Great NRG Article ....I put this post on the ceo.ca board, and thought I would put it here as well, for anyone who has not seen/read the article....
---------------------------------------------------
I think I am more excited about these drills, and the future of this deposit / company than I was on WM at .15. So many zones, so much shallow high grade, so easy to mine, even easier (and cheaper) to heap leach, and yea, gold being 450.00 higher than when they drilled 2107 and hit .75 cents....good gravy!! Absolutely STOKED!
I read a great article this morning (from Jan 24 of this year) by @MikeyMike426, and he talks about the very real likelihood that Newrange sits on a "Caldera" or a collapsed volcano, and when you see the satellite picture, I have ZERO doubt this is in fact the case.
He states that: "calderas were formed throughout many parts of Nevada. Calderas form on micro plates where the earth’s crust becomes very thin as a result of The Oceanic Crust (subduction plate) moving under the Continental Crust. This creates a convection current which produces an anomaly called a mantle wedge. This in turn brings super heated magma much closer to the surface where it reacts with ground water to lower the melting point of the overlying rock layer. It’s the volcanic equivalent to the perfect storm which creates conditions for massive volcanic eruptions. After the eruption the magma chamber often collapses on itself, creating the caldera. These events were very common to the east of and parallel to the San Andreas Fault millions of years ago."
As an example, Round mountain, a little to the East of Newrange, owned by $K Kinross has 20 Million ozs of gold, and is located on the edge of one of these Calderas. - "The Round Mountain deposit is a very large, epithermal, volcanic-hosted hot springs type of precious metal deposit along the margin of a buried volcanic caldera."
He states: "There is a potential theory, that the Pamlico Ridge is sitting on the edge of a once active caldera or at the very least a highly active epithermal system formed by magma reservoirs which were once part of the Western Nevada Caldera Complex. After reviewing the local mining operations, being on site and reviewing geological and topographical maps of the area we are inclined to believe that there may be more to this theory." and when you look at the picture included, for me, it is a no brainer that this is in fact the case.
He further states: "Notice how this mountain complex stands out, especially when
compared to Round Mountain, which seems to
lack any sort of noticeable geological features from satellite imagery. Pamlico
Ridge and Round Mountain are both on the Pancake Range lineament and there is the potential that
the magma reservoir that fuelled the Round Mountain deposit also played a part
in the formation of the Pamlico Ridge deposit. "
When you look at the two pictures at the bottom of the article, it is pretty clear.... Anyway, I just wanted to point that out for anyone who has not seen or read the article. and thank @MikeyMike426 for the great information (and apologize for plagiarizing a lot of it :) )
https://insidexploration.com/pamlico-ridge-the-geological-forces-driving-nevadas-mining-industry/ --- also some previous drills from the area....
https://www.newrangegold.com/projects/pamlico-gold-project/exploration-results/rc-drilling-2017/ https://www.newrangegold.com/projects/pamlico-gold-project/exploration-results/rc-drilling-2018/