Newrange Gold Corp. (TSXV:NRG / OTC: NRGOF)
“Where Exploration INTERSECTS Discovery”
There is good news coming out of Nevada for Newrange Gold (TSXV:NRG) (OTC: NRGOF). In recent news, the company announced it has completed an IP survey of its Pamlico Project, and the results have been very encouraging.
Induced Polarization (IP) surveys are an essential tool used by exploration companies. Simply put, IP surveys use subsurface electronic charges to help identify underground mineral deposits. In most cases, this technique is used to identify specific target areas within a vast property before drilling begins; or in Newrange Gold’s case, identify new opportunities leading to property expansion.
This most recent IP survey completes the coverage of Newrange Gold’s existing property, close to 80 line kilometres. In addition to defining and expanding upon known anomalies, which was already good news, the IP survey results also identified three new anomalous chargeability locations butted against existing borders. On the results, Newrange Gold increased their land stake to capture these new areas of interest, more than doubling their existing property size.
These newly discovered anomalies come on the heels of a February announcement that Newrange Gold had uncovered high-grade gold mineralization just east of its Merritt Zone. Drilling is set to recommence at that site shortly.
Those who follow any exploration companies, like Newrange Gold, have no doubt read about or at least heard mention of Induced Polarization without really understanding what it is.
Induced polarization was initially discovered by geologists using resistivity surveys for sub-surface mapping. While emitting electro currents measuring the resistivity of rock formations, they discovered that certain materials were polarizable – when an electric current passed through and then turned off, the charge did not disperse immediately but instead wore off over time.
Modern induced polarization surveys are conducted in pretty much the same way, just with fancier tools. Electrodes staked into the ground emit a subsurface electrical current charging the surfaces on any metallic minerals located between points A and B. The current is then switched off, but the voltage between A and B continues to be monitored. The amount of time it takes for the charge to decay is the IP, and this measure can tell geologists a lot about what minerals might be beneath the surface.
IP surveys are especially useful for mineral exploration companies where gaining as much information about what is below the surface is critical to their operations. And for Newrange, the latest IP results could be something to get excited about.
IP Surveys are very effective in determining what minerals are located within a host rock. While all rocks give off some IP, most produce only a slight background noise effect. Careful interpretation of IP surveys allows exploration companies to differentiate between economically important mineral deposits, like copper, gold, and silver, which produce significant IP signatures, and other deposits.
Anomalous areas are exposed when specific geophysical properties, like radiometric, magnetic, electromagnetic, and gravity, differ from the surrounding areas. These differences could be the result of mineralization, which is of significant value to mineral exploration companies.
In the Newrange Gold case, IP surveying has been critical in detecting remnant pyrite associated with gold mineralization. We’ve seen it at other sites within the Pamlico Project, and the latest IP survey, which expanded existing sites while uncovering new anomalous zones, could produce equally promising results.
There are now several areas of significant interest around the Pamlico Project. In addition to expanding upon previously discovered anomalous zones and finding three other sites, Newrange Gold has already identified anomalies they interpret to be gold mineralization in the Merritt and ‘91’ Zones.
The Reverse Circulation (RC) drilling program east of the Merritt Zone will soon resume after high-grade gold mineralization was found in the area. At the same time, a diamond drilling program will begin. The new program will test the deep chargeability anomalies in the ’91’ and Skarn Zones. At least five holes totaling 2,500 metres will be drilled, and the company has already said that the program is likely to be expanded.
The Pamlico District is well known for its high-grade mineral deposits. However, Newrange’s most recent IP survey might be an indication that past production could be the tip of much more extensive, previously hidden, mineral deposits.
On April 26th, the company announced the completion of an IP survey on the Company’s North Birch Project in the Red Lake Mining Division of Ontario. According to the press release, a total of 73.7 line kilometers of Gradient Array IP were completed, primarily over the eastern part of the project and covering seven kilometers of strike length along the main target horizon. The survey was successful in outlining a number of high priority targets for the upcoming summer drill program.