Movers and SHAKERS
Newrange Gold Updates Drill Program at Pamlio Project
VANCOUVER, BRITISH COLUMBIA, November 12, 2020 (TSXV: NRG, US: NRGOF, Frankfurt: X6C) – Newrange Gold Corp. (“Newrange” or the “Company”) is pleased to provide an update on the reverse circulation (RC) drill program at the Pamlico Gold Project in Nevada. Since commencing the program in late May, the Company has drilled 65 holes (including two that had to be re-drilled) for a total of 6,538.04 meters. Assay results for the last 26 of these holes are still pending. Given this backlog of assays, the Company is taking a short hiatus in the drill program in order to compile the incoming results and plan a follow-up program.
Since switching rigs in September, drilling has been going well and the Company 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 detailed location of upcoming holes, meters to be drilled and the relative amounts of RC versus diamond drilling will be determined once assay results have been interpreted. However, the Company expects to drill at least another 3,000 meters in approximately 20 holes that range in depth from 75 to 465 meters, following up on the recent drilling and with multiple holes planned to test the large Line 5 chargeability anomaly near the center of the property. It is anticipated that drilling will recommence on or about December 5.
Located 12 miles southeast of Hawthorne, Nevada, along US Highway 95, the project enjoys 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, 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 a precious metals exploration and development company focused on near to intermediate term production opportunities in favorable jurisdictions including Nevada, Ontario and Colorado. With numerous drill intercepts of near surface oxide gold mineralization to 340 grams gold per metric tonne, the Company’s flagship Pamlico Project is poised to become a significant new Nevada discovery. 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:
Chief Financial Officer and Corporate Secretary
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.