Newrange Gold Corp. (TSX-V:NRG, OTCQB:NRGOF) announced that the first diamond drill hole on the Primary Target Horizon (PTH) at its 100%-owned North Birch project in the Birch-Uchi greenstone belt northeast of Red Lake, Ontario has confirmed the presence of a strong deformation zone, well over 100 metres (m) wide, as originally interpreted from the geophysics.
The explorer revealed that the sheared and folded basalts and iron formation (IF) also display moderate to intense carbonate alteration and local quartz veining. Pyrite and pyrrhotite mineralization occur as disseminations, stringers and, locally, as 'clots' within quartz veins and veinlets, it added.
"The first hole is encouraging as it is an important step in confirming our exploration model at North Birch," the company’s president and CEO Robert Archer said in a statement. "The structural environment as interpreted from airborne magnetics and LiDAR imagery is the basis for identifying the PTH.”
READ: Newrange Gold kicks off drilling at its North Birch project near Red Lake, Ontario
Newrange said hole NB22001 was designed to provide geological information in the vicinity of an interpreted fold structure. It was drilled first mainly for logistical reasons, being closest to camp and a water source, as the temperature had dropped to -40 degrees Celsius during mobilization and setup, it added
The company said holes NB22002 to 005 will continue to step out to the north-west along the Primary Target Horizon and test coincident chargeability and magnetic anomalies along a three-kilometre strike length.
“In this environment both the IF and the basalts can be mineralized and the presence of strong shearing and carbonate alteration with local quartz veining and sulphides are great indicators that we are on the right track,” Archer concluded.
Newrange Gold 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 the author at stephen.gunnion@proactiveinvestors.com