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Newrange Gold hails underground channel sampling findings at Pamlico project

Pamlico has a large footprint, covering 1,670 hectares, which also encompasses a past gold producing area, featuring old mine workings.

Newrange Gold Corp. -
Sampling confirmed continuous gold and silver mineralization between the 5570 and 5518 levels at Good Hope, the firm said

Newrange Gold Corp (CVE:NRG) unveiled encouraging results Wednesday from ongoing underground channel sampling at its Good Hope mine - part of the Pamlico project in Nevada, USA. 

The firm's Pamlico project has a large footprint, covering 1,670 hectares, which also encompasses a past gold producing area, featuring old mine workings. 

READ: Newrange Gold extends gold mineralization at Pamlico project in Nevada

Sampling has confirmed the existence of continuous gold and silver mineralization between the 5570 and 5518 levels at Good Hope, Newrange said in a statement.

The mineralization is defined by 58 samples ranging in grades from 0.017 grams per tonne (g/t) gold and 68 g/t of gold, the company said.

Results of sampling in stopes and raises between the two levels show a higher-grade core of mineralization averaging 4.08 g/t gold and 51.5 g/t silver, it added.

"Our underground sampling program at Pamlico is continuing to provide valuable information in an extremely cost-effective manner," said Robert Archer, Newrange's chief executive.

"The Good Hope Mine is the southernmost of, and on trend with, the principal past-producing mines along the 1.5 kilometer-long Pamlico Ridge.

"Although there are results still to come in from this mine, our crew has moved to the adjacent Gold Bar Mine where we have found visible gold in the historic dumps outside the portals. In addition to the geological information being obtained, the LIDAR surveying of the underground workings is providing accurate geospatial information that will help guide future drilling in this area."

LIDAR scans

At Pamlico so far, the firm has completed LIDAR scans of all accessible workings in the Merritt decline, Good Hope and Gold Bar mines, and the lower levels at Pamlico.

The upper levels of the mine and an area of workings referred to as the 'West Zone' remain to be surveyed. Channel sampling has been completed in the Merritt decline, the Good Hope mine and most of the lower levels of the Pamlico mine, with assays pending from several of the upper levels at Good Hope.

Also, the entire trend of mineralization along the sub-parallel Gold Box Canyon has yet to be surveyed and sampled, said Newrange.

Pamlico lies 12 miles southeast of Hawthorne, Nevada, along US Highway 95 and boasts excellent access and infrastructure and strong political support from Mineral County.

Newrange is earning into 100% of its flagship project via staged annual payments up to 2044.

Shares nipped up 3.45% in Toronto at C$0.15 each.

---Updates for share price---

Contact the author at [email protected]

Quick facts: Newrange Gold Corp.

Price: 0.09 CAD

TSX-V:NRG
Market: TSX-V
Market Cap: $10.13 m
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