Newrange Gold Provides Pamlico Exploration Update
and Grants Stock Options
VANCOUVER, BRITISH COLUMBIA, January 16, 2019 (TSXV: NRG, US: NRGOF, Frankfurt: X6C) – Newrange Gold Corp. (“Newrange” or the “Company”) is pleased to provide the following update on the Company’s exploration activities at its high-grade Pamlico Gold Project, Nevada.
- Underground Sampling, Mapping and Surveying
- More than 300 channel samples from multiple underground levels have been submitted to American Assay Laboratories of Sparks, Nevada for fire assay and are in various stages of preparation and analysis at the laboratory. First results are expected within the next two weeks.
- More than 200 additional channel samples are being logged and described at Pamlico and will be shipped to the laboratory when ready. Additional samples are being generated daily as crews progress sequentially through the multiple mine workings.
- A state of the art GeoSlam Horizon handheld LIDAR scanner is being used to generate a 3D model of the approximately 8,000 metres of underground workings at Pamlico. This new technology is significantly faster and cheaper than conventional surveying and will provide sub-centimetre accuracy for the sampling. Once complete, this will allow the underground assays to be used in a resource estimate and aid in the placement of surface drill holes so as to avoid the underground workings.
- Core Drilling
- AK Drilling of Bozeman, Montana completed four large diameter (PQ) diamond core holes at Pamlico during Q4 2018. Three of the holes “twinned” some of the Company’s previous reverse circulation (RC) drilling and one hole was a step out, testing projections of known gold mineralization. The twinned holes will give a direct comparison to assays obtained from the RC drilling and help to determine whether the latter might have been under-reporting fine gold. In addition, the new structural information gleaned from the core will be invaluable in the interpretation of the controls on gold mineralization.
- The first hole has been logged, diamond saw cut, sampled and delivered to American Assay for analysis. Results are anticipated within a couple of weeks. The remaining holes are in various stages of being logged, cut and sampled.
- Metallurgical Sampling
- The Company has composited stored coarse rejects for bottle roll tests at McClelland Laboratories of Sparks, Nevada. The results of these tests, expected in 4-6 weeks, will build on the shake assay tests completed in December 2018 that indicated a strong amenability for heap leaching.
Mr. Robert G. Carrington, P. Geo, a Qualified Person as defined by National Instrument 43-101 and the President and Chairman of the Company, has reviewed, verified and approved for disclosure, the technical information contained in this news release.
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.
Stock Option Grant
The Company has granted a total of 637,000 incentive stock options to officers and employees of the Company. The options were granted pursuant to the Company’s Stock Option Plan, at a price of $0.20, and expire on January 15, 2021.
Interested parties are invited to visit the Company at the following events and take the opportunity to speak with management.
Metal Investors Forum
January 18 and 19, Rosewood Hotel Georgia, 801 W. Georgia Street, Vancouver, BC.
March 4 and 5, Metro Toronto Convention Centre, Toronto, On., Booth 2415A
About Newrange Gold Corp.
Newrange is an aggressive exploration and development company focused on near to intermediate term production opportunities in favorable jurisdictions including Nevada, Colorado and Colombia. With numerous drill intercepts of near surface oxide gold mineralization up to 340 grams gold per metric tonne the Company’s flagship Pamlico Project is poised to become a significant new Nevada discovery. 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.
Signed: “Robert A. Archer”
CEO and Director
For further information contact:
Sharon Hebgin Dave Cross
Corporate Communications Chief Financial Officer and Corporate Secretary
Phone: 760-898-9129 Phone: 604-669-0868
Email: firstname.lastname@example.org Email: email@example.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.