(TheNewswire)
VANCOUVER, BRITISH COLUMBIA – TheNewswire - March 9, 2022 (TSXV:NRG ) , (OTC :NRGOF ) , ( Frankfurt: X6C) – Newrange GoldCorp. (" Newrange " or the“ Company ") is pleased to announce that thefirst diamond drill hole on the Primary Target Horizon (“PTH”) atthe 100% owned North Birch Project has confirmed the presence of astrong deformation zone, well in excess of 100 metres wide, asoriginally interpreted from the geophysics (see Figure1 ). The sheared and folded basaltsand iron formation (“IF”) also display moderate to intensecarbonate alteration and local quartz veining. Pyrite and pyrrhotitemineralization occur as disseminations, stringers and, locally, as‘clots’ within quartz veins and veinlets.
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 first hole is encouraging as it is an importantstep in confirming our exploration model at North Birch,” statedRobert Archer, Newrange’s President & CEO. “The structuralenvironment as interpreted from airborne magnetics and LiDAR imageryis the basis for identifying the PTH. In this environment both theIF and the basalts can be mineralized and the presence of strongshearing and carbonate alteration with local quartz veining andsulphides are great indicators that we are on the righttrack.”
Hole NB22001 was designed to provide geologicalinformation in the vicinity of an interpreted fold structure. It wasdrilled first mainly for logistical reasons, being closest to camp anda water source, as the temperature had dropped to -40°C duringmobilization and setup. Holes NB22002 to 005 will continue to stepout to the north-west along the Primary Target Horizon and testcoincident chargeability and magnetic anomalies along athree-kilometre strike length.
The 3,850-hectare North Birch project is located in theBirch-Uchi greenstone belt northeast of Red Lake, Ontario, immediatelyadjacent to the past-producing Argosy Gold Mine (also owned byNewrange) and 12 kilometres from the Springpole Deposit beingdeveloped by First Mining Gold.
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 :
Sharon Fleming
Corporate Communications
Phone: 760-898-9129
Email: info@newrangegold.com
Dave Cross
Chief Financial Officer and Corporate Secretary
Phone: 604-669-0868
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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