Investors Seek Newrange Payoff: Pamlico Mine

Inside Pamlico

“Good enough”  Pamlico assays from early Nevada drilling — Newrange Gold — will be out Monday, CEO Bob Carrington says. That is June 19, 2017. This report is published for TCR Network for Friday June 16 before North America markets closed.

You have heard [TCR Network] about that lush looking old mine (1880s) in Hawthorne, site of a munitions dump (one of the world’s largest), in our TCR Network reports. (Please see earlier reports in your private and public TCR Network reports reaching back 8 or so months.)
Newrange (NRG in Canada ticker and CMBPF in USA) is the former Colombian Mines, owner of Yarumalito and El Dovio there in that country’s mineral belts.
Mr. Carrington says the Toronto Venture Exchange agreed the coming drill assays — reverse circulation along the three-year-old decline into the mine — were “good enough” to halt trading.
I am no fan of halted trading in any instance. Then, I am not the boss here. Just a longtime owner of NRG shares … and a writer and a believer in Bob and Gloria Carrington.
Congratulations one is hopeful enough to wish to the Carringtons, and to those who supported them: Chad Williams at Red Cloud Mining in Toronto (crowd funding), Nate Tewalt, the folks at Golden Predator, Rob Hirschberg and his bold investing team of three up there in Canada and our TCR Network, among others.
Bob Carrington at the tool shed that fronts Pamlico Mine. [TCR photo]
If memory serves me well, as I am away this week on an island, good enough for Bob Carrington, generational Nevadan and a geologist for 40 years running,, is anything approaching even a quarter of the grab bag samples from the decline and surrounding Pamlico patches of veined high-grade gold. So that would be, what?

Your estimate might be better than mine, TCRs. I say we could see many dozens of grams of gold (per metric ton) in at least four 20-meter-plus-thick sections of crumbly and not-so-crumbly reverse circulation rock. The first two “fraternal twin” holes are likely to be published.

The trick will be to show “continuity” as this is crusty, nuggety gold in quartz and granite.  Continuity, that is, in the mineralization that these drillers bring up from 200 to 400 feet or more below the mine decline. Not just a piece of gold here and a piece there.

The Pamlico property that Newrange took over from a local contracting family six or eight months ago has about 102 adits, or openings that “entrance” to miles of “drift.” Prospects are many in three and perhaps four “trends” of veins across the concession.
I look to sell 5,000 or 10,000 shares in a shooting star scenario Monday; unlikely but with a $30 million CAD market worth and few private placement investors from last year and earlier this year willing to depart, NRG/CMBPF shares could shoot the stars above the high-desert plains of Nevada’s central Great Basin.
Those looking for the next assay winner (Mexico) can find details in our TCR Network private reports.  I believe this current one in Nevada will shape up much like Golden Predator’s findings at its Yukon high-grade gold project. As with all of  our TCR propositions, the big gambits, anyway, I have seen the projects and have known the principals for at least 10 years and generally  more.
— Thom Calandra

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Thom Calandra & TCR are researchers and investors. Research and material they offer to subscribers are meant as editorial opinion.