Newrange Gold's (TSXV: NRG)
exploration work in 2018 will continue to focus on the Company's flagship high-grade Pamlico gold project in Nevada's Walker Lane with more target definition and reverse circulation (RC) drilling starting in February. The Company is also still reviewing various options with respect to its Colombian assets; the high-grade gold-copper-silver-zinc El Dovio project and the large gold-copper porphyry Yarumalito project.
: A lot of highly rewarding work has been done during the multifaceted, 2017 exploration campaign:
- Extensive surface mapping and sampling
- Property wide magnetic, radiometric and gravity geophysical surveys (see news release & maps)
- Phase I and Phase II drilling programs (40 holes) (see news releases, assay tables and maps)
- Drilling of two deep holes to evaluate host rocks stratigraphy (see news release & map)
- Structural interpretation and 3D modeling from drilling data.
- Staking of new claims increasing property size 75% to 2,165 hectares (see news release)
The Company's initial exploration efforts have been concentrated on the Merritt target area, which represents less than 1% of the size of the property. This work, designed to develop a high confidence, strong predictive model of the complex geology and very high-grade mineralization at Pamlico has been exceptionally successful and will be an invaluable guide in exploring for other high priority targets on the property. This work has:
2018 Exploration and Drilling Program
- Identified multiple new, shallow, high-grade, structurally controlled zones of mineralization.
- Identified large areas of stockwork / disseminated mineralization potentially amenable to bulk surface mining methods.
- Defined an exceptionally favorable volcanic host rock unit, which is the preferred host for the majority of all historic production and virtually all newly discovered mineralization at Pamlico.
- Identified additional similar highly favorable volcanic units at depth, materially increasing the size potential of Pamlico.
- Defined an extremely deep level of thorough oxidation extending 200 meters below the surface.
As presently known, six (6) large, high potential exploration areas exist at Pamlico and include: the E-W, Gold Box, "B", East Zone North and East Zone South in addition to the 2.7 kilometer long Pamlico Ridge. In total, these areas have a combined strike length of more than 14.2 kilometers.
With the Phase III drilling program starting in February 2018
, Newrange will:
- Focus on establishing a multi-million ounce near-surface oxide gold resource within the larger Pamlico exploration area (this figure is conceptual in nature).
- Expand drilling into the East Zone North area to explore sediment hosted mineralization.
- Conduct step-out drilling along trend in the Merritt Area.
- Initiate drilling in the 1300 by 700 meter, Pediment Zone north of the Merritt decline to explore for extensions of the Merritt zone high-grade mineralization.
- Initiate drilling in the Pamlico Ridge Trend including the intersecting E-W Zone.
- Metallurgical sampling and test work to assess preferred metallurgical recovery methods.
- Continue to expand its surface and underground mapping and sampling programs, expand geochemical surveys in areas identified as prospective for mineralization in the Company's ongoing geological mapping program for future drill targeting.
Management expects a steady flow of news as exploration progresses on this unique and exciting gold project with multi-million ounce discovery potential.
The next step at El Dovio would be to define a diamond drilling program to better explore projections of high-grade mineralization in the Sabana Blanca zone (see prior results: July 15, 2013 News Release
and August 20, 2013 News Release
In the Brazo 1 zone, scout drilling in 2014 intersected extensive zones of exhalative style bedded sulfide mineralization in an area of very sparse outcrop. MMI geochemistry indicates multiple, large open-ended gold and copper anomalies. The Company believes this should be followed up by simultaneously expanding existing MMI geochemical coverage and detailed geological mapping to define drill targets in this area of the property.
At Yarumalito where the Company has completed more than 18,000 meters of diamond drilling (see prior results: July 12, 2010 News Release
and October 13, 2010 News Release
) and extensive favorable metallurgical work on the large Escuela gold porphyry, the Company plans to assess the viability of completing a 43-101 compliant resource estimate based upon the improved outlook for gold prices.