Newrange Gold's (TSXV: NRG)
exploration work for 2018 will continue to focus on the Company's flagship high-grade Pamlico gold project located in Nevada's Walker Lane with more target definition and reverse circulation (RC) drilling. The goal is to define a multi-million ounce, near surface, oxide gold resource (this estimate is conceptual in nature at this stage). No work is planned for the Colombian projects for the time being.
A lot of highly successful work has been done since the project was acquired in late 2016:
- Extensive surface and underground mapping and sampling
- Property wide magnetic, radiometric and gravity geophysical surveys
- Phase I, II and III drilling programs (47 holes)
- Drilling of four deep holes to evaluate host rocks stratigraphy
- Structural interpretation and 3D modeling from drilling data
- Staking of new claims increasing property size 75% to 2,165 hectares
The Company's initial exploration efforts have been concentrated on the Merritt 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 further exploring the Merritt Area and other high priority targets on the property. This work has:
- Discovered multiple new, shallow, oxidized, high-grade and structurally controlled zones of mineralization
- Discovered large areas of stockwork/disseminated oxidized mineralization potentially amenable to bulk surface mining methods
- Defined a NW-SE trending mineralized corridor over a 500 meters strike length and 130 meters width that remain open along strike to the SE. This corridor is bordered by Pamlico Ridge on the south side.
- 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 at Pamlico
- Confirmed an extremely deep level of thorough oxidation extending at least 200 meters below the surface
As presently known, six (6) large, high potential exploration target 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.
Work planned for Q4/2018:
- Continue to generate drill targets from ongoing underground mapping and sampling of extensive historic mine workings (Merritt Area, Pamlico Ridge and Gold Box)
- Assess first results from ongoing metallurgical studies
- Begin Phase IV drilling program to test in and around the area of historic mining on Pamlico Ridge
- Plan programs for drilling of Gold Box and Pediment Area targets in 2019
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 NI 43-101 compliant resource estimate when the outlook for the gold price improves.