Newrange Gold Corp. (NRG:TSX.V; NRGOF:OTC) announced in a news release that "it has discovered a new zone of gold mineralization at its Pamlico Gold Project in Nevada."
The company stated that hole P20-091 was drilled about 1,300 meters north-northeast of Pamlico Ridge with the objective of testing a near-surface Induced Polarization (IP) chargeability anomaly located near the historical Central and Sunset Mines. The firm noted that drilling at hole P20-091 intersected an 18.3 meter segment of 0.744 g/t Au contained within a larger envelope of 0.403 g/t Au over 51.8 meters. Newrange Gold indicated that the entire 213.4 meter interval that ranges from a depth of 122.0 meters to 335.4 meters is anomalous in gold, averaging 0.184 g/t Au.
The firm reported that at a depth of 115.85 meters there is a very sharp geochemical boundary where nearly every sample taken above that level showed little or no gold detected and almost every sample below it contained at least anomalous amounts of gold with the highest measuring 2.28 g/t Au.
Newrange Gold Corp.'s CEO Robert Archer commented, "This is a very exciting discovery...Every IP anomaly we have tested has intersected fine-grained pyrite, indicating that the method is working well and potentially outlining a district scale zone of propylitic alteration. Hole 91 is the closest to the large 'Line 5' IP chargeability anomaly and contains the most consistent gold and strongest alteration of any hole to date."
The firm added that holes P20-84 through P20-89 were drilled along the Pamlico Ridge target and down dip projections. The company advised that drilling at the majority of these holes intersected gold mineralization and one hole in particular, P20-88, demonstrated excellent continuity as it intersected 1.5 meters of 4.91 g/t Au within a larger 12.2 meter sample averaging 0.683 g/t Au in the projected target zone.
The company stated that as it announced previously, it will resume RC drilling around December 5, 2020. The firm advised that its management staff is now contemplating adding a second drill rig in order to follow up on this new discovery.
The firm noted though that other near-surface IP targets still remain that can be tested before undertaking more expensive deeper drilling to test the larger IP anomaly. The company explained that drilling the near-surface targets first will provide critical data that in turn will improve the interpretation and targeting of the later deeper drilling. The firm noted that the next phase could possibly begin in January 2021, although the design and scope of the program has not yet been fully mapped out.
The Pamlico project is located in Mineral County, 12 miles southeast of Hawthorne, Nevada. The project includes the Gold Bar, Good Hope, Sunset and Pamlico mine groups. The company stated that the property lies within one of Nevada's highest-grade gold districts.
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