Mr. Albert Matter reports
SIGNIFICANT GOLD MINERALIZATION IN NULEGACY'S RIFT ANTICLINE TARGET
NuLegacy Gold Corp. has released results from holes RA2020-03 and 04 from its fall 2020/spring 2021 drilling program.
Hole RA20-04, the deepest hole (2,936 feet) completed in the Rift anticline target to date, "has intersected significant gold mineralization within several intervals of altered Silurian-Devonian Roberts Mountains formation," commented Ed Cope, director of exploration.
Multiple anomalous gold intercepts occur within an approximately 420-foot (128-metre) section of the Roberts Mountains formation. Mineralization within this zone is interpreted to be proximal to a high-grade Carlin-type gold system.
Summary and highlights:
- Anomalous intervals of gold in RA20-04 start at 2,316 feet and extend to 2,831 feet with the most notable intervals being:
- 15 feet (4.6 m) of 1.6 grams per tonne gold within 55 feet (16.8 m) of 0.68 g/t gold; included within this is a five-foot (1.5 m) interval of 3.3 g/t gold;
- 10.5 feet (3.2 m) of three g/t gold within 45.5 feet (13.9 m) of 1.1 g/t gold; included within this is a five-foot (1.5 m) interval of 4.2 g/t gold;
- Numerous shorter intervals of less than one g/t gold to slightly over one g/t gold occur within the 420-foot interval.
Interpretations of structure, alteration and mineralization indicate RA20-04 drilled through the feathery edge of a large Carlin system, somewhere between proximal (150 m) and distal (500 m) to significant gold values.
- Holes RA20-01 through 04 encountered numerous high- and low-angle faults and splays within thick (up to 175 m) sections of the favourable Wenban Unit 5 stratigraphy that have been strongly
altered (both silicification and decalcification), and with the last two holes traversing an overthickened interval of the Roberts Mountains formation, which is also an important ore host within the northern Nevada region (1).
Indications of a Carlin gold-system including brecciation, kaolinite veining, variable decarbonatization, silicification and remobilized carbon have all been observed in the core. Lamprophyre and basalt dikes have also been observed as is the case in many of the higher-grade Carlin deposits within the region.
- The shallower hole RA20-03 (2,687 feet) encountered several small intervals of anomalous gold mineralization also within the Roberts Mountains formation.
As holes RA20-01 and RA20-02 (reported in news release dated Nov. 25, 2020) did not test as deep as hole RA20-04, NuLegacy considers areas of Roberts Mountains formation occurring below the bottoms of these holes as prospective.
- To sum up, the Rift anticline has both decalcified and silicified hosts within the Wenban Unit 5 and Roberts Mountains horizons, demonstrating that the Rift anticline target zone has all of the classic hosting materials of the high-grade Carlin systems and it has gold, albeit in as-yet modest amounts, in the first four holes drilled into the approximately six square km Rift anticline target. NuLegacy now takes the view to drilling all future holes deeper, as well as, perhaps, retesting the northern part of the target at a deeper level.
NuLegacy believes the Rift anticline target, part of its 100-per-cent-controlled, 108 square km Red Hill gold project, potentially hosts a high-grade Carlin deposit like the nearby Goldrush, Cortez Hills and Pipeline deposits owned by Nevada Gold Mines, and has undertaken an aggressive 16-hole deep drilling program aimed at making such a discovery (1).
In a news release dated Feb. 9, 2021, NuLegacy discussed the upcoming spring 2021 Rift exploration program including completion of the remaining 12 or 13 holes as stepouts from the winter 2020 drilling and/or widely spaced 3,000- to 4,000-foot-deep drill holes to bring the total maiden test of the Rift anticline to 16 or 17 holes, with drilling scheduled to start in the second half of March, 2021.
is focused on confirming high-grade Carlin-style gold deposits within the approximately six square km Rift anticline target in the northwest corner of its flagship 108 square km (42 square mile) district-scale Red Hill property in the Cortez gold trend of Nevada. The Rift anticline target is
on trend and adjacent
to the three, multimillion-ounce
Carlin-type gold deposits (the Pipeline, Cortez Hills and Goldrush deposits), which are ranked amongst the world's 30-largest, lowest-cost and politically safest gold mines, and are three of Nevada Gold Mines' most profitable mines (1)
The similarity and proximity of these deposits in the Cortez trend including Goldrush are not necessarily indicative of the gold mineralization in NuLegacy's Red Hill property.
As extracted from Barrick's Q4 2013 and Q1 2014 reports. As reported by Barrick, the Goldrush resource contains 8,557,000 indicated ounces of gold within 25.78 million tonnes grading approximately 10.57 g/t and 1.65 million inferred ounces within 5.6 million tonnes grading approximately nine g/t.
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Sampling methodology, chain of custody, quality control and quality assurance
All drilling and sampling was conducted under the supervision of the company's project geologists and the chain of custody from the project to the sample preparation facility were continuously monitored. A blank or certified reference material was inserted approximately every 10th
sample. The samples were delivered to American Assay Lab or ALS Laboratories' independent preparation facility in Nevada. The samples were crushed, pulverized and sample pulps were analyzed using industry standard fire assay methods. Data verification of the analytical results included a statistical analysis of the standards and blanks that must pass certain parameters for acceptance to ensure accurate and verifiable results.
The reported intercepts are not necessarily true widths, as there is insufficient data currently with respect to the shape of the mineralization to calculate its true orientation.
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