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Mining Company Drills Potential High-Grade Extension at Nevada Project

July 21, 2021 (Investorideas.com Newswire) Newrange Gold’s exploration news is discussed in a Noble Capital Markets report.

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In a July 7 research note, Noble Capital Markets analyst Mark Reichman reported that all four of Newrange Gold Corp.’s (NRG:TSX.V; NRGOF:OTCQB) follow-up diamond core holes drilled at its Pamlico project helped identify “new zones of mineralization that correlate well with that of the historic Pamlico mine.”

Reichman reviewed the results. Newrange drilled holes P21-122 through P21-125 around hole P21-115, located 85 meters east of the Merritt zone. This quartet of holes encountered near-surface oxide mineralization resembling that seen in P21-115, in the Merritt zone and in stopes on Pamlico mine’s 5428 level. This suggests the presence of a previously unknown mine extension.

“The intercept in hole P21-122 is lower in elevation than the 5428 level, indicating this new zone could be a down-dropped extension of high-grade mineralization in the Pamlico Mine,” Reichman commented.

Clarity should come from assays from the four holes, which are pending, he noted.

In other news, Newrange received the results of the expanded induced polarization (IP) survey of the McGill Canyon area at Pamlico. Given the report’s contents, the explorer now plans to drill this area, including the 91 zone and the Line 5 anomaly, next.

“Based on the IP survey results and exploration activities in the McGill Canyon area, we think the company’s planned drilling could result in favorable outcomes,” Reichman wrote.

Noble Capital has an Outperform rating and a US$0.25 per share price target on Newrange, the stock of which is trading at about US$0.12 per share.

Disclosure:

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Newrange Gold. Click here for important disclosures about sponsor fees.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Newrange Gold, a company mentioned in this article.

Disclosures for Noble Capital Markets, Newrange Gold Corp, July 7, 2021

Company Specific Disclosures

The following disclosures relate to relationships between Noble and the company (the “Company”) covered by the Noble Research Division and referred to in this research report.

The Company in this report is a participant in the Company Sponsored Research Program (“CSRP”); Noble receives compensation from the Company for such participation. No part of the CSRP compensation was, is, or will be directly or indirectly related to any specific recommendations or views expressed by the analyst in this research report.

The Company has attended Noble investor conference(s) in the last 12 months. Noble has arranged non-deal roadshow(s) with investors in the last 12 months.

Noble intends to seek compensation for investment banking services and non-investment banking services (securities and non-securities related) within the next 3 months.

Noble is not a market maker in the Company.

ANALYST CREDENTIALS, PROFESSIONAL DESIGNATIONS, AND EXPERIENCE

Senior Equity Analyst focusing on Basic Materials & Mining. 20 years of experience in equity research. BA in Business Administration from Westminster College. MBA with a Finance concentration from the University of Missouri. MA in International Affairs from Washington University in St. Louis. Named WSJ ‘Best on the Street’ Analyst and Forbes/StarMine’s “Best Brokerage Analyst.” FINRA licenses 7, 24, 63, 87.

RESEARCH ANALYST CERTIFICATION

Independence Of View:

All views expressed in this report accurately reflect my personal views about the subject securities or issuers.

Receipt of Compensation:

No part of my compensation was, is, or will be directly or indirectly related to any specific recommendations or views expressed in the public appearance and/or research report.

Ownership and Material Conflicts of Interest:

Neither I nor anybody in my household has a financial interest in the securities of the subject company or any other company mentioned in this report.

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