(TheNewswire)
VANCOUVER, BRITISHCOLUMBIA – TheNewswire - February 17, 2022 (TSXV:NRG ) US (OTC :NRGOF ) ( Frankfurt:X6C)– Newrange Gold Corp. (" Newrange " or the “ Company ") is pleased to announce that diamond drilling has commenced on its 100%owned North Birch Project in the Birch-Uchi greenstone belt northeastof Red Lake, Ontario. Approximately 2,000 metres are planned, withthe first five holes testing a three-kilometre strike length of themain target horizon, interpreted to be a sheared limb of a folded ironformation (see Figure1 ).
“We are excited to start the inaugural drill programon the main iron formation target at North Birch,” stated RobertArcher, Newrange’s President & CEO. “This target has neverbeen drill-tested but, with gold elsewhere on the property and at thenearby Argosy Gold Mine and Springpole Deposit, it checks all theboxes for a potential discovery.”
Figure 1: Airborne magnetic map of the North Birch Propertyhighlighting folded iron formation (in red/purple), gold showings andprimary target horizon for the 2022 drilling program
The 3,850-hectare North Birch Project encompasses afolded and sheared iron formation that is structurally similar toNewmont’s Musselwhite Mine, 185 kilometres to the northeast and thelargest of this class of deposits in Canada, with past production andreserves exceeding 7 million ounces (Ontario Geological Survey andNewmont Corporation). The Pickle Lake District, in the nextgreenstone belt to the east of Birch-Uchi, contains several depositshosting gold in iron formation and adjacent rocks and has collectivelyproduced 2.9 million ounces of gold since 1935 (MNDM archives).
Qualified Person
The technical content disclosed in this press releasewas reviewed and approved by DavidHladky , P.Geo., SeniorGeologist for Newrange and a Qualified Person asdefined under National Instrument 43-101.
Newrange is focused ondistrict-scale exploration for precious metals in favorablejurisdictions including Nevada and Ontario. The Company’s PamlicoProject in Nevada contains a large-scale multi-phase polymetallicmineralizing system with multiple gold and copper targets spread overmore than 5,700 hectares. In the prolific Red Lake District ofnorthwestern Ontario, the past-producing high-grade Argosy Gold Mineis open to depth, while the adjacent North Birch Project offersadditional blue-sky potential. Focused on developing shareholdervalue through exploration and development of key projects, the Companyis committed to building sustainable value for all stakeholders. Further information can be found on our website at www.newrangegold.com .
President & CEO
Forfurther information contact :
Email: info@newrangegold.com
Chief Financial Officerand Corporate Secretary
Email: dcross@crossdavis.com
Website: www.newrangegold.com
Neither the TSXVenture Exchange nor the Investment Industry Regulatory Organizationof Canada accepts responsibility for the adequacy or accuracy of thisrelease .
Some of the statements in this newsrelease contain forward-looking information that involves inherentrisk and uncertainty affecting the business of Newrange Gold Corp.Actual results may differ materially from those currently anticipated in suchstatements.
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