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Pinnacle Silver & Gold Corp V.PINN

Alternate Symbol(s):  NRGOF

Pinnacle Silver & Gold Corp, formerly Newrange Gold Corp., is a Canada-based silver-gold exploration company. The Company is focused on two highly prospective gold projects in the Red Lake Mining Division of Northwestern Ontario. Its projects include the North Birch Gold Project and the Argosy Gold Mine Project. The 100% owned North Birch Gold Project comprises approximately 3,850 hectares and lies in the northwestern corner of the Birch-Uchi Greenstone Belt in the Red Lake Mining Division of northwestern Ontario, roughly 110 kilometers northeast of the town of Red Lake. The Argosy Gold Mine Project is situated in the northern part of the Birch-Uchi Greenstone Belt of the Superior Province of the Precambrian Shield. The Birch-Uchi Belt lies between the prolific Red Lake and Pickle Lake Greenstone Belts and has similar geology. Located 110 kilometers east-northeast of Red Lake, the property hosts the significant past-producing gold mine in the Birch-Uchi Belt.


TSXV:PINN - Post by User

Post by Bluetickon Jul 22, 2021 9:49am
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Post# 33587136

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Newrange Provides Update on Drill Programs

July 22, 2021

Newrange Provides Update on Drill Programs

 

VANCOUVER, BRITISH COLUMBIA, July 22, 2021 (TSXV: NRG, US: NRGOF, Frankfurt: X6C) – Newrange Gold Corp. (“Newrange” or the “Company”) provides the following update on the drill programs at its Pamlico Project in Nevada and the North Birch Project in the Red Lake District of northwestern Ontario

At Pamlico, diamond drilling has resumed after a short break for the US Independence Day holiday. The Company is drilling the first of several holes, MGC-01, on the Skarn Zone in the McGill Canyon Area.  This hole, located more than four kilometers southeast of the Company’s drillholes P21-115 and 122 through 125 as announced in releases dated July 6 and February 23, 2021, is in close proximity to a mineralized porphyry dike that assayed 2.994 grams gold per metric tonne (g/t Au), as announced June 14, 2021, and is testing a previously identified 200 ppb gold in soil anomaly over skarn altered limestone and calcareous shale that is coincident with favorable magnetic and IP geophysical anomalies.   

At the North Birch Project, the diamond drill program has been postponed due to the extreme wildfire activity in the Red Lake area.  On July 20, the Ministry of Natural Resources and Forestry (MNRF) issued an Emergency Area Order instructing all exploration activity in northwestern Ontario involving any kind of equipment to cease.  Not only is there an extreme risk of wildfire in the region but virtually all aircraft have been seconded by the firefighting effort such that any fly-in operation cannot be supported. 

“While we are disappointed that we have not been able to commence the North Birch drill program as planned, the safety of our field crew is our top priority and everyone is being evacuated,” stated Robert Archer, Newrange CEO.  “The lack of aircraft in the region has made it impossible to mobilize equipment into the project at this time but we intend to resume the program at the earliest opportunity.  At Pamlico, assays are still pending for the first four holes following up on the high-grade zone discovered by hole P21-115, while at the Skarn Zone, we are encouraged by the fact that the first hole ever drilled in this area is confirming the presence of strong alteration and porphyritic dikes in the limestones.”

.......Bluetick
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