In a news release, Vancouver-based Newrange Gold Corp. (NRG:TSX.V; NRGOF:OTC) issued a status update regarding its ongoing reverse circulation drill program at its Pamlico Gold project in Nevada.
The firm noted that since the drill program kicked off in May, it has drilled approximately 6,540 meters in a total of 65 holes. Newrange Gold stated that it is still waiting to receive assay results from 26 of these holes.
The company noted that it switched rigs in September and since that time drilling has been proceeding well. Newrange Gold advised that "it has drilled seven holes in each of the Gold Box Canyon and Merritt areas, eight at the Good Hope Mine, six at the Gold Bar and Pamlico Mines and two on IP anomalies."
The company advised it is "taking a short hiatus in the drill program in order to compile the incoming results and plan a follow-up program." The company expects drilling to restart around December 5.
The firm indicated that the exact location and type of drilling to be undertaken will be decided after assay results have been analyzed and interpreted. The company stated that it anticipates that it will drill at least 3,000 additional meters in about 20 holes beginning on or about December 5. The firm stated that drilling in these holes is expected to range between 75 to 465 meters in depth to follow up on recent drilling and that several of these holes will be focused on testing the large Line 5 chargeability anomaly, which is located close to the center of the property.
The Pamlico project is located in Mineral County about 12 miles southeast of Hawthorne, Nevada. The project includes the Gold Bar, Good Hope, Sunset and Pamlico mine groups. The company noted that the property lies within one of Nevada's highest-grade gold districts that was first discovered in 1884 and because it has been mostly owned privately in the past, it has not been extensively explored utilizing modern methods.
Read what other experts are saying about:
Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Newrange Gold. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Newrange Gold, a company mentioned in this article.
