VANCOUVER, Feb 17, 2022 -
Newrange Gold Corp. ("Newrange" or the "Company") (TSXV:NRG) US (OTC:NRGOF) (Frankfurt:X6C) is pleased to announce that diamond drilling has commenced on its 100% owned North Birch Project in the Birch-Uchi greenstone belt northeast of Red Lake, Ontario. Approximately 2,000 metres are planned, with the first five holes testing a three-kilometre strike length of the main target horizon, interpreted to be a sheared limb of a folded iron formation (see Figure 1).
"We are excited to start the inaugural drill program on the main iron formation target at North Birch," stated Robert Archer, Newrange's President & CEO. "This target has never been drill-tested but, with gold elsewhere on the property and at the nearby Argosy Gold Mine and Springpole Deposit, it checks all the boxes for a potential discovery."
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Figure 1: Airborne magnetic map of the North Birch Property highlighting folded iron formation (in red/purple), gold showings and primary target horizon for the 2022 drilling program
The 3,850-hectare North Birch Project encompasses a folded and sheared iron formation that is structurally similar to Newmont's Musselwhite Mine, 185 kilometres to the northeast and the largest of this class of deposits in Canada, with past production and reserves exceeding 7 million ounces (Ontario Geological Survey and Newmont Corporation). The Pickle Lake District, in the next greenstone belt to the east of Birch-Uchi, contains several deposits hosting gold in iron formation and adjacent rocks and has collectively produced 2.9 million ounces of gold since 1935 (MNDM archives).
Qualified Person
The technical content disclosed in this press release was reviewed and approved by David Hladky, P.Geo., Senior Geologist for Newrange and a Qualified Person as defined under National Instrument 43-101.
About Newrange Gold Corp.
Newrange is focused on district-scale exploration for precious metals in favorable jurisdictions including Nevada and Ontario. The Company's Pamlico Project in Nevada contains a large-scale multi-phase polymetallic mineralizing system with multiple gold and copper targets spread over more than 5,700 hectares. In the prolific Red Lake District of northwestern Ontario, the past-producing high-grade Argosy Gold Mine is open to depth, while the adjacent North Birch Project offers additional blue-sky potential. 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"
President & CEO
For further information contact:
Sharon Fleming, Corporate Communications
Email: info@newrangegold.com
Phone: 760-898-9129
Dave Cross, Chief Financial Officer and Corporate Secretary
Email: dcross@crossdavis.com
Phone: 604-669-0868
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.
Forward-Looking Statement: 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.
