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Vancouver,
Drill holes P20-92 to 98, inclusive, targeted projections of gold-bearing structural zones situated stratigraphically below the most favorable rhyolite - latite tuff contact zones, in the lower reaches of
Drilling results indicate that a relatively flat-lying zone of gold mineralization exists near surface, as evidenced by intercepts in holes P20-93, 96 and 98, all of which correlate with previously drilled hole P20-65. While these intercepts average approximately 0.1 g/t Au, they are above 50 meters depth and require follow-up drilling. It is interpreted that this zone correlates with the gold mineralization in the underground workings and that holes P20-92, 94 and 95 may have drilled underneath this horizon. The zone appears to dip shallowly to the east and a series of vertical holes will be required to further test the continuity of the mineralization.
Highlights of Pamlico RCDrilling, Holes P20-92 to 110, inclusive:
-------------------------------------------------------------------------------------- |Hole |Area |From |To |Length|Au |Ag |Comments | | | |(m) |(m) |(m) |g/t |g/t | | |------------------------------------------------------------------------------------| |P20-93 |Gold |1.52 |6.10 |4.58 |0.097|4.67 |Correlates with hole P20-65| | |Box | | | | | | | | |Canyon | | | | | | | |------------------------------------------------------------------------------------| |P20-96 |Gold |32.01 |47.26 |15.25 |0.115|1.62 |Down-dip of P20-93? | | |Box | | | | | | | | |Canyon | | | | | | | |------------------------------------------------------------------------------------| |P20-98 |Gold |4.57 |10.67 |6.10 |0.092|5.40 |Correlates with P20-65&93 | | |Box | | | | | | | | |Canyon | | | | | | | |------------------------------------------------------------------------------------| |P20-99 |Merritt Zone |13.72 |19.82 |6.10 |0.833|3.58 |Lost @ 76 m caving | |------------------------------------------------------------------------------------| | | |36.59 |41.16 |4.57 |0.462|0.24 | | |------------------------------------------------------------------------------------| | | |65.55 |67.07 |1.52 |0.977|2.30 | | |------------------------------------------------------------------------------------| |P20-101 |Good Hope Mine|6.10 |16.77 |10.67 |0.274|0.32 |Rhyolite | |------------------------------------------------------------------------------------| | |and |22.87 |35.06 |12.19 |0.262|1.75 |Tuff | |------------------------------------------------------------------------------------| | |including |22.87 |27.44 |4.57 |0.614|0.87 | | |------------------------------------------------------------------------------------| |P20-103 |Good Hope Mine|9.15 |32.01 |22.86 |0.192|1.95 |Rhyolite above tuff | |------------------------------------------------------------------------------------| | |including |9.15 |13.72 |4.57 |0.587|3.33 | | |------------------------------------------------------------------------------------| |P20-104 |Good Hope Mine|0.00 |15.24 |15.24 |0.749|3.46 |Rhyolite | |------------------------------------------------------------------------------------| | |including |0.00 |3.05 |3.05 |3.145|9.20 |Vein quartz | |------------------------------------------------------------------------------------| |P20-105 |Good Hope Mine|10.67 |15.24 |4.57 |0.655|13.57|Vein quartz | |------------------------------------------------------------------------------------| |P20-106 |Good Hope Mine|9.15 |13.72 |4.57 |1.210|17.60|Vein quartz&Fe Oxides | |------------------------------------------------------------------------------------| |P20-106A|Good Hope Mine|57.93 |60.98 |3.05 |0.367|1.75 |Offset of 106, encountered | | | | | | | | |mine workings in target | | | | | | | | |zone | |------------------------------------------------------------------------------------| |P20-107 |Merritt Zone |12.20 |19.82 |7.62 |0.420|1.92 | | |------------------------------------------------------------------------------------| | | |47.26 |51.83 |4.57 |0.565|4.67 | | |------------------------------------------------------------------------------------| | | |57.93 |67.07 |9.15 |0.583|0.76 | | |------------------------------------------------------------------------------------| |P20-108 |Merritt Zone |1.52 |6.10 |4.57 |0.533|0.93 | | |------------------------------------------------------------------------------------| | | |38.11 |47.26 |9.15 |0.566|0.25 | | |------------------------------------------------------------------------------------| |P20-109 |Merritt Zone |44.21 |50.30 |6.10 |0.534|1.95 | | |------------------------------------------------------------------------------------| | | |118.90|121.95|3.05 |0.323|1.55 | | |------------------------------------------------------------------------------------| |P20-110 |Merritt Zone |16.77 |27.44 |10.67 |1.250|2.84 | | |------------------------------------------------------------------------------------| | |Including |19.82 |22.87 |3.05 |4.250|4.95 | | |------------------------------------------------------------------------------------| | |and |53.35 |74.7 |21.35 |0.742|3.69 | | --------------------------------------------------------------------------------------
Drilling in the
Holes P20-100 to 106, inclusive, and 106A tested gold mineralization in the area of the
Summary
These drill results, together with all of the Company’s previous drilling and underground sampling, continue to indicate that oxide gold mineralization at Pamlico occurs in a large, near surface, shallow-dipping to nearly flat, laterally extensive structural zone. This zone is focused near a major contact between latite tuffs and overlying rhyolite tuffs and flows, with mineralization locally extending upward into the rhyolite along structural zones. The Company postulates that mineralization may have migrated laterally throughout the more permeable portions of this shattered contact zone from the apparently sulfide-rich ‘Line 5’ chargeability anomaly identified in the Company’s 2020 Induced Polarization (IP) survey. Of note, drilled mineralization in the
Drilling has resumed following the holiday break and is following up on the interpreted intrusive-related gold mineralization intersected in hole P20-91 (see Newrange news release dated
Quality Assurance/Quality Control
Mr.
About Pamlico
Located 12 miles southeast of
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 is a precious metals exploration and development company focused on near to intermediate term production opportunities in favorable jurisdictions including
Signed:“Robert Archer”
CEO & Director
For further information contact:
Sharon Fleming Dave Cross
Corporate Communications Chief Financial Officer and Corporate Secretary
Phone:760-898-9129 Phone: 604-669-0868
Email: info@newrangegold.com Email: dcross@crossdavis.com
Website:www.newrangegold.com
Neither the
Forward-Looking Statement:
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of
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