Movers and SHAKERS
Newrange Gold (NRGOF)(NRG:CA)
Recent Drilling Reveals a New Gold Zone at Pamlico
As of April 24, 2020, Noble Capital Markets research on Newrange Gold is published under ticker symbols (NRGOF and NRG:CA). The price target is in USD and based on ticker symbol NRGOF. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. Newrange Gold Corp is an exploration stage company focused on acquiring and exploring exploration and evaluation assets in Colombia and the United States. The Company operates in a single reportable operating segment-the acquisition, exploration, and development of mineral properties. Some of the projects acquired by the company are Pamlico gold project in Nevada and Rocky mountain project in Colorado. The company also holds an interest in the Yarumalito property, El Dovio property and Anori property in Colombia.
Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
New gold zone discovered. Since beginning the drilling program in late May, Newrange has drilled 65 holes for a total of 6,538 meters. Newrange recently released assay results for 8 holes (P20-84 through P20-91), while 19 are still pending. In our view, the real story was Hole 91. The hole was drilled to test a near-surface target identified in an earlier IP geophysical survey near the historic Central and Sunset Mines and intersected 0.7 grams of gold per tonne over 18.3 meters, within a larger envelope of lower grade mineralization. A 213.4 meter interval from 122.0 meters at depth to the bottom of the hole at 335.4 meters revealed anomalous gold averaging 0.2 grams of gold per tonne. Management was able to identify a geochemical boundary where a higher-grade zone of gold mineralization was found below 115.9 meters at depth.
Anomaly may lead the way to next big discovery. The recent drilling included 2 holes (P20-90 and P20-91) on anomalies identified in an induced polarization (IP) survey. Of the two, Hole 91 was the most significant given that it tested the near-surface target and alteration zone near a large anomaly and contained the most consistent gold of any hole drilled to date. Management thinks the large ...
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.