Newrange Gold Corp. provided additional information on its wholly owned Argosy Gold Mine in the Red Lake Mining Division of northwestern Ontario. As announced on November 1, the Company has acquired a 100% interest in the mine property from Great Panther Mining Limited through the acquisition of its subsidiary, Cangold Limited. The Argosy Gold Mine is the most significant past-producing gold mine in the Birch-Uchi Greenstone Belt, having produced 101,875 ounces of gold and 9,788 ounces of silver at a gold grade of 0.37 ounces per ton (oz/t) (12.7 grams per tonne (g/t)) (Ontario Ministry of Northern Development and Mines archives). It closed in 1952 due to high operating costs and a $35/oz gold price. Production came from only four veins, although more than 12 are now known, and only to a maximum depth of 900 feet (270 metres). The property consists of 43 patented claims and 17 Mining Licenses of Occupation comprising 604 hectares. The Property is underlain by a folded sequence of interbedded mafic volcanics, greywacke, argillite, iron formation and intermediate tuffs. A small body of quartz feldspar porphyry occurs near the margin of the tuffs and may be an intrusive version of the same volcanic event. Younger intrusions of diorite and granite dykes were apparently encountered in underground workings. Gold mineralization occurs in a series of north-northeast trending smoky blue-grey quartz veins with coarse arsenopyrite and free gold that dip 30 to 80 west. Individual veins are typically narrow (centimetres or tens of centimetres) in width but occur in a 'sheeted' fashion such that potentially economic grades can be achieved over widths in excess of a metre. Visible gold is common and there is a strong nugget effect such that grades in drill holes can be quite variable. Cangold found that the use of screen metallics assaying to address this significantly improved the grades of core samples. There are no resources on the property and Newrange is considering all available information in a historic context. Newrange geologists are compiling all available historic data and a 3D model is being constructed using LeapFrog software in order to gain a better understanding of the vein system. Once the modelling is complete, detailed planning for a winter drill program will be carried out. At present, it is anticipated that drilling will follow the North Birch drill program and commence on the Argosy Project in late February. Initial targeting is likely to be on the depth extension of the #1 and 'P' veins at the Number 1 Mine although other targets may also be tested.