Newrange Gold Drills Near Surface, High-Grade Gold, At The Pamlico Gold Project

 

VANCOUVER, BC - Newrange Gold Corp. reported the Phase I drilling continued to intersect multiple zones of high-grade, oxide gold mineralization, including 244.3 grams gold per metric tonne (g/T Au) over 0.8 meter, within 4.6 meters averaging 43.8 g/T Au, at its Pamlico gold project in Nevada. Importantly, this shallow intercept is within 13 meters of the surface.

These results are part of a fully funded program of Reverse Circulation (RC) and core drilling, trenching, mapping, geochemical sampling, geophysical surveys, and metallurgical work that will extend throughout 2017. These latest drill results continue to define and expand the presence of high-grade gold mineralization in the vicinity of the Merritt Zone and Merritt Decline (see prior news releases on previous underground channel sampling and drill results by Newrange). Notably, this drilling intersected high-grade, oxide mineralization above the Merritt Zone, expanding the zone's shallow potential. This potential was previously overlooked because historic drilling was not assayed from the surface to a depth of 55 meters. Hole P17-17 intersected 0.8 meter assaying 244.3 g/T Au from 10.6 to 11.4 meters. This is the Company's second highest grade drill intercept to date, and is included within a broader interval of 4.6 meters averaging 43.8 g/T Au from 8.4 to 13.0 meters. Hole 17 also intersected a second high-grade zone assaying 35.4 g/T Au over 0.8 meter from 22.8 to 23.6 meters. Hole P17-12 intersected 4.6 meters averaging 14.5 g/T Au, within a broader interval of 13.7 meters averaging 6.0 g/T Au. This intercept is at an approximate vertical depth of 40 meters from the surface (58 meters down-hole), and extends the known limits of high-grade gold mineralization more than 35 meters to the west of previous drilling. Hole P17-18 intersected 2.3 meters averaging 58.5 g/T Au from 56.4 to 58.7 meters, within 9.9 meters averaging 15.27 g/T Au from 54.1 to 64 meters. Holes P17-13, 14 and 15 all contain significant intercepts of disseminated, lower grade mineralization, confirming and expanding the extent of "halo" gold mineralization more than 30 meters south of the decline.

All results reported are length-weighted averages with no grade capping applied. Drill intercepts are for the actual drilled intercept length and may not represent true widths. Insufficient data currently exists to estimate true width. For brevity, all values in the text of this release are rounded to one significant decimal, while the table above reports all values to 2 significant decimal places.

The Company is currently in the process of completing detailed down hole surveys and structural analyses of its drill holes utilizing the OBI Down Hole Televiewer. This state of the art, high resolution, down hole imagery provides detailed, oriented structural data from RC holes that is equal to or better than that from oriented core. This additional data will improve the interpretation of the structurally controlled gold mineralization at Pamlico and will help to better define the geological model resulting from the Company's drilling to date which will be published as modeling allows.