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Newrange Provides Additional Information on Argosy Gold Mine in the Red Lake Mining Division
(TheNewswire) VANCOUVER, BRITISH COLUMBIA – TheNewswire - ...
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[{"type":"text","content":"Newrange Provides Additional Information on Argosy Gold Mine in the Red Lake Mining Division\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n VANCOUVER, BRITISH\nCOLUMBIA –\n \n \n \n \n TheNewswire -\n \n \n \n \n November 2, 2021 (TSXV:NRG\n \n \n \n \n )\n \n \n \n \n ,\n \n \n \n \n (OTC:\n \n \n \n \n NRGOF\n \n \n \n \n )\n \n \n \n \n ,\n \n \n \n \n (\n \n \n \n \n Frankfurt:X6C)\n–\n \n \n \n \n Newrange Gold Corp.\n \n \n \n (\"\n \n \n Newrange\n \n \n \" or the “\n \n \n Company\n \n \n \") is pleased to provide\nadditional information on its wholly owned Argosy Gold Mine in the Red\nLake Mining Division of northwestern Ontario\n \n \n .\n As announced on November 1, the Company has acquired a 100% interest\nin the mine property from Great Panther Mining Limited through the\nacquisition of its subsidiary, Cangold Limited.\n \n \n \n \n The Argosy Gold Mine is the most significant\npast-producing gold mine in the Birch-Uchi Greenstone Belt, having\nproduced 101,875 ounces of gold and 9,788 ounces of silver at a gold\ngrade of\n \n \n 0.37 ounces per ton (oz/t) (12.7 grams\nper tonne (g/t))\n \n \n (Ontario Ministry of Northern\nDevelopment and Mines archives).  It closed in 1952 due to high\noperating costs and a $35/oz gold price.  Production came from only\nfour veins, although more than 12 are now known, and only to a maximum\ndepth of 900 feet (270 metres).  The property consists of 43 patented\nclaims and 17 Mining Licenses of Occupation comprising 604\nhectares.\n \n \n \n \n “The Birch-Uchi Belt is rapidly becoming an area of\nsignificant exploration focus and the acquisition of a past-producing,\nhigh-grade mine only 10 kilometres northwest of the Springpole Deposit\nbeing advanced by First Mining Gold Corp. and less than a kilometre\nfrom our North Birch Project establishes Newrange Gold as a major\nplayer in the region,” stated Robert Archer, Newrange President\n& CEO.  “The Argosy Gold Mine has seen minimal exploration\nbelow the old mine workings and there is excellent potential to extend\nthe mineralization to depth and to discover new veins elsewhere on the\nproperty.”\n \n \n \n Geology\n \n \n \n The Property is underlain by a folded sequence of\ninterbedded mafic volcanics, greywacke, argillite, iron formation and\ninterme...