VANCOUVER, BRITISH COLUMBIA - TheNewswire - April 26, 2021 - (TSXV:NRG) (OTC:NRGOF) (Frankfurt:X6C) Newrange Gold Corp. ("Newrange" or the “Company") is pleased to announce the completion of an Induced Polarization (IP) survey on the Company’s North Birch Project in the Red Lake Mining Division of Ontario. Exploration at North Birch is modeled after the Musselwhite Mine in northwestern Ontario, owned and operated by Newmont-Goldcorp, where gold is hosted in a folded and sheared iron formation (IF). An airborne magnetic map illustrating this setting can be found here.
A total of 73.7 line kilometers of Gradient Array IP were completed, primarily over the eastern part of the project and covering seven kilometers of strike length along the main target horizon. The survey was successful in outlining a number of high priority targets for the upcoming summer drill program. High chargeability readings from the IP survey are interpreted to reflect sulphide replacement along the IF horizon (see map here). In IF Hosted Gold Deposits, gold mineralization is typically associated with sulphides. In the North Birch survey, not only do some of the chargeability anomalies follow the sheared limb of the IF, but the complexity of anomalies in the SE part of the property may reflect a mineralized fold nose.
“We are very pleased with the outcome of the IP survey as we have several well-defined anomalies that coincide with the target horizon along the limb of the sheared and folded iron formation,” stated Robert Archer, CEO of Newrange. “We intend to complete follow-up mapping and sampling in these areas to further assist in determining detailed drill hole locations.”
The Company is preparing to establish a camp in late May to be manned by a geological field crew for the summer. Mapping and sampling will be conducted across most of the 3,850 hectare property while diamond drilling is anticipated to commence in late June - early July and will consist of approximately 2,500 meters.
Newrange is focused on district-scale exploration for precious metals in favorable jurisdictions including Nevada, Ontario and Colorado. With locally high-grade, near surface oxide gold mineralization, the Company’s flagship Pamlico Project is poised to become a significant new Nevada discovery, while the North Birch Project offers additional blue-sky potential in the prolific Red Lake District. Focused on developing shareholder value through exploration and development of key projects, the Company is committed to building sustainable value for all stakeholders. Further information can be found on our website at www.newrangegold.com.
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 TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Newrange Gold Corp. Actual results may differ materially from those currently anticipated in such statements.
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