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Newrange says tests at Pamlico gold project in Nevada indicate consistent mineralization

Last updated: 14:22 11 Dec 2018 EST, First published: 14:04 11 Dec 2018 EST

Gold bars and US$100 bills
Newrange is encouraged by mineralization tests at the Pamlico gold projct in Nevada

Newrange Gold Corp (CVE:NRG) (OTCMKTS:NRGOF) said Tuesday that mineralization tests at the Pamlico gold project in Nevada indicate highly consistent extraction of gold.

The Vancouver-based company said in a press release that it’s making progress toward reporting a resource estimate for Pamlico in the second half of 2019.

BIG PICTURE: Newrange Gold primed and poised to hit the ground at Pamlico project in mining friendly Nevada

Newrange added that the results of 239 samples submitted for cold cyanide shake assays indicate that the metallurgical response of gold mineralization at Pamlico is independent of location or depth and does not exhibit any adverse "refractory" characteristics.

"I am extremely pleased with these results as they exceed my expectations for both amenability to extraction and consistency of metallurgical characteristics throughout the zone of mineralization,” Newrange CEO Robert Carrington said in a statement. “This supports my long-held opinion that there are no significant metallurgical challenges.”

Of the 239 samples, 40 were 0.76 meters long and 199 were 1.52 meters in length, according to Newrange.

Cold cyanide shake assays are widely used in the mining industry to assess mineralization.

Shares of Newrange climbed C$0.01 to C$0.14 in Tuesday’s Canadian trading. .

Discovered in 1884, Pamlico became known as one of Nevada's highest-grade gold districts. The area was held by private interests for more than a century until Newrange acquired it in 2016.

 

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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