Newrange Gold Corp (CVE:NRG) (OTCMKTS:NRGOF) announced Monday that it had received acceptance from the US Bureau of Land Management to assume permits for underground sampling at its Pamlico project in Nevada.
Shares of Newrange were up nearly 3% to C$0.18 in Canada and US$0.12 in the US on Monday afternoon.
The Vancouver-based company is advancing the Pamlico gold project with a 1,000-ton bulk sampling program and developing the Merritt decline, where Newrange’s previous sampling yielded nearly 76 metres of near surface gold mineralization averaging 2.9 grams per ton gold.
"Transferring the BLM permits into the Company's name is an important step in advancing our exploration of the Pamlico Project," said Robert Archer, CEO of Newrange in a statement. "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."
The bulk sample will be used to generate a type of sample that will more accurately reflect the likely conditions in a production scenario, such as rock fragmentation and power requirements, which will provide Newrange with an idea of the most desirable mining methods.
Newrange has also purchased the major underground mining equipment needed to extract the bulk sample.
--Updates with share price--
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