(TheNewswire)
VANCOUVER, BRITISHCOLUMBIA – TheNewswire - January 11, 2022 (TSXV:NRG ) , (OTC: NRGOF ) , ( Frankfurt:X6C)– Newrange Gold Corp. (" Newrange " or the “ Company ") is pleased to announce that anew mapping and sampling program in the historic Central Mine area ofits Pamlico Project in Nevada has indicated widespread goldmineralization with values up to 47.34 g/t . Inkeeping with the Company’s renewed focus on the larger scalegeological setting, and as there is little historical information fromthe mine itself, a preliminary program of mapping mineralizedstructures and sampling dump material from the numerous adits wasundertaken to determine what had been mined in the past.
Gold mineralization seems to have been confined to avolcano-sedimentary (“VS”) unit on the west side of a limestoneridge. A total of 67 grab samples were taken of quartz brecciamaterial (most with iron oxides) in the old mine dumps extending overan area of approximately 700 metres north-south by up to 350 metreseast-west. Of these samples, 55 (78%) returned gold values greaterthan 0.1 g/t, 29 samples (43%) were greater than 1.0 g/t and 13 (19%)assayed more than 5.0 g/t Au. The average grade of all 67 sampleswas 4.33 g/t gold.
Significantly, other metals are also highly anomalouswithin this zone. Assay ranges and averagesare as follows:
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Gold : 0.005 to 47.34 g/t ; Ave. 4.33 g/t
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Silver : 0.2 to 175 g/t ; Ave. 18.2 g/t
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Copper : 5 to 34300 ppm (3.43%) ; Ave. 1420 ppm
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Lead : 6 to 38900 ppm (3.89%) ; Ave. 4386ppm
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Zinc : 2 to 7900 ppm (0.79%) ; Ave. 1810 ppm
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Manganese : 44 to 49000 ppm (4.9%) ; Ave. 8908ppm
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Arsenic : 6 to 14800 ppm (1.48%) ; Ave. 717ppm
“These results are very encouraging in that they giveus a better understanding of the style of mineralization in theCentral Mine area,” stated Robert Archer, Newrange President &CEO. “As the area had not been previously mapped in detail, thenew information will be important for our follow up drilling. The‘91’ Zone discovered by Newrange in late 2020 lies just on theeastern edge of here at a vertical depth of approximately 100 metres. Although we do not have any reliable production figures from themine, the lateral extent and tenor of the polymetallic mineralizationin the old dumps coupled with that in the ‘91’ Zone suggests thata significant mineralizing system is present here.
Furthermore, the Chargeability anomaly named the‘Line 5’ anomaly lies just to the east, under the limestone ridge. It is still considered likely that this anomaly reflects sulphidemineralization within the VS unit below the limestone.”
The gold-bearing mineralized structures at the CentralMine are sub-parallel with a general north-south strike and dipbetween 15 and 85 degrees to the east and are offset by east-westfaults. The structures contain quartz veins (including bandedquartz), silicified vein and fault breccia, and variable amounts ofiron-oxides. Veins are between 4 centimetres and 2 metres wide. Limonite, pseudomorphs of pyrite by goethite and boxwork texturesall indicate that sulphides were present in the quartz veins prior tooxidation. Copper minerals were noted locally.
In addition, recently recognized skarn alteration andextensive silicification exists in the limestones to the immediatesouthwest of the Central Mine area, which fits with the workinghypothesis that mineralization on the Pamlico Project is related to alarge intrusive system.
Quality Assurance/Quality Control
All rock samples were securely stored followingcollection and delivered to Paragon Geochemical Laboratories inSparks, Nevada for preparation and analysis. Samples are dried thenstage crushed to 70% passing 10 mesh. A 250-gram sub-sample is thensplit out and pulverized to 85% passing 200 mesh from which 1 AssayTon (approximately 30-gram) samples are split for analysis by fireassay (FA) with an Aqua Regia (AQR) digest and OES finish. Samplesassaying in excess of 5 g/t Au are re-assayed by FA with agravimetric finish. Silver was determined by FA with an atomicabsorption finish. Samples submitted for multi-element geochemistrywere subjected to AQR digestion and ICP-OES. In addition to theQA/QC conducted by the laboratory, the Company inserts blanks,duplicates, standards, and certified reference material (CRM) at arate of not less than 1 in 20.
Qualified Person
Mr. Robert A. Archer, P. Geo, a Qualified Person asdefined by National Instrument 43-101, and the President and CEO ofthe Company, has reviewed, verified and approved for disclosure thetechnical information contained in this news release.
About Newrange Gold Corp.
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 Dave Cross
Corporate Communications Chief Financial Officer and CorporateSecretary
Phone: 760-898-9129 Phone: 604-669-0868
Email: info@newrangegold.com 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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