Resource World Magazine

62 www.resourceworld.com A U G U S T / S E P T E M B E R 2 0 1 7 NEWRANGE GOLD CORP. [NRG-TSXV; CMBPF-OTC; X6C-FSE] recently tabled some eyebrow-raising drill results from its Pamlico gold project in Nevada. These latest drill results continue to define and expand gold mineralization around the two key target areas known as the Merritt Zone and Merritt Decline. The Pamlico Project is just 12 miles southeast of Hawthorne along US Highway 95. The project covers the historic Pamlico group of mines, as well as the nearby Good Hope, Central, Gold Bar and Sunset historic mines. This group of mines was originally discovered in 1884 and became a prolific gold producing district. The mines were held by private interest for most of their history and, as a result, remain under explored in terms of mod- ern exploration. There is no documented geophysical or soil geochemical surveys and only 103 drill holes totaling 27,838 feet (8,487 metres) scattered across the 1,200-hectare property. Newrange acquired an option to acquire a 100% interest in the property in 2016 when the previous owner's failing health forced the sale of the project. The option deal is worth US $7.5 million in cash pay- ments with a minimum of US $250,000 payments per year. This can be reduced to US $4 million in cash if the option is exer- cised and paid within four years. The deal is subject to a 4% NSR (3% of which can be purchased for a total of US $3 million at any point). In 2013, the seller permitted and constructed a modern, trackless, 188-metre-long, decline for test mining of high-grade mineralization they had pre- viously identified by drilling. However, the decline was never systematically sampled. Newrange sampled the decline and identified multiple high-grade struc- tures assaying from 28.90 g/t gold over 1.5 metres to 104.75 g/t gold over 1.5 metres within an extensive zone of disseminated mineralization averaging 2.92 g/t gold over 75.5 metres in the decline. As a result, the exploration target changed from a strictly narrow high-grade gold vein system to a large disseminated gold system cut by numerous high-grade veins. Newrange began a Phase I drill- ing campaign at Pamlico in May this year and results have, so far, been very posi- tive. Mineralization has been identified between the Merritt decline and the high- grade intercepts from drilling in Merritt Zone by previous operators. This would indicate a mineralized zone approximately 100 to 130 metres wide that is open ended along strike. Highlights from the most recent drill results include; • Hole P17-17 intersected an 0.8-metre interval assaying 244.3 g/t gold. This is the company's second highest grade drill intercept to date, and is included within a broader interval of 4.6 metres averaging 43.8 g/t gold starting from just 8.4 metres down-hole. • Hole P17-12 also intersected high-grade shallow mineralization and extended the known limits of mineralization more than 35 metres west of previous drilling. It cut 4.6 metres averaging 14.5 g/t gold within a broader interval of 13.7 metres averaging 6.0 g/t gold. This intercept is at an approx- imate vertical depth of 40 metres from the surface (58 metres down-hole). • Hole P17-18 intersected 2.3 metres aver- aging 58.5 g/t gold within a 9.9-metre interval averaging 15.27 g/t gold starting 54.1 metres down-hole. • Holes P17-13, 14 and 15 all contain sig- nificant intercepts of disseminated, lower grade mineralization, confirming and expanding the extent of "halo" gold min- eralization more than 30 metres south of the decline. Notably, this recent drilling intersected high-grade, oxide mineralization above the Merritt Zone, expanding the zone's shallow potential. This potential was previously overlooked because historic drilling was not assayed from the surface to a depth of 55 metres. "These results indicate that Pamlico is a unique, high-potential opportunity for Newrange Gold," said Robert Carrington, President and CEO. "The extremely rich Merritt Zone, where we are focusing our initial exploration efforts right now, is one of five similar target areas, covering only 1/2 of 1% of this property and less than 1/10 of 1% of the combined strike extent of the more than 300 known veins and mineralized structures on the prop- erty. The knowledge gained in this area will guide future exploration for several similar target areas elsewhere on the prop- erty including the Gold Box, Central and Sunset Mine Zones." With these results in hand, Newrange recently staked an additional 111 claims (adding 982 hectares to its land position), increasing it by 75% to 2,165 hectares. The company states that it now controls the dominant gold trends in the area. The company is now completing detailed down-hole surveys and structural analyses of the completed drill holes utiliz- ing the OBI Down Hole Televiewer. This state-of-the-art, high resolution, down- hole imagery provides detailed, oriented, structural data from Reverse Circulation holes equal to or better than that from ori- ented core. Newrange Gold has 64.4 million shares outstanding and a market capitalization of about $34 million. The company raised $1.5 million in April. n Newrange expands Pamlico high-grade mineralization by Thomas Schuster MINING

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