Newrange Gold Corp (CVE:NRG) (OTCMKTS:NRGOF) (FRA:X6C) said on Tuesday that the expanded Induced Polarization (IP) survey on its Pamlico Project in mining-friendly Nevada had been successfully completed, and it was “prudent to enlarge the property to cover as much of the new anomalies as possible."
The precious metals exploration company said the new survey comprised 56.35-line kilometers (km), bringing the total, including the 2019-20 survey, to more than 76.5-line kilometers, covering the entire property.
“Three large areas of anomalous chargeability were detected, all of which encroached on the property boundary, such that the company has staked additional ground, more than doubling the size of the property,” the company said in a statement.
READ: Newrange Gold encounters high-grade gold mineralization outside of Merritt Zone on Pamlico project
Newrange added that the ultimate size will depend upon an “ongoing assessment of the new anomalies and the geological setting and prospectivity of each.”
“The new IP survey has been highly successful in not only further defining and extending the known anomalies but has identified others of potential significance,” Newrange CEO Robert Archer said in a statement.
“All three anomalous zones, the Northwest, East and Southeast Areas, are 2-3 kilometers in size and each contains more than one discrete zone of high chargeability. Collectively, they reflect a district-scale cluster extending approximately five kilometers east-west and more than six kilometers north-south. For this reason, we considered it prudent to enlarge the property to cover as much of the new anomalies as possible,” he added.
Archer emphasized that the Northwest Area contains the previous ‘Line 5’ anomaly that Newrange has interpreted to be related to gold mineralization in the Merritt and ‘91’ Zones and the historic mines along Pamlico Ridge.
“The Southeast Area covers our previously identified Skarn Zone, while the East Area is new and may be related to the Southeast Area anomalies,” added Archer. “Our new exploration model is being updated to incorporate these results and fieldwork has been expanded to include mapping, prospecting and soil sampling of the anomalous areas.”
Given the association of gold mineralization with oxidized fine-grained sulfides at Pamlico, IP has been critical in detecting remnant pyrite below the oxidation level, said the company.
According to Newrange, the identification of several large IP anomalies in the Pamlico area is “highly encouraging” as these could be the “manifestation of extensive pyrite mineralization that, in turn, could be related to the gold mineralization in the district.”
Meanwhile, the company is gearing up to recommence the Reverse Circulation (RC) drilling program to follow up on the discovery of high-grade gold mineralization just east of the Merritt Zone and to initiate a diamond drilling program. The program will consist of at least 5 holes around 2,500 meters and will initially test the deep chargeability anomalies in the ‘91’ Zone area and the Skarn Zone. It is likely that this program will be expanded, said the company.
Discovered in 1884, the Pamlico District enjoys a reputation for being one of Nevada’s highest-grade districts. A new geological model being developed for the Pamlico Project by Newrange suggests that past production may be just the exposed manifestation of a much larger, and mostly buried, gold-bearing system.
The Pamlico project located 12 miles southeast of Hawthorne, in Nevada along US Highway 95, enjoys excellent access and infrastructure.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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