Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

News Update

TICKERS: NRG; NRGOF

Canadian Explorer Options Gold Property in Red Lake District
News Update

Share on Stocktwits

Source:

For full ownership, the earn-in period is two years.

Newrange Gold Corp. (NRG:TSX.V; NRGOF:OTC) announced in a news release it entered an agreement to earn in 100% of AurCrest Gold's Western Fold property in Ontario's Red Lake District.

"We see the Western Fold property option as a low cost and potentially high reward opportunity for the company while we continue to advance our flagship Pamlico project," Newrange CEO Robert Archer said in the release.

For Western Fold, Newrange will pay a total of $200,000 and issue 1 million common shares, both in tranches, over a two-year period. AurCrest will retain a 2% net smelter return royalty, but Newrange may purchase half of it for $1 million.

The Western Fold prospect, 12 kilometers northwest of the Springpole gold deposit, is considered to be highly prospective for gold mineralization, but it has not been explored through drilling. The property features a magnetic signature indicative of a "strongly folded iron formation" similar to that hosting the Musselwhite gold nine in Northwestern Ontario, the release noted.

[NLINSERT]

Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Newrange Gold Corp. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this interview, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Newrange Gold Corp., a company mentioned in this article.





Want to read more about Gold investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe