RE:RE:RE:NRG NEWRANGE GOLD SAMPLES MORE HIGH GRADE GOLD$$$$$$It was a good release Mac and it follows in a long line of very positive releases over the course of this year. First of all we had the metallurgical report of recoveries in excess of 97%. Now we know Nevada gold mines usually have excellent metallurgy but these are exceptional figures definitely in the top 20%. Then we had the news that the low grade material could be increased in grade over 600% by simply using a gravity circuit to eliminate the larger material. 87% of the larger material is eliminated and the remaing 13% which falls through the gravity circuit has an increase in grade of 600% with no need for a crusher. Huge news for a property the size of Pamlico with a mineralized gold zone of 1.5km by 1km and growing all the time. Also we know this zone is oxidized to over 300 mts in depth so this is going to be an extremely cheap mine to run even by Nevada standards.
OK all of the above is crucial to Pamlico becoming an extremely profitable mine but this current fickle market only seems to care about one thing and that is high grade. Now we have a very nice high grade zone at Good Hope 80 mts long and 60 mts deep with an average width of almost half a metre with an average grade of 12.9g/t. This is a beautiful situation ready and waiting for the drill program starting early next year. The beauty of the grade is that the almost exact same head grade was encountered in both adits which are 60 mts vertically one below the other and the 80 mts of length corresponded very nicely. This is a beautiful target area for drilling and should be the first priority.
More good news this year is that Columbian assets are being sold to finance the extremely successful chip sampling. This sampling can be used as part of a resource estimate so it is turning into a perfect double whammy of exploring for grade whilst also being eligable for an eventual resource estimate.
Upcoming catalysts for some excitement are the IP survey which should start shortly and who knows what that could turn up. A mineralized area of 1.5 by 1km of gold didn't just appear out of nowhere. There is a source for all this gold at depth and it will turn up on the survey. Also another even more important catalyst is it looks as if the correction in gold since September is ending and gold is forming a nice bowl formation which will lead to a move towards £1700 sometime early in 2020. It is only when gold gets into this price range that we will see a flood of money into the best junior mining situations and in my view there is none as exciting or under valued as Pamlico. If all of these catalysts come together early next year and we execute a good drill program NRG shares will be trading at many multiples of their current price.
https://kingworldnews.com/gold-may-be-ending-correction-and-turning-bullish/