Newrange Gold Corp has announced that its geologists have identified a multi-phase intrusive system with locally “strong” copper +/- zinc mineralization at surface on its Pamlico project in Nevada.
In a year-end update, the company said the discovery was within the recently-enlarged property, now covering an area of more than 5,700 hectares, which has seen little to no previous exploration.
“Our field geologists are making great progress on the evaluation and understanding of the geological setting of the enlarged property,” Newrange Gold CEO Robert Archer said in a statement.
READ: Newrange Gold closes acquisition of past-producing, high-grade Argosy Gold Mine in Ontario
“We are starting to build a district-scale framework for the gold and copper mineralization that we are seeing, incorporating a re-evaluation of known zones with recently discovered ones. This approach is allowing us to groom several significant target areas for drilling in 2022,” Archer added.
Newrange noted the discovery follows ongoing mapping, rock and soil sampling, in conjunction with the expanded induced polarization (IP) survey, which is building upon the knowledge base that was previously confined to the historic Pamlico Mines area.
It added that property-wide mapping and rock sampling is ongoing and the following target areas are being prioritized for drilling in 2022: Merritt Area/Pamlico Mines; “91” Zone; La Panta Mine; Pamlico East; Skarn Zone/McGill Canyon; and Pamlico South.
Newrange said gold mineralization in and around the Merritt Decline is being reinterpreted with the goal of further defining, and potentially enlarging, the zone of near surface high-grade gold, while the “91” Zone, which is 1,300 metres northeast of the Merritt Decline, represents a significant bulk tonnage gold target.
The company noted it is outlining a large-scale, multi-phase, polymetallic mineralizing system at Pamlico.
Newrange is focused on district-scale exploration for precious metals in favorable jurisdictions including Nevada and Ontario. The company’s Pamlico project in Nevada contains a large-scale multi-phase polymetallic mineralizing system with multiple gold and copper targets spread over more than 5,700 hectares.
In the prolific Red Lake District of northwestern Ontario, the past-producing high-grade Argosy Gold Mine is open to depth, while the adjacent North Birch project offers additional blue-sky potential. 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 the company's website at www.newrangegold.com.
Contact Sean at sean@proactiveinvestors.com