Mining Explorer 'Making Significant Progress on Two Fronts'

(MENAFN- Investor Ideas) February 12, 2021 (Investorideas.com Newswire) The winter work Newrange Gold is doing at North Birch in Ontario and Pamlico in Nevada is summarized in a Noble Capital Markets report.

In a Feb. 9 research note, Noble Capital Markets analyst Mark Reichman reported that Newrange Gold Corp. (NRG:TSX.V; NRGOF:OTC) is advancing two projects, North Birch in Ontario and Pamlico in Nevada.

"With Newrange getting closer to understanding the potential source of gold mineralization for the Pamlico District and laying the groundwork for drilling at North Birch, we believe this year's exploration and drilling programs could accelerate the company's development and provide significant catalysts for the stock," Reichman commented.

He described the exploration work the Vancouver-based exploration firm has going at both properties and what it aims to achieve from the efforts.

At North Birch in Canada, Newrange is preparing for an induced polarization (IP) geophysical survey to commence in about 10 to 14 days. The primary survey target is an 8 kilometer (8 km), undrilled area that is part of a folded iron formation.

That area "extends 2 km along strike into the high-grade Argosy gold mine which closed in 1952," Reichman noted. "There are multiple showings in the rocks to the south of the main target horizon."

The objective of the survey is to help Newrange delineate areas of sulphide enrichment and thereby identify targets for diamond drilling to follow. The company still needs to receive the necessary drill permits but indicated drilling could begin as early as April.

Also, Reichman relayed, Newrange exercised its option to acquire the H Lake property, 3,830 acres adjacent to the western part of North Birch. Both properties cover part of the same folded iron formation as the Western Fold property. Together, North Birch, H Lake and Western Fold span 9,514 acres and encompass the entire folded iron formation.

As for its Nevada project, Pamlico, Newrange is conducting an IP geophysical survey there, too, to obtain clarification of two anomalies. One is 1,000 meters wide by 1,000-plus meters long, which the company suspects was caused by a sulfide-rich skarn system. The other anomaly is located about 3.8 km to the southeast of the first and is smaller.

"The survey will help management to better interpret the geological environment and improve targeting for an upcoming diamond drilling program," Reichman wrote.

Noble Capital has an Outperform rating and a US$0.20 per share target price on Newrange Gold, the stock of which is now trading at about US$0.10 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.

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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, Feb. 9, 2021

Company Specific Disclosures
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 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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