Newrange Gold Corp (CVE:NRG) (OTCMKTS:NRGOF) told investors that drilling has kicked off at Gold Box Canyon at its flagship Pamlico site in Nevada, an area the firm believes has significant potential.
Preliminary underground mapping and sampling by the firm in the area has identified numerous mineralized structures in multiple historic mine workings and 67 chip-channel samples ranging from 0.4 to 2.4 metres (m) all contained highly anomalous gold ranging from 0.048 to 16.9 grams per ton (g/t) of the precious metal.
Last month, the firm reported in one hole a find of 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 40 metres depth at Gold Box.
"Gold mineralization in this area appears to be associated with a large, northwest trending, mid-amplitude IP anomaly that occurs at or near the surface along Pamlico Ridge and dips gently to the east and northeast beneath Gold Box Canyon for approximately 1,800 meters, Newrange said in a statement.
After dipping, the firm believes it then merges into a large, intense IP anomaly, which was originally identified in its 2019 IP Survey near the Central and Sunset mines.
Together the entire interpreted extent of the open-ended IP anomaly is more than 1.2 by 3.3 km and is currently limited only by the extent of the firm's survey.
"Management is of the opinion that Gold Box Canyon represents significant upside to the exploration potential at Pamlico and is developing plans to further evaluate this important area. To that end, seven holes are planned to test potential dilatant structures in the Canyon bottom, and additional holes to test mineralization extending beneath the rhyolite / latite contact zone," Newrange told investors.
Newrange is earning into 100% of Pamlico, which lies along US Highway 95, via staged annual payments up to 2044. There are around 8,000m of tunnels scattered throughout the district and 300 adits (entrances) in the old workings but no maps and data.
It is home to a past gold producing area (with old mine workings) but has been unexplored and in private hands (three families) since 1896 so it has seen almost no modern exploration techniques.
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