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NuLegacy Gold Corp
Symbol NUG
Shares Issued 586,102,453
Close 2021-04-12 C$ 0.135
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NuLegacy starts drilling Rift Anticline at Red Hill

2021-04-13 06:35 ET - News Release

Mr. Albert Matter reports

CORE DRILLING COMMENCES IN RIFT ANTICLINE

Core drilling has commenced in the about-six-square-kilometre Rift Anticline zone of NuLegacy Gold Corp.'s flagship 108-square-kilometre Red Hill exploration property in Nevada's Cortez gold trend.

The spring/summer 2021 Rift Anticline exploration program includes drilling of 12 holes (the first six of which are shown in a map on the company's website) with some of these as follow-up holes to the four holes drilled in the winter 2020 portion of the program and others as widely spaced stepouts to bring the total maiden exploration test of the Rift Anticline to 16 holes.

Each hole will consist of an approximately 1,000-foot cased precollar drilled through the upper volcanics (basalts and gravel) by a reverse circulation drill rig (collecting RC chip samples); the cased precollar hole will subsequently be re-entered by a diamond core rig drilling the core tail through the limestones to the targeted depth. With total depths of 2,500 to 4,000 feet, it is anticipated the core portions of these holes will take three to five weeks to complete.

Road and pad construction has been virtually completed by Legarza's two crews in the face of wet spring snow conditions. Five of the approximately 1,000-foot precollar holes have been completed to date by Envirotech's double-shifted Atlas Copco RD10 reverse circulation drill rig.

The first of the three Longyear LF-230 core rigs and crew supplied by Major Drilling have commenced drilling the core tail of RA21-01 as depicted in the map on the company's website. It is anticipated the remaining two rigs will arrive during the next two weeks as mobilization and traffic allow and take up station on RA21-02 and -03:

  • RA21-01 is a stepout to the encouraging assay results in hole RA20-04; it is targeting the gold-bearing Wenban and Roberts Mountains formations (identified in -04) at about 160 metres north and about 160 metres east of the initial interception.
  • RA21-02 will be a significant 450-metre stepout to the east of RA20-02 and will be drilled deeper so as to also test for the Roberts Mountains formation as identified in RA20-03 and -04.
  • RA21-03 will be drilled about four kilometres to the south of RA20-04 as an initial test of the southern portion of the Rift Anticline.

NuLegacy has enrolled three additional geologists and geotechnicians to assist in processing all the core, cuttings and material/data from this drilling. As reported in NuLegacy's news release of Feb. 18, 2021, the Rift Anticline has both decalcified and silicified formations within the Wenban and Roberts Mountains horizons, which are favourable gold-bearing hosts in Carlin gold systems.

NuLegacy believes the Rift Anticline target potentially hosts a high-grade Carlin deposit like the nearby Goldrush, Cortez Hills or Pipeline deposits just to the northeast and this 16-hole deep drilling program is aimed at making such a discovery.

On trend

NuLegacy Gold is focused on confirming high-grade Carlin-style gold deposits within the approximately six-square-kilometre Rift Anticline target in the northwest corner of its flagship 108-square-kilometre (42 square miles) district-scale Red Hill property in the Cortez gold trend of Nevada. The Rift Anticline target is located on trend and adjacent to the three multimillion-ounce Carlin-type gold deposits (the Pipeline, Cortez Hills and Goldrush deposits), which are ranked among the world's 30 largest, lowest-cost and politically safest gold mines and are three of Nevada Gold Mines' most profitable mines.

Dr. Roger Steininger, a director of NuLegacy, is a certified professional geologist (CPG 7417) and the qualified person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects, responsible for approving the scientific and technical information contained in this news release.

We seek Safe Harbor.

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