Monday, September 16, 2019

Newrange Gold Profile

Newrange Gold Corp. (TSXV: NRG) diversified into the United States in 2016 by acquiring the high-grade Pamlico gold project in Nevada. The project is unique in that it is district-scale and nearly unexplored, with multi-million ounce potential in the legendary Walker Lane trend of Nevada. The company is led by a team of successful company builders and mine finders. With over 100 years of combined Nevada exploration experience they have been involved in the discovery of 60+M oz gold and 200+ M ozs silver. The Pamlico Project will see significant exploration throughout 2019.

Newrange Gold
Stock SymbolTSX.V: NRG, OTC: NRGOF
SEDAR ProfileSEDAR - Newrange Gold Corp.
Investor DeckCorporate Presentation
Company ProjectsPamlico Gold Project

Unique, almost unexplored opportunity in Nevada (in private hands since 1896)
District scale (1,670 hectares)
High-grade, drill-confirmed, gold discovery

Newrange Gold’s exploration work for 2019 will continue to focus on the Company’s flagship high-grade Pamlico gold project located in Nevada’s Walker Lane with more target definition and reverse circulation (RC) drilling. Results to date have been highly successful, confirming district-scale gold discovery potential.

The Pamlico Project is a high-grade epithermal gold system hosted in Jurassic to Tertiary age volcanic and sedimentary rocks. Located in pro-mining Mineral County, Nevada, Pamlico is situated in the western Great Basin within the NW trending Walker Lane structural zone along the intersecting EW trending Pancake Range Lineament. A modern 600 foot decline was recently completed to develop a high-grade, drill delineated gold mineralization zone for test mining and recovery of gold. Two previously unidentified, coarse gold bearing structures were discovered in the decline and remain to be defined and explored.

The project covers the historic Pamlico Mines on Pamlico Ridge, together with the Central, Sunset, Good Hope, Gold Bar and various unnamed mines and prospects. Discovered about 1884, reports indicate that by 1886 the district was shipping ore to custom mills, most likely at the Aurora and Comstock (Virginia) Districts. A 20 stamp mill was constructed in 1888 / 1889 and operated through 1931. Drilling by the previous operators and owners intersected very high-grade mineralization as indicated by hole 99-3 that intercepted 4.6 meters grading 239.7 grams per metric tonne gold (g/T Au) and included 0.8 meters assaying 702.5 g/T Au in the Merritt Zone (Table 3). Check assays of representative intervals by an independent laboratory were reviewed and it corroborated reported grades.

The project is underexplored in terms of modern exploration with no property wide geology, geochemistry or geophysics done and with only 103 shallow holes drilled on the entire property when acquired in July 2016 by Newrange. Some 300 separate, historic mine workings mostly developed during the late 1800’s explore up to 100 individual veins. Pamlico’s history mimics the early history at currently producing high-grade gold mines in Nevada including the Ken Snyder (Midas) and nearby Fire Creek mines, both operated by Klondex Mines Ltd.

Based on the extent and the high grade of the gold mineralization in historic surface and underground samples, the high-grade nature of historic gold production and available drill results, the Pamlico Project represents a unique opportunity to explore and develop a district scale, near surface, potentially high-grade gold deposit in multiple target areas across the property with small scale gold recovery potential from the current permits in place for test mining from the Merritt Decline.

There are multiple targets and target types evident at Pamlico, including:

1) Shallow, high-grade intersections such as the Merritt Zone including extensions along strike and up and down dip,
2) Large, potentially high-grade targets representing intersections of vein “swarms” which are projected to intersect at depth,
3) High-grade veins and mineralized structures indicated by numerous surface rock chip samples assaying from 29.8 g/T to 99.8 g/T Au,
4) Potential high-grade veins associated with the more or less EW trending Pancake Range Lineament exemplified by mineralization assaying 684 g/T Au in a historic grab sample from a vein trending approximately E-NE,
5) Downward projections of gold bearing structures into more favorable brittle volcanic units that host mineralization at Pamlico Ridge as they dip easterly beneath the younger carbonate sediments,
6) Potential high-grade replacement bodies in the brecciated contact zones between weak sediments and competent underlying volcanic rocks,
7) Potential high-grade veins, replacement bodies and disseminated, sediment hosted gold mineralization in the carbonate sediments of the Luning Formation,
8) Deep Seated gold – copper porphyry mineralization as indicated by district scale alteration, geochemistry and regional airborne magnetometry.

El Dovio, Colombia

Project Summary

Newrange holds 100% undivided interests in the mineral licences that cover all potential mineralization at El Dovio and has purchased 100% of the surface rights covering the same ground at El Dovio. In October 2018, the Company has entered into a Joint Venture Option Agreement with Andean Mining Pty. Ltd. of Australia whereby Andean Mining can earn an undivided 65% in the El Dovio Project for cash and shares payments plus exploration work commitments. The property covers high-grade polymetallic gold-silver-copper-zinc mineralization in a belt of marine volcano-sedimentary rocks known to host other polymetallic and Volcanogenic Massive Sulfide (VMS) prospects and mines. Exploration at El Dovio indicates significant potential to discover deposits with high unit value and low metal prices sensitivity.

Work by Newrange has materially expanded the strike of known mineralization at El Dovio and identifies a zone hosting high-grade polymetallic mineralization ranging from 10 to 68 meters wide in outcrop and approximately 1 kilometer long that has locally been traced down dip more than 120 meters below outcrop with current drilling. Mineralization remains open to extension on strike and to depth. Prospect drilling in the Brazo 1 area of the property intersected fine grained bedded sulfides consisting of pyrite with trace amounts of sphalerite and chalcopyrite in an exhalative horizon, confirming the presence of a VMS target on the property.
Location and Mining History

The El Dovio project, is situated in the municipalities of El Dovio (Department of Valle del Cauca) and Sipi (Department of Choco) in the western range of the Colombian Andes at an elevation of approximately 1,400 meters. The El Dovio mineral licenses are 100% owned by Newrange, covering 10,106 hectares. Outcropping mineralization in what is now known as the Sabana Blanca zone was first discovered in 1974 but lack of access prevented exploration until the 1980’s when a road was built to the nearby hamlet of Lituania. In 1988, a short exploration adit was driven on high-grade mineralization in Quebrada Soberana (Soberana Creek) and between 1991 and 1993, 691 meters of small diameter A and B diameter core was drilled in 15 shallow holes. Less than 41 meters of that core was ever assayed. That work returned values averaging 5.05 g/t gold, 24.1 g/t silver, 2.14% copper and 2.00% zinc, over widths ranging from three to fifteen meters in surface, underground and drill exposures.

Work by Newrange is expanding on these results with geological mapping, geochemical and geophysical surveys and diamond core drilling. This work traces mineralization in the feeder or “stringer” zone for approximately one kilometer along strike and has identified a highly prospective bedded sulfide horizon at the Brazo 1 target zone.

New Range Presentation

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