Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Newrange Gold finalizes Columbia and Red Lake asset deals to focus solely on Ontario and Nevada

% of readers think this story is Fact. Add your two cents.


Newrange Gold Corp (CVE:NRG) (OTCMKTS:NRGOF) (FRA:X6C) is now solely focused on exploration in Nevada and Ontario, the company said Monday, as it concluded the sale of its Colombian assets. 

In a statement, the group said it had completed the sale of its Yarumalito property in the South American country and the government had now transferred the title to GoldMining Inc (TSE:GOLD) (NYSEAMERICAN:GLDG) (FRA:BSR). This means 559,179 GoldMining shares held in escrow have now been released to Newrange. 

READ: Newrange Gold announces the expansion of gold mineralization at its Pamlico project in Nevada

Newrange has also now finalized the sale of its Colombian subsidiary and the El Dovio project to Andean Mining Corp, netting the company US$750,000. 

Newrange retains a 1% net smelter return (NSR) royalty on the Yarumalito project and a 2% NSR royalty on the El Dovio project.

Also today, the company said it had now exercised its option to acquire from Bounty Gold Corp a 100% interest in the H Lake property in Red Lake, Ontario. As reported last January, this project is contiguous to the western boundary of Newrange’s Western Fold property (now called the North Birch gold project) in the Birch-Uchi greenstone, which Newrange optioned from AurCrest Gold Inc (CVE:AGO) (OTCMKTS:TBMIF) (FRA:TM8A) in late 2019.

Together, these two properties span 3,850 hectares and cover the entire iron formation package. They were given the new name of the North Birch project.

Newrange has now paid $50,000 in cash and issued 400,000 shares to Bounty for H Lake, which is subject to a 2% NSR royalty. 

Newrange has also made the first-anniversary cash payment and share issuance on the Western Fold Property that forms the eastern portion of North Birch.  There is one year left on the option to acquire a 100% interest in the Western Fold property, also subject to a 2% NSR royalty.

Newrange’s flagship project is Pamlico in Nevada, US, which is poised to become a significant new discovery in the US state.

Contact the author at [email protected]

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/938735/newrange-gold-finalizes-columbia-and-red-lake-asset-deals-to-focus-solely-on-ontario-and-nevada-938735.html


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST


Order by Phone at 888-809-8385 or online at https://www.herbanomic.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse
Loading...

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.