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Newrange Signs Letter of Intent to Acquire Coricancha Au-Ag-Cu-Pb-Zn Mine in Peru
(TheNewswire) VANCOUVER, BRITISH COLUMBIA – TheNewswire - Se...
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[{"type":"text","content":"Newrange Signs Letter of Intent to Acquire Coricancha Au-Ag-Cu-Pb-Zn Mine in Peru\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n VANCOUVER, BRITISH\nCOLUMBIA –\n \n \n \n \n TheNewswire -\n \n \n \n \n September 13, 2022 (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 \")\n \n \n announces\nthat, on September 12, 2022, it signed a non-binding Letter of Intent\nwith Great Panther Mining Limited (“Great Panther”) to acquire a\n100% interest in the Coricancha Gold-Silver-Copper-Lead-Zinc\n(“Au-Ag-Cu-Pb-Zn”) Mine in Central Peru\n(“Coricancha”)\n \n \n .  It is anticipated that a\nDefinitive Agreement will be signed in the coming weeks.\n \n \n \n \n Coricancha is a high-grade, narrow-vein,\ngold-silver-copper-lead-zinc underground mine in the Central\nPolymetallic Belt of Peru.  It is located 90 kilometres east of Lima\non the Central Highway and comprises a 600 tonne per day processing\nplant, dry-stack tailings storage facility and all necessary surface\nand underground infrastructure.  The mine was in production\nintermittently from 1906 – 2013 and has been on care-and-maintenance\nsince then but is in excellent shape and is fully permitted.  It is\nlocated within a well-established mining district and local\ncommunities are fully supportive of the operation.  Two of three\ncommunity agreements are already in place, with the third only pending\na final signature.\n \n \n \n \n “I am very excited about the opportunity to acquire\nthe Coricancha Mine,” stated Robert Archer, President and CEO of\nNewrange.  “I believe the project presents an exceptional\nopportunity to build a significant resource, develop the known veins\ntowards production and further explore the property.  Despite the\nlong production history, there have only been 105 holes drilled on the\nproperty since 2010 and there is tremendous opportunity to extend the\nmine life and make new discoveries.  In making this acquisition,\nNewrange is effectively following a well-esta...