Where Exploration Intersects Discovery TSXV: NRG OTCQB: NRGOF Newrange Discovers New Gold Zone at Pamlico Project with Implications for Porphyry-Related Mineralization
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Where Exploration Intersects Discovery TSXV: NRG OTCQB: NRGOF
Newrange Discovers New Gold Zone at Pamlico Project with Implications
for Porphyry-Related Mineralization
VANCOUVER, BRITISH COLUMBIA, December 1, 2020 (TSXV: NRG, US: NRGOF, Frankfurt: X6C)
– Newrange Gold Corp. ("Newrange" or the “ Company") is pl eased to announce that it has
discovered a new zone of gold mineralization at its Pamlico Gold Project in Nevada . Hole P20-091,
drilled more than 1,300 meters north-northeast of Pamlico Ridge (see map here for drill hole locations)
to test a near -surface Induced Po larization ( IP) chargeability anomaly near the historic Central and
Sunset Mines, intersected 0.744 grams gold per metric tonne ( g/t Au) over 18.3 meters, within a larger
envelope of 0.4 03 g/t Au over 51.8 meters. Importantly, the entire interva l from 122.0 meters to the
bottom of the hole at 335. 4 meters is anomalous in gold, averaging 0.1 84 g/t Au over those 21 3.4
meters.
There is a very s harp geochemical boundary at 115.85 meters , with almost every sample above that
being below the assay detection limit and almost every sample below it containing at least anomalous
amounts of gold , with the highest at 2. 28 g/t Au. Hole P20-090, drilled on another IP anomaly about
207 meters to the south of 91, was abandoned in highly brecciated rock at 216.5 meters and contained
some anomalous gold below 165 meters that was lower grade and less consistent than in hole 91. In
both holes, gold is hosted in a volcano-sedimentary unit and is believed to reflect a zone of alteration,
possibly peripheral to a buried porphyry. The mineralized rock is variably silicified and sericitized, with
1-2% very fine-grained pyrite below 170 meters (the pyrite is oxidized above this level).
Elsewhere in the district, drilling has shown this volcano -sedimentary unit to b e less recept ive to
mineralization than the rhyolite and latite tuffs known to underlie it, suggesting the ‘Line 5’ IP anomaly
may be closer to or reflect the source mineralization for the entire district. The Company considers it
likely that a buried porphyry system is the heat engine that drove fluid migration and mineralization
throughout the Pamlico district including the gold mineralization in the nearby Central and Sunset mines
as well as the mines along Pamlico Ridge.
“This is a very exciting discovery,” stated Robert Archer, Newrange’s CEO. “Every IP anomaly we have
tested has inters ected fine -grained pyrite, indicating that the method is working well and potentially
outlining a district scale zo ne of propylitic alteration . Hole 91 is the closest to the large ‘Line 5’ IP
chargeability anomaly (see IP pseudo -section here) and contains the most consistent gold and
strongest alteration of any hole to date . While we will obviously need more drilling to confirm our
theory, we ar e currently interpreting this new dis covery to represent distal mineralization related to a
510 - 580 Hornby Street, Vancouver, BC V6C 3B6 - Tel. (604) 669 - 0868 Fax (604) 558 - 4200
Where Exploration Intersects Discovery TSXV: NRG OTCQB: NRGOF
large porphyry system, reflected by the main IP anomaly that is up to one kilometer across and open to
the north and south.”
Holes P20-84 through 89 were drilled along the Pamlico Ridge target and down dip projections of it,
most intersecting gold mineralization. Importantly, hole P20-88 was drilled 55 meters northeast of hole
P20-53 to test the down dip projection of mineralization encountered in that hole (1.5 meters of 5.271
g/t Au within 15.2 meters of 1.194 g/t). Hole 88 intersected 1.5 meters assaying 4.91 g/t Au within 12.2
meters averaging 0.683 g/t Au in the projected target zone , demonstrating excellent continuity. The
table below presents summary data for holes P20-84 through P20-91.
