Newrange Gold Corp. (TSX-V:NRG, OTCQB:NRGOF) announced that a new mapping and sampling program in the historic Central Mine area of the company’s Pamlico project in Nevada has indicated widespread gold mineralization with values up to 47.3 grams per tonne (g/t) gold.
The company said in keeping with its renewed focus on the larger scale geological setting, a preliminary program of mapping mineralized structures and sampling dump material from the numerous adits was undertaken to determine what had been mined in the past.
“These results are very encouraging in that they give us a better understanding of the style of mineralization in the Central Mine area,” Newrange Gold CEO Robert Archer said in a statement.
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“As the area had not been previously mapped in detail, the new information will be important for our follow up drilling,” Archer added.
Newrange noted that 67 grab samples were taken in the old mine dumps extending over an area of about 700 metres (m) north-south by up to 350m east-west, with an average grade of 4.3 g/t gold.
It added that gold mineralization seems to have been confined to a volcano-sedimentary (VS) unit on the west side of a limestone ridge.
As well, the company said recently-recognized skarn alteration and extensive silicification exists in the limestones to the immediate southwest of the Central Mine area, which fits with the working hypothesis that mineralization on the Pamlico project is related to a large intrusive system.
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.
Contact Sean at sean@proactiveinvestors.com