After raising $525,000 in its first public share offering, Long Range Resources (ASE) is gearing up to explore several gold properties in Newfoundland this spring. The main focus of this year’s work will be Long Range’s 320- claim Chetwynd gold property, six kilometres west of the Hope Brook gold mine. The company reports visible gold showings were discovered on surface last year in a narrow quartz vein system over a strike length of about 250 ft.
This year’s program on the Chetwynd claims will include trenching, sampling and diamond drilling over the previously discovered AT zone where values of up to 1.08 oz. gold across 2-ft. widths have been detected in narrow quartz veins over a strike length of 225 ft. The veins are hosted by felsic volcanic rocks on the margins of a granite intrusion.
Meanwhile, Calgary-based Varna Gold (ASE) has filed an amended statement of claim against Long Range regarding its Newfoundland properties. The former company claims interests in all properties held by Long Range in Newfoundland, encompassing some 849 claims totalling 33,960 acres. Varna has also filed a complaint against Dearin Geological and Long Range President Charlie Dearin with the Association of Professional Engineers, Geologists and Geophysicists of Alberta. A formal hearing is scheduled for March 23, according to Varna.
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