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Newrange Gold Receives BLM Approval to Assume Permits for Underground Sampling and Development of Merritt Decline
(via TheNewswire) V ancouver, British Columbia / TheNewswire / Apri...
About this update from Pinnacle Silver And Gold Corp
[{"type":"text","content":"Newrange Gold Receives BLM Approval to Assume Permits for Underground Sampling and Development of Merritt Decline(via TheNewswire)\n \n \nVancouver, British Columbia / TheNewswire / April 8, 2019 (TSXV: NRG, OTCQB: NRGOF, Frankfurt: X6C) - Newrange Gold Corp. (\"Newrange\" or the \"Company\") is pleased to announce that, further to the Company's press release of March 21 of this year, the US Bureau of Land Management (the \"BLM\") has issued a decision accepting Newrange's proposed assumption of permits and bonding for the Merritt decline and related activities on the Pamlico Project including collecting the permitted 1,000 ton bulk sample. Under the terms of the permits the Company will increase its reclamation bond by posting an additional US$11,359 with BLM bringing the Company's total bond to US$27,784 by May 23, 2019.\n\n\n \nThe Merritt decline is 3 x 4 x 200 meters in dimension and was developed by the prior owners in 2013 at a cost of US$2-3 million. At that time, the decline was specifically permitted with the BLM for test mining and collecting the above-mentioned bulk sample. Newrange's assumption of these permits ensures continued access to the important and valuable Merritt decline where the Company's previously announced saw cut channel sampling yielded 75.5 meters of near surface, oxide gold mineralization averaging 2.92 grams gold per metric tonne (g/t Au). This large mineralized zone, typical of observed mineralization at Pamlico, is crossed by numerous high-grade structures including 13.2 meters averaging 17.25 g/t Au, 4.6 meters at 10.84 g/t Au, 1.5 meters at 36.9 g/t Au, 1.5 meters at 104.75 g/t Au, and others. A map of the decline sampling results may be viewed on the company's website at the following link: https://www.newrangegold.com/site/assets/files/3943/decline-map-ws-model-1.pdf.\n\n\n \n\"Transferring the BLM permits into the Company's name is an important step in advancing our exploration of the Pamlico Project,\" stated Robert Archer, CEO. \"This will allow us to put together a comprehensive program for larger scale metallurgical and geotechnical tests that will have a significant impact on future resource and reserve estimates.\"\n\n\n \nThe bulk sample will be used to generate a \"break of mine\" sample that will more accurately reflect the conditions likely in an actual production scenario includ...