Newrange Gold Corp (CVE:NRG) (OTCMKTS:NRGOF) updated investors Monday on drilling progress at its flagship Pamlico project in Nevada, which continues to show the "widespread nature of the gold mineralization" at its property.
The firm said 34 holes for 3,462 meters have been sunk so far in 2020, mostly along an 800 meter length of Pamlico Ridge between high-grade mineralization drilled in 2017 and the historic Gold Bar mine.
READ: Noble repeats Outperform rating on Newrange Gold following positive drilling results at Pamlico gold project
Recently, it became apparent that the drill rig being used was unsuitable for the terrain. A new contractor was hired with a more versatile, track-mounted rig and drilling resumed on September 19.
Today, the firm reported assays on 20 holes, with highlights including 0.535 grams per ton (g/t) gold over 4.6 meters starting at surface plus 0.113 g/t gold over 22.9 meters at a down hole depth of only 40 meters at Gold Box Canyon
Two angled holes tested the interpreted down-plunge extent of the high-grade zone, which was hit in 2017 near the Merritt Decline. One hit 5.96 g/t gold over 1.5 meters within 1.59 g/t gold over 9.1 meters (at 53.4 to 62.5 m depth).
"The aim of this program is to better understand the controls on the mineralization and to explore for new zones similar to those already known," said Robert Archer, Newrange's CEO.
"With the new drill rig, we anticipate being able to get on top of the Good Hope Mine at the south end of Pamlico Ridge where we sampled 13.89 g/t Au over 40 meters strike length and 12.48 g/t Au over 24 meters in the underground workings.
"Overall, the drilling is confirming the strong structural control and widespread nature of gold mineralization on the Pamlico property.
"The second half of the program will follow up on targets generated in the first half, complete the drilling at the Good Hope Mine and test the IP chargeability anomaly that extends for more than 1,000 meters through the central part of the property."
Newrange is a precious metals firm focused on near to intermediate term production opportunities in favorable jurisdictions including Nevada, Ontario and Colorado.
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