08:25:25 EDT Thu 22 Oct 2020
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Newrange Gold Corp
Symbol NRG
Shares Issued 121,299,643
Close 2020-10-13 C$ 0.16
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Newrange drills 9.15 m of 14.85 g/t Au at Pamlico

2020-10-13 12:34 ET - News Release

Mr. Robert Carrington reports


Newrange Gold Corp. has reported that hole P20-82 in the Merritt zone of the Pamlico project intersected near-surface oxide-gold mineralization averaging 14.85 grams gold per metric tonne and 3.57 grams silver per metric tonne over the 9.15-metre interval from 53.35 to 62.50 metres. This mineralized zone contained a high-grade core returning 34.11 g/t Au and 7.64 g/t Ag and lies within a larger 32.01-metre interval assaying 4.74 g/t Au and 2.25 g/t Ag from 44.21 to 76.22 metres.

Hole P20-82 also intersected a shallower zone of mineralization averaging 1.10 g/t Au and 3.67 g/t Ag over the 9.15-metre interval from 22.86 to 32.01 metres. A second hole, P20-83, expanded this oxide-gold mineralization to the southeast with an intercept from 4.57 to 10.67 metres averaging 0.484 g/t Au and 4.57 g/t Ag. Hole P20-82, in particular, expands the footprint of high-grade mineralization by filling in an important gap between adjacent holes P17-03, 18 and 32. The associated table summarizes these drill results.

These mineralized intercepts are thoroughly oxidized and focused in and near contact zones between the rhyolite and latite volcanic rocks that have been intensely sheared and brecciated due to the competency contrast of these two rock types.

The company is expanding the drill pattern in this and other areas of the property, including stepouts on hole P17-10, the highest-grade hole in the company's 2017 program that contained multiple high-grade intercepts, including 6.1 metres averaging 97.94 g/t Au as announced June 19, 2017. Road construction will commence shortly to drill-test the upper Good Hope mine at a similar rhyolite/latite contact zone where underground channel sampling has identified consistent high-grade results, including 40 metres averaging 13.89 g/t Au and 71.19 g/t Ag in the 5690-level of the mine, as announced May 14, 2020. The company is also conducting follow-up drilling of hole P20-65 that returned 4.6 metres of 0.535-gram gold-from-surface with additional highly anomalous gold mineralization at depth in Gold Box canyon as discussed in the company's press release of Sept. 20, 2020. Similar rhyolite/latite contact zones are exposed throughout the canyon and have been heavily prospected by artisanal miners in the past with production evident in three separate series of mine workings.

Quality assurance/quality control

Robert G. Carrington, PGeo, 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. All drilling was conducted by reverse-circulation methods using a five-inch diameter centre return bit. All drilling was supervised by professional geologists. Samples were collected on 1.5-metre (five foot) intervals. Drill cuttings were captured in a vacuum-augmented, closed-system cyclone, then riffle-split in a three-tiered Jones-type splitter. Samples were then securely stored and delivered to Paragon Geochemical Laboratories in Sparks, Nev., for sample preparation and analysis. Samples were dried then stage-crushed to 80 per cent passing 10 mesh. A 300-gram subsample was then split out and pulverized to 90 per cent passing 140 mesh from which one assay ton, approximately 30 gram samples were split for analysis by fire assay (FA) with an OES finish. Samples assaying in excess of five g/t Au were reassayed by fire assay with a gravimetric finish. Silver was determined by fire assay with an atomic absorption finish. In addition to the QA-QC conducted by the laboratory, the company inserts blanks, standards and certified reference material at a rate of not less than one in 20. Duplicate samples are collected for all drill samples and are submitted at a rate of one in 40.

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 a precious-metals exploration and development company focused on near-to-intermediate-term production opportunities in favourable jurisdictions including Nevada, Ontario and Colorado. 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.

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