 2) are available on the Company’s website here. A more complete assay table with the latest results, including detailed comments, is also available here.
Robert Carrington, Newrange President and CEO, commented that “Drilling has again demonstrated the outstanding grade and size potential for the Pamlico property, with the discovery of the K and N gold zones. With similar exploration success on the Pamlico Ridge Trend, or any of the five other similar targets on the property, we will have a tremendous new story emerging.”
Structure. The mineralized fault and fractures zones mapped and sampled in the Merritt and Pamlico Ridge areas are dominantly filled with iron oxides and/or minor quartz vein material. Thicknesses vary widely from hairline fractures up to zones of over two meters (~6.5 ft) in width depending on the size of the fault, host rock composition and proximity to other structures. Within the main mineralized corridors, fracture and fault density occurs as a stockwork system of orange, red and black iron oxide networks.
A NW fault set appears to be a dominant control in the Merritt exploration area, with secondary NE and E-W faulting and fracturing. The steeply dipping fault zones display variable continuity along strike depending on fault size and host rock characteristics. Both WNW and NW oriented veining is commonly iron oxide dominant, while NE directed structures are often associated with late quartz veining.
Another important class of veining is comprised of very low to moderate angle quartz veins and/or iron oxides occurring most prominently at significant changes in rock type (lithologic contacts). These zones are common throughout the Merritt target area starting at surface, and are often seen at both the upper and lower latite/rhyolite contacts due to apparent competency contrasts between the rock types. The highly variable stratigraphy results in multiple zones of competency contrast and highly favorable ground preparation. Most of the historic production in the district was from high-grade gold mineralization in low to moderate angle veining at rhyolite contacts with intermediate composition host rock volcanics (latites, andesites and dacites).
Host Rock (Lithology). Within the Merritt and Pamlico Ridge mineralized areas, mapping and drilling have identified alternating sequences of bi-modal volcanics composed of more resistant rhyolitic rocks and the intermediate latites, andesites and dacites noted above. Information provided by recent mapping and sampling of historic workings and other exposures, as well as recent drill hole logging, indicates that the intermediate rocks may be the best host for gold mineralization – especially closer to the contact with rhyolites. However, significant drill intercepts (i.e., over 15 g/T Au) have also been found well into the lower and upper rhyolites, suggesting that with strong enough “plumbing” any of the units can become viable hosts for gold mineralization.
The better mineralized rhyolites and latites noted above are covered to the north by a slightly younger volcanic unit comprised of mixed volcanic sediments and andesite flows (VS) as shown on the website geologic maps. This VS unit is also mineralized and locally contains high-grade quartz-gold veining, but is not considered a major host for gold mineralization as currently understood. In fact, the VS unit may conceal much better mineralized structures in underlying latites and rhyolites.
Drill holes P17-27 and P17-30 have been completed to depths of between 335 meters (1,100 ft) and 365 meters (1,200 ft) and are the deepest holes drilled on the property to date. While both drill holes intersected significant near surface gold mineralization, the primary objective of these holes is to determine whether additional favorable host rocks are present at depth. Detailed logging and studies including geochemistry are underway and will be released as they become available.
Drilling, Sampling and QA-QC. All drilling is by Reverse Circulation (RC) methods using a five inch diameter face-center recovery bit and is supervised by professional geologists. Samples are collected on either 1.52 meter (5 foot) or 0.76 meter (2 ½ foot) intervals with cuttings captured in a closed system cyclone, then riffle split in a three tiered Jones-type splitter, generating an average sample weight of 7.9 kilograms per sample. Samples were then securely delivered to one of three (Inspectorate, American Assay, or ALS) independent ISO/IEC 17025:2005 certified laboratories in Sparks, Nevada for preparation and analysis. Delivered samples were dried and 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 (FA) with atomic absorption finish. Samples assaying more than 100 grams g/T Au and random samples assaying more than 10 g/T Au are re-assayed using 50 gram FA with gravimetric finish. The Company inserts blanks, standards, and duplicates at a rate of approximately 1 in 30.
Terms of Reference
In this release, all references to grams per tonne (denoted g/T Au) are grams per metric ton of 1,000 kilograms (2,204.62 pounds).
Mr. Robert G. Carrington, P. Geo, a Qualified Person as defined by National Instrument 43-101, the President and CEO of the Company, has reviewed, verified and approved for disclosure the technical information contained in this news release.
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 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. 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
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
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.
FOR FURTHER INFORMATION CONTACT:
Email: [email protected]
Chief Financial Officer and Corporate Secretary
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