Where Exploration Intersects Discovery TSXV: NRG OTCQB: NRGOF Newrange Outlines Winter Drilling Program for Red Lake Projects
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Newrange Outlines Winter Drilling Program for Red Lake Projects
VANCOUVER, BRITISH COLUMBIA, January 24, 2022 (TSXV: NRG, US: NRGOF, Frankfurt: X6C)
– Newrange Gold Corp. ("Newrange" or the “Company") is pleased to provide further details on the
upcoming drill programs on its 100% owned North Birch and Argosy Gold Mine Projects northeast of
Red Lake, Ontario. At least 4,000 metres will be drill ed, split roughly evenly between the t wo projects,
starting at North Birch in early February.
“We believe that Newrange’s winter drill program on its North Birch and Argosy Gold Mine Projects will
be the largest in the Birch-Uchi Belt this year, outside of the nearby Springpole Deposit,” stated Robert
Archer, Newr ange’s President & CEO. “Our two projects complement each other very well in that
Argosy, being the largest past-producing gold mine in the belt , has known gold mineralization that is
open to depth, while North Birch holds the ‘blue sky’ potential for a significant new discovery.”
Iron formation host ed gold deposits occur in Precambrian rocks throughout the world and the 3,850-
hectare North Birch Project encompasses a folded and sheared iron formation (see Figure 1) that is
structurally similar to Newmont’s Musselwhite Mine, 185 kilometres to the northeast and the largest of
this class of deposits in Canada, with past production and reserves exceeding 7 million ounces (Ontario
Geological Survey and Newmont Corporation). The LiDAR survey that w as flown over the North Birch
Project last summer highlights a very clear break between two topographical domains that is interpreted
to reflect a shear zone (see Figure 2) that follows exactly along the trace of the main fold limb of the
iron formation and is at least eight kilometres long.
While iron formation can be an excellent physical and chemical trap and remains the primary target ,
structure is the key to gold mineralization and adjacent rock types may also be mineralized. This is the
case in the Pickle Lake District, in the next greenstone belt to the east of Birch-Uchi, which contains
several deposits hosting gold in iron formati on and adjacent rock s and has collectively produced 2.9
million ounces of gold since 1935 (MNDM archives). B oth the magnet ic and LiDAR surv eys at North
Birch highlight other structu res on the property that will require future follow up. Although gold
mineralization is known elsewhere on the property, the main iron formation horizon has never been
drill-tested as it lies under cover.
At present, five holes are planned along approximately three kilometres of strike on the main target
horizon. Additional holes will depend on the results from this first pass.
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Figure 1: Airborne magnetic map of the North Birch Property highlighting folded iron formation (in red/purple), gold showings
and primary target horizon for the 2022 drilling program
Figure 2: Digital Elevation Map (DEM) from the LiDAR survey on the North Birch Property highlighting topographic and
structural features and primary target horizon for the 2022 drilling program
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On the Argosy Gold Mine Project, the focus for the upcoming drilling will be on testing the depth extent
of known veins below the historic mine workings and testing for continuity on certain other veins that
were not previousl y mined. A total of 101,875 ounces of gold was produced at a grade of 12.7 g/t
between 1931 and 1952. Production came f rom two inclined shafts on multiple le vels but only to a
maximum vertical depth of 900 feet ( 274 metres). Holes drilled in 2003 -04 intersected gold
mineralization to a verti cal depth of 400 metres , including 10.46 g/t Au over 2.98 metres and 14.15 g/t
Au over 1.65 metres, indicating that mineralization continues to depth.
Although no detailed producti on data exists, the Company has compiled information from 72 historic
drill holes in conjunction with outlines of the underground mine workings to complete a preliminary 3D
Leapfrog model (see Figure 3 ) that is being used to assist in planning the upcoming drill program.
Further details on the planned holes will be provided once the process is complete.
Figure 3: 3D Leapfrog Model of the veins and historic underground workings on the Argosy Gold Mine Property. Click here to
see a short video representation.
Qualified Person
The technical content disclosed in this press release was reviewed and approved by David Hladky,
P.Geo., Senior Geologist for Newrange and a Q ualified Person as defi ned under National Instrument
43-101.
About Newrange Gold Corp.
Newrange is focused on district-scale exploration for precious metals in favorable jurisdictions including
Nevada and Ontario. The Company’s Pamlico Project in Nevada contains a large-scale multi-phase
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polymetallic mineralizing system with multiple gold and copper targets spread over more than 5,700
hectares. In t he pr olific Red Lake District of northwestern Ontario, the past-producing high-grade
Argosy Gold Mine is op en to depth, while the adjacent North Birch Project offers additional blue-sky
potential. F ocused on developi ng shareholder value through exploration and development of key
projects, the Com pany is committed to building sustai nable value for all stakeholders. Further
information can be found on our website at www.newrangegold.com.
Signed: “Robert Archer”
President & CEO
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 n ews release contain forwar d-looking information that invol ves inherent risk and uncertainty affecting the
business of Newrange Gold Corp. Actual results may differ materially from those currently anticipated in such statements.