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Newrange Gold Corp
Symbol NRG
Shares Issued 91,024,487
Close 2019-05-14 C$ 0.14
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Newrange samples 40 m of 13.89 g/t Au at Good Hope

2019-05-14 11:49 ET - News Release

Mr. Robert Archer reports


Newrange Gold Corp.'s continuing underground mapping and sampling at the Pamlico project has identified the source of high-grade gold and silver in the historic Good Hope mine. Underground channel sampling of the exposed part of the mineralized zone yielded a weighted average of 13.89 grams gold per metric tonne (g/t) and 71.19 g/t silver over 40 metres in the 5690 level of the mine. Including the adjacent footwall and hanging wall samples, which are also mineralized, the same 40 metres averaged 4.96 g/t gold and 42.24 g/t silver and the zone is open along strike and downdip. One of several historic past-producing mines that are part of the company's Pamlico gold project in Nevada, the Good Hope mine, lies approximately 850 metres southeast of the Merritt decline along the general trend of Pamlico Ridge.

The Good Hope mineralization, like that found in the Pamlico mine and the Merritt area, is intensely oxidized. The silver to gold ratio of 7.9 to one is, however, much higher in the Good Hope samples than in the Pamlico mine and the Merritt area, where it averages roughly one to 10. The 5690 level silver to gold ratio is more typical of gold deposits throughout the Basin and Range province and indicates a potentially important zonation within this extensive mineralizing system, which could provide very important vectoring information for future exploration.

"The rediscovery of the Good Hope Mine mineralization is a very significant development for the Pamlico project," stated Robert Archer, chief executive officer. "With approximately 8,000 metres of underground workings and 300 mine entrances within an area of about 1,500 by 1,000 metres and no maps or production data to rely upon, the ability to make this kind of discovery almost a kilometre away from our highly successful exploration in the Merritt area underscores the tremendous potential of the project. Having access to these extensive workings provides a unique opportunity in that the channel samples provide data that is of a higher quality than that obtained by drilling, at a fraction of the cost. Importantly, the presence of higher silver values in the Good Hope mine is a significant feature that will help gain a better understanding of the mineralizing system."

Twenty-seven detailed channel and panel samples were taken from the 5690 level of the Good Hope mine and range in grade from 0.05 g/t to 41.20 g/t gold and six g/t to 244.67 g/t silver. The sampling tested an undulatory, anastomosing set of highly mineralized structures that are a subset of a much larger, similar structural package that strikes dominantly east-west with shallow to moderate dips to the south. Reconnaissance of other underground workings on this set of structures indicates that the true thickness of this package may be greater than 50 metres, with individual structures up to 10 metres in thickness. Newrange's work to date has also traced similar mineralized structural zones with nearly identical attitudes in artisanal mine workings extending easterly from the Good Hope mine for at least 1.7 metres across the Pamlico property.

Geological setting

The Good Hope mine, located 850 metres southeast of the Merritt decline, is developed on a series of roughly east-west-trending structures that intersect the northwest-trending Pamlico Ridge trend. Structural elements of both systems are present in the Good Hope mine, as are a series of nearly north-south-striking structures that show visual evidence of strong mineralization. Gold-silver mineralization in the Good Hope mine is hosted in the same lithic tuff unit known to host the gold mineralization in the Merritt area and the Pamlico mine and is overlain by the same rhyolite flows and tuffs. The east-west structures are part of Newrange's east-west target zone and are an important feature related to the regional east-west-striking Pancake Range lineament that intersects the Walker Lane and the related Pamlico Ridge trend on the property. Intersections, especially those of large, deep-seated structural lineaments like the Walker Lane and Pancake Range lineaments, are widely known to form highly favourable geological environments that promote circulation of deep metal-rich fluids and are critical in the formation of large deposits and mining districts. Other districts and deposits found along the intersection of the Walker Lane and the Pancake Range lineaments include Round Mountain, Santa Fe, Aurora and Borealis in Nevada, and the Bodie district in California. Elsewhere within the Walker Lane, the famed Comstock Lode, with past production of more than 8.3 million ounces of gold and 192 million ounces of silver occurs at the intersection of the Walker Lane and the northeast-trending Humboldt structural lineament, a major, broad, northeast-trending structural zone.

Quality assurance/quality control and methodology

Samples for assay were securely delivered to American Assay in Sparks, Nev., for sample preparation and analysis. Samples were dried, then stage crushed to 80 per cent passing 10 mesh. A 1,000-gram sub-sample was then split out and pulverized to 140 mesh from which 50-gram samples were split for analysis by fire assay with atomic absorption finish. All samples assaying more than 10 g/t Au are checked and reassayed using fire assay (FA) with a gravimetric finish. In addition to the QA/QC conducted by the laboratory, the company inserts blanks, standards and certified reference material (CRM) at a rate of one in 20.

Robert G. Carrington, professional geoscientist, a qualified person as defined by National Instrument 43-101, the president and chairman of the company, has reviewed, verified and approved for disclosure the technical information contained in this news release.

About Pamlico

Located 12 miles southeast of Hawthorne, Nev., along U.S. Highway 95, the project enjoys excellent access and infrastructure, a mild year-round operating climate, and strong political support from Mineral county, one of the most pro-mining counties in the pro-mining state of Nevada. The Pamlico project covers the historic Pamlico group of mines, as well as the nearby Good Hope, Gold Bar and Sunset mines.

Discovered in 1884, the district rapidly gained a reputation as being one of Nevada's highest-grade districts. Held by private interests for most of its history, the property remains underexplored in terms of modern exploration.

About Newrange Gold Corp.

Newrange is an aggressive exploration and development company focused on near-to-intermediate term production opportunities in favourable jurisdictions, including Nevada, Colorado and Colombia. With numerous drill intercepts of near-surface oxide gold mineralization to 340 grams gold per metric tonne, the company's flagship Pamlico project is poised to become a significant new Nevada discovery. Focused on developing shareholder value through exploration and development of key projects, the company is committed to building sustainable value for all stakeholders.

We seek Safe Harbor.

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