Newrange Gold's (TSX-V: NRG)
2017 exploration efforts will focus on the Company's high-grade Pamlico gold project in Nevada's Walker Lane with detailed target definition and reverse circulation (RC) drilling starting in May. The Company is also 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.
Crews have been on site in February and March 2017 to do detailed underground diamond saw cut channel sampling and mapping of the Merritt decline which crossed two zones bearing visible gold and an extensive pseudo stockwork of veining when a modern 600 foot rubber tired decline was excavated by the prior owner (2013) and which had not been sampled at that time. Sampling by Newrange has confirmed the high-grade nature of these two zones and also resulted in the discovery of additional high-grade gold zones and disseminated gold mineralization. Results are summarized in the news releases dated March 2, 2017 and April 11, 2017.
With the first phase of exploration focusing on the Merritt decline successfully completed, Newrange has moved ahead with a much broader second phase exploration program comprising a Phase I drilling program which started in the second week of May, 2017.
Results for the first 19 hole Phase I drilling program were announced in news releases dated June 19, 2017
and July 5, 2017
These results were highly successful, confirming the continuity of gold mineralization in the vicinity of the Merritt decline (see above) and historic high-grade drill intercepts in the Merritt Zone by prior operators. Work to date in the Merritt area indicate a mineralized zone approximately 100 to 130 meters wide that is presently open ended along strike. The best hole, P17-10, intersected 12.2 meters averaging 49.49 g/T Au from a depth of 25.9 meters. Many other high-grade gold intercepts (see) over significant widths were reported confirming the discovery potential at Pamlico.
Importantly, the knowledge gained focusing on the Merritt decline - Merritt Zone area will guide exploration for several similar target areas on the property including the Gold Box, Central and Sunset Mine zones.
The Company is aggressively pursuing exploration at Pamlico. A Phase II drilling program to follow up on some of the Phase I holes and to test new targets began in September 2017.
Other ongoing work includes:
- Surface and underground geological mapping and sampling. Surface trenching.
- Structural interpretation and 3D modeling from drilling data.
- Interpretation of results from property-wide geophysical surveys conducted in August - early September.
- Planning of Phase III drilling program.
- Selection of suitable composite sample for preliminary metallurgical study from drill holes.
- Assessing potential to initiate program of bulk sampling / test mining utilizing the existing decline and infrastructure.
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.