Hole From (m) To (m) Interval
(m) Au g/t Ag g/t Easting Northing Az. Incl. TD (m)
P20-84 67.1 71.6 4.5 0.786 4.30 371512 4257151 050 -70 152.4
P20-85 80.8 82.3 1.5 4.290 3.90 371512 4257151 050 -45 189.0
P20-86 1.5 6.1 4.6 0.424 1.53 371353 4257348 -90 91.5
Including 21.3 32.0 10.7 0.269 3.11
P20-87 6.1 12.2 6.1 0.355 0.56 371413 4257323 -90 91.5
P20-88 73.2 79.3 6.1 0.377 7.63 371467 4257423 -90 213.4
134.1 146.3 12.2 0.683 6.60
Including 138.7 140.2 1.5 4.910 12.90
P20-89 No Significant Intercepts 371281 4257409 -90 91.5
P20-90 Anomalous gold; hole abandoned in breccia 371923 4258434 074 -75 216.5
P20-91 122.0 335.4 213.4 0.184 0.78 371963 4258640 075 -55 335.4
Including 122.0 204.3 82.3 0.294 0.42
Including 137.2 189.0 51.8 0.403 0.45
Including 170.7 189.0 18.3 0.744 0.27
Including 282.0 297.3 15.3 0.275 0.81
Including 285.1 292.7 7.6 0.471 0.70
As previously announced, RC drilling will resume on or about December 5 and management is looking
into the possibility of adding a second drill rig to follow up on this new discovery. There are still other
near-surface IP targets that can be tested before initiating the more expensive deeper drilling to test the
larger IP anomaly. Drilling the near -surface targets will p rovide critical informat ion and improve the
interpretation and targeting of the deeper drilling, which could start as early as January. The size of
that program has yet to be determined.
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Where Exploration Intersects Discovery TSXV: NRG OTCQB: NRGOF
Quality Assurance/Quality Control
Mr. Robert G. Carr ington, P. Geo, a Qualified Person as de fined by National Instrument 43 -101, the
President and Chairman of the Company, has reviewed, verified and approved for disclosure the
technical information contained in this news release. All drilling was conducted by Reverse Circulation
(RC) methods usin g a five -inch diameter center return bit. All drilling was supervised by professional
geologists. Samples were collected on 1.5 meter (5 foot) intervals. Drill cuttings were captured in a
vacuum augmented, closed system cyclone, then riffle split in a t hree-tiered Jones -type
splitter. Samples were then securely stored and delivered to Paragon Geochemical Laboratories in
Sparks, Nevada for sample preparation and analysis. Samples were dried then stage crushed to 80 %
passing 10 mesh. A 300 gram sub-sample was then split out and pulverized to 90% passing 140 mesh
from which 1 Assay Ton, approximately 30 gram samples were split for analysis by fire assay (FA) with
an OES finish. Samples assaying in excess of 5 g/t Au were re-assayed by fire assay with a
gravimetric finish. Silver was determined by fire assay with an atomic absorption finish. In addition to
the QA – QC conducted by the laboratory, the Company inserts blanks, standards and certified
reference material (CRM) at a rate of not less than 1 in 2 0. Duplicate samples are collected for all drill
samples and are submitted at a rate of 1 in 40.
About Pamlico
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 Sunse t
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
510 - 580 Hornby Street, Vancouver, BC V6C 3B6 - Tel. (604) 669 - 0868 Fax (604) 558 - 4200
Where Exploration Intersects Discovery TSXV: NRG OTCQB: NRGOF
FOR FURTHER INFORMATION CONTACT:
Sharon Fleming Dave Cross
Corporate Communications Chief Financial Officer and Corporate Secretary
Phone: 760-898-9129 Phone: 604-669-0868
Email: [email protected] Email: [email protected]
Website: www.newrangegold.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.