Wednesday, May 18, 2022
Newrange Gold (NRGOF)
Newrange Rethinks its Portfolio; New Acquisitions Contemplated
Newrange is focused on district-scale exploration for precious metals in the prolific Red Lake District of northwestern Ontario. The past-producing high-grade Argosy Gold Mine is open to depth, while the adjacent North Birch Project offers additional blue-sky potential. Focused on developing shareholder value through exploration and development of key projects, the Company is committed to building sustainable value for all stakeholders. Further information can be found on our website at www.newrangegold.com .
Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
North Birch drilling program. At the North Birch Project, northeast of Red Lake, Ontario, two diamond drill holes were completed for a total of 723 meters. While the winter drill program was cut short due to inclement weather, the drill holes were the first two to test the main target horizon. Management remains optimistic based on commonalities between North Birch and other gold systems within the Uchi sub-province. Recall that the first diamond drill hole on the primary target horizon confirmed the presence of a strong deformation zone greater than 100 meters wide. The sheared and folded basalts and iron formation displayed moderate to high carbonate alteration, and local quartz veining. Newrange anticipates drilling to resume in the summer.
Next steps at Argosy. Recall that Newrange owns a 100% interest in the Argosy property which hosts the past producing Argosy gold mine and is adjacent to North Birch. The first drill sites at Argosy have been prepared, and initial holes will test both the down-dip extension of gold mineralization below the historic mine workings and parallel to veins closer to surface….
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.