Tuesday, September 22, 2020
Newrange Gold (NRGOF)(NRG:CA)
Moving Up the Learning Curve
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.
Second set of drill results. To date, the company has drilled 34 holes for a total of 3,462 meters of drilling along Pamlico Ridge between an area of high-grade mineralization drilled at the Merritt Decline in 2017 and the historic Gold Bar Mine. Initial results from the first 14 holes, announced on July 30, revealed higher grade structures, up to 9.5 grams of gold per tonne, surrounded by lower grade material. Results from the remaining 20 holes further confirmed gold mineralization on the Pamlico property receptive to heap leach mining. However, based on recent drilling, management realized that the drill rig used was unsuitable for the terrain and many of management’s higher priority targets were not able to be accessed.
Initial results inform the next phase of drilling. Newrange hired a new contractor with more suitable equipment and drilling resumed on September 19. An additional 35 holes are planned, including diamond drilling later in the program to test targets at depth. With the new drill rig, management expects to be able to drill at the Good Hope Mine at the south end of Pamlico Ridge where Newrange …
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*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.
