Newrange Gold Corp. (NRG:TSX.V; NRGOF:OTC) announced in a news release that the now completed induced polarization and resistivity (IP) survey at its Pamlico project in western Nevada detected "several strong and well-defined anomalies."
"The preliminary results of the IP survey are extremely encouraging as they are interpreted to indicate the presence of sulphides at depth," CEO Robert Archer said in the release.
Having been expanded part way through the process, the IP survey ultimately covered six targets: Pamlico Ridge, Pediment, Gold Box, Skarn and the historical Central and Sunset mine zones. It consisted of 14.8 line kilometers in nine test lines whose length ranged from 1,200–2,200 meters, for total coverage of 10-plus square kilometers.
"The final interpretation will assist in the overall understanding of the geological setting on the project and provide targets for the upcoming drill program," Archer said. "In addition, underground surveying and mapping is now complete and underground sampling is proceeding at the historic Gold Bar Mine with numerous assays pending. The scanning and surveying have moved to the upper levels of the Pamlico Mine to better define the extent of historic development in that area. With our recent financing, the monetization of our Colombian assets and the potential exercise of warrants, Newrange should be well funded for exploration throughout 2020."
In other news, "to help preserve recently completed funding for operations and exploration," Newrange paid its $68,534.58 debt to Carrington Consulting, a company controlled by Newrange President and Chairman Robert Carrington, in the form of 685,346 Newrange shares.
Read what other experts are saying about:
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. 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.
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 article, 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.