(via TheNewswire)
“The
Geology
The Property is underlain by a folded sequence of interbedded mafic volcanics, greywacke, argillite, iron formation and intermediate tuffs (see maphere). 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 (see maphere). 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. A table of drilling highlights is found below.
There are no resources on the property and Newrange is considering all available information in a historic context.
History
According to records in the
The best ore mined on the Property is reported to have come from the ‘P’ vein during the later stages of mining. The ‘P’ vein lies in the footwall, and south, of the No. 1 vein and was found in and around a body of quartz feldspar porphyry which appears to have intruded the volcanic tuffs in this part of the mine. The No. 1 Vein is reported to have a length in excess of 1,500 feet (457 m) and had an ore shoot approximately 200 feet (61 m) long. This vein assayed 0.69 oz/t (23.7 g/t) Au over 3.3 feet (one metre) on the 900 foot (270 m) level, while the best ore mined came from the ‘P’ vein between the 600 and 800 foot (183 m and 244 m, respectively) levels. A 235 foot (72 m) section of the ‘P’ vein on the 700 foot (213 m) level assayed 2.21 oz/t (75.8 g/t) Au over 22 inches (56 cm). A Noranda Exploration compilation map indicates that below the lowest level mined, the ‘P’ vein returned gold values from diamond drill core of 0.14 oz/t (4.8 g/t) Au over 3.5 m, 0.43 oz/t (14.9 g/t) Au over 2.7 m and 0.34 oz/t (11.7 g/t) Au over 1.6 m. Cangold drilling in 2003 and 2004 below the old workings in this area intersected 10.46 g/t Au over 2.98 metres and 14.15 g/t over 1.65 metres indicating that the gold mineralization continues to depth. The deepest significant intersection known on the property lies at a vertical depth of only 400 metres.
After the mine closed, the Property lay dormant until 1974 when
Select Highlights from Cangold Drilling (2002-2004):
------------------------------------------------------- |Hole # |From |To |Interval|Weighted|Vein / Zone| | |(m) |(m) |(m) |Average | | | | | | |(g/t Au)| | |-----------------------------------------------------| |AM02-01 |284.59|287.00|2.41 |8.22 |# 8 Vein | |-----------------------------------------------------| |Including|286.45|287.00|0.55 |28.16 | | |-----------------------------------------------------| |AM02-02 |70.73 |71.48 |0.75 |9.11 |# 11 Vein | |-----------------------------------------------------| |AM02-07 |180.20|190.10|9.90 |2.42 |# 3 Vein | |-----------------------------------------------------| |Including|183.80|185.50|1.70 |14.67 | | |-----------------------------------------------------| |AM02-07 |337.00|340.45|3.45 |5.67 |#2 Vein | |-----------------------------------------------------| |Including|338.40|339.95|1.55 |11.75 | | |-----------------------------------------------------| |AM02-07 |355.10|357.40|2.30 |4.65 |New Zone | |-----------------------------------------------------| |Including|356.70|357.40|0.70 |14.39 | | |-----------------------------------------------------| |AM02-08 |56.30 |57.40 |1.10 |8.12 |#3 Vein | |-----------------------------------------------------| |AM03-01A |366.78|376.30|9.52 |3.56 |P Vein | |-----------------------------------------------------| |Including|368.30|371.28|2.98 |10.46 | | |-----------------------------------------------------| |AM03-02 |251.58|252.00|0.42 |8.03 |#1 Vein | |-----------------------------------------------------| |AM03-02 |353.70|354.34|0.64 |9.41 |P Vein | |-----------------------------------------------------| |AM03-03 |25.30 |27.93 |2.63 |10.95 |#11 Vein | |-----------------------------------------------------| |Including|26.75 |27.43 |0.68 |31.44 | | |-----------------------------------------------------| |AM03-03 |228.37|229.42|1.05 |4.64 |#8 Vein | |-----------------------------------------------------| |Including|228.37|228.88|0.51 |9.19 | | |-----------------------------------------------------| |AM03-04 |25.91 |28.14 |2.23 |5.40 |#11 Vein | |-----------------------------------------------------| |Including|26.42 |27.03 |0.61 |12.28 | | |-----------------------------------------------------| |AM03-05 |99.60 |101.00|1.40 |11.31 |Contact | | | | | | |Zone | |-----------------------------------------------------| |Including|99.60 |100.08|0.48 |32.44 | | |-----------------------------------------------------| |AM03-05 |171.28|171.62|0.34 |73.06 |P Vein | |-----------------------------------------------------| |AM04-01 |49.90 |50.20 |0.30 |52.70 |Cabin Zone | |-----------------------------------------------------| |AM04-01 |75.00 |76.30 |1.30 |9.15 |Cabin Zone | |-----------------------------------------------------| |AM04-08 |320.75|328.15|7.40 |3.59 |P Vein | |-----------------------------------------------------| |Including|320.75|322.40|1.65 |14.15 | | -------------------------------------------------------
Next steps
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
Qualified Person
The technical content disclosed in this press release was reviewed and approved by
About
Newrange is focused on district-scale exploration for precious metals in favorable jurisdictions including
Signed:“Robert Archer”
President & CEO, Director
For further information contact:
Sharon Fleming
Corporate Communications Chief Financial Officer and Corporate Secretary
Phone:760-898-9129 Phone: 604-669-0868
Email: info@newrangegold.com Email: dcross@crossdavis.com
Website:www.newrangegold.com
Neither the
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Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of
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