(TheNewswire)
Vancouver, British Columbia - TheNewswire - June 14, 2021 (TSXV:NRG) (OTC:NRGOF) (Frankfurt:X6C) - Newrange Gold Corp. ("Newrange" or the “Company") is pleased to announce that preliminary surface rock sampling and mapping in the McGill Canyon area of the Pamlico Project has identified widespread gold mineralization and local concentrations of copper, lead and zinc associated with skarn alteration. This skarn hosted mineralization is coincident with a much larger Induced Polarization (IP) chargeability anomaly interpreted to be at least 5.5 kilometers long and, in the area sampled, more than 1.5 kilometers wide.
Of particular interest is the occurrence of an altered porphyry dike with weak to moderate potassic alteration, evidenced by abundant secondary biotite, grading 2.994 grams gold per metric tonne (g/t Au) and 0.115 percent copper (% Cu). Of the 42 rock chip samples collected from outcrop in the McGill Canyon area, 16 were identified as skarn altered carbonate sediments, 11 of which contained gold mineralization grading from 0.106 g/t Au to 1.969 g/t Au. The results cover an area roughly 1.5 kilometers long and 750 meters wide that appears to remain open to expansion.
The average copper content of all 42 samples was 2,072 ppm or 0.207% Cu within a range of 88 to 19,600 ppm Cu (0.009 to 1.96%), with four samples grading more than 1.0%. One sample of quartz breccia with oxidized sulfides returned 1.7 g/t gold, 147 g/t silver, 2.45% lead and 4.96% zinc. Three other samples returned 1-2% zinc.
“These results from reconnaissance sampling are extremely encouraging,” stated Robert Archer, CEO of Newrange. “We had previously identified this area as having potential to host skarn type mineralization and the completion of the recent, expanded IP survey showing a strong chargeability anomaly here underscores this potential. The identification of a mineralized and altered porphyry dike is also the first direct indication we have seen of a possible porphyry relationship. With Kennecott drilling a porphyry target just 30 kilometers east of us and the Yerington Mine approximately 90 kilometers to the northwest, we are certainly in the right geological environment.”
The McGill Canyon area lies a little more than 5 kilometers to the south-southeast of the Pamlico Ridge target zone. As currently known, the geology of the prospective area in McGill Canyon is dominated by weak to intensely metamorphosed carbonate sediments that are typically overlain by, and possibly interlayered with, silici-clastic to volcano-clastic sediments that commonly have been metamorphosed to hornfels, all of which are in turn overlain by younger volcanic, paleo-fluvial and alluvial formations that appear to postdate mineralization. Sample results and observed alteration in the metamorphosed sediments are indicative of an intrusive, possibly porphyry related gold-copper mineralized skarn system.
Other Geochemistry
Geochemically, in order of affinity, zinc, cadmium, lead, lanthanum, barium and silver showed moderate to strong positive correlations with gold. Of interest is the total lack of mercury in these samples, which all reported as less than detection limit. Mercury is a common “pathfinder” element typical of most epithermal systems in the Western US and the world. The higher temperature intrusive related gold systems tend to lack mercury as a constituent element.
The area sampled is largely coincident with a large, intense chargeability anomaly identified in the Company’s recent IP survey as announced March 23, 2021 and now expanded further. The scale and intensity of the IP anomaly together with observed surface alteration and these geochemical results strongly support the interpretation that mineralization, at least in this portion of the Pamlico project, is intrusive related.
The Company has already permitted a number of “scout” drill sites in the McGill Canyon area and will be conducting initial drilling there within the currently budgeted drill program.
Claim Staking Activity
As previously reported (March 23, 2021) the Company expanded the property through staking due to preliminary results from the ongoing IP survey. As a result, 419 additional lode claims covering more than 3,200 hectares have been registered, more than doubling the initial property size to more than 5,700 hectares. The new claims cover extensions of the IP anomaly, where future mapping and sampling will explore for additional skarn and intrusive related mineralization.
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 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.
Recent exploration by the Company has identified the potential for district-scale skarn and porphyry related mineralizing systems.
Newrange is focused on district-scale exploration for precious metals in favorable jurisdictions including Nevada, Ontario and Colorado. With locally high-grade, near surface oxide gold mineralization, the Company’s flagship Pamlico Project is poised to become a significant new Nevada discovery, while the North Birch Project offers additional blue-sky potential in the prolific Red Lake District. 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.
CEO & Director
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: info@newrangegold.com
Email: dcross@crossdavis.com
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.
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.
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