Newrange Gold Corp. (NRG:TSX.V; NRGOF:OTC) announced in a news release that through drilling, it discovered oxide gold mineralization 85 meters (85m) east of the Merritt zone at its Pamlico project in Nevada.
"It is not yet clear if this new zone is continuous with the Merritt zone, which was previously thought to have been cut off to the east in the direction of hole P20-115," the release noted.
The company is planning follow-up drilling to determine the zone's dimensions.
Newrange Gold highlighted that reverse circulation drilling intersected several high-grade structures in P20-115, which returned up to 22.35 grams per ton gold (22.35 g/t Au) over 1.5m. Lower grade halos, like those seen in Merritt, surrounded these structures.
In general, mineralization began at 15.2 meters downhole, where intercepts included 13.7m of 4.38 g/t Au, including 4.5m of 12.47 g/t Au from 16.77–21.34m downhole.
Other result highlights included 7.62m of 5.52 g/t Au from 92.99–100.61m, including 22.35 g/t Au from 94.51–96.04m, and 1.5m of 13.01 g/t Au from 123.48–125m. "The rocks between these zones are variably mineralized such that the entire 123.5 meter interval averages 1.13 g/t Au," the company noted.
The company noted that all mineralization is contained within 117 meters of surface in this new zone, and it remains open to the north and east and to depth.
"The discovery of more high-grade gold mineralization close to the Merritt Zone is an exciting development and appears to validate our hypothesis that multiple high-grade zones surrounded by halos of lower grade exist over a much broader area," CEO Robert Archer said in the release. "While historic mining may have removed some gold from the hills, we are confident that other buried zones remain to be found. Our new, intrusive-related exploration model is being validated by drill-testing of Induced Polarization (IP) targets and the extension of the geophysical survey to cover the entire property is indicating that the entire system may be several kilometers in size."
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