NuLegacy Commences Winter Drilling Program
15 Novembre 2023 - 1:11AM
NuLegacy reports that drilling has commenced on its flagship 108 sq
km Red Hill property in the Cortez section of the prolific Battle
Mtn-Eureka-Cortez gold trend of Nevada.
Drilling commenced on hole M23-01, the first of
the planned five-hole winter 2023/4 drilling program, with a
truck-mounted Ingersoll Rand RD-10 RC drill capable of drilling to
3,000 feet. With an initial targeted termination depth of 2,000
feet, it is expected to take 7/8 days to complete; the rig will
then move to hole IS23-02 as per the plan map below: to enlarge
drill map: https://bit.ly/p12-DrillTargetMap
“With this configuration of holes, the
probability of drilling a discovery hole, or being close enough
that the alteration and geochemical analysis from that hole will
vector us in the right direction, is very good.” Nancy
Richter, exploration team leader.
About NuLegacy Gold: NuLegacy
Gold is exploring for high-grade Carlin-style gold deposits on its
incredibly well located 108 sq. km (42 sq. mile) district scale Red
Hill property. Red Hill is on trend/adjacentI to three of
Nevada Gold Mines’ most profitable multi-million ounce Carlin-type
gold mines; the Pipeline, Cortez and GoldrushII with their massive
50+ million ounces gold endowment. These are three of the thirty
largest, lowest cost, highest grade, and politically safest gold
mines, producing circa 3% of the world’s gold. Seven of
NuLegacy’s principals/exploration team members have contributed to
the discovery/expansion of one or more of Nevada’s seven massive
Carlin-style gold deposits.
On Behalf Of The Board Of NuLegacy Gold
Corporation
Albert J. Matter, Chief Executive Officer &
Cofounding Director Tel: +1 (604) 639-3640; Email:
albert@nuggold.com
For more information about NuLegacy visit:
www.nulegacygold.com or www.sedarplus.ca
Dr. Roger Steininger, a Director of NuLegacy, is
a Certified Professional Geologist (CPG 7417) and the qualified
person as defined by NI 43-101, Standards of Disclosure for Mineral
Projects, responsible for approving the scientific and technical
information contained in this news release.
Cautionary Statement on Forward-Looking
Information: This news release contains forward-looking
information and statements under applicable securities laws, which
information and/or statements relate to future events or future
performance (including, but not limited to, the locations, depths,
priorities and timing of the Company’s proposed five-hole winter
2023/24 drill program and the expected results therefrom including
the likelihood of hitting a discovery hole) and reflect
management’s current expectations and beliefs based on assumptions
made by and information currently available to the Company. Readers
are cautioned that such forward-looking information and statements
are neither promises nor guarantees, and are subject to risks and
uncertainties that may cause future results to differ materially
from those expected including, but not limited to, market
conditions, availability of financing, actual results of
exploration activities and drilling, unanticipated geological,
stratigraphic and structural formations, misinterpretation or
incorrect analysis of projected geological structures, alterations
and mineralization, environmental risks, operating risks, adverse
weather conditions, accidents, labor issues, delays in obtaining
governmental approvals and permits, inability to secure drilling
equipment and/or contractors on a timely basis or at all, delays in
receipt of assay results from third party laboratories, inflation,
future prices for gold, changes in personnel and other risks in the
mining industry. There are no assurances that the Company will
successfully complete the proposed 2023/4 winter drill program, in
whole or in part. Furthermore, there are no known mineral resources
or reserves in the Red Hill Property, the proposed drill program is
an exploratory search for ore and the presence of gold resources on
properties adjacent or near the Red Hill Property including the
Goldrush deposit is not necessarily indicative of the gold
mineralization on the Red Hill Property. There is also uncertainty
about the continued spread and severity of COVID-19, the ongoing
wars in Ukraine and Gaza, elevated inflation and high interest
rates and the impact they will have on the NuLegacy’s operations,
personnel, supply chains, ability to raise capital, access
properties or procure exploration equipment, supplies, contractors,
and other personnel on a timely basis or at all and economic
activity in general. All the forward-looking information and
statements made in this news release are qualified by these
cautionary statements and those in our continuous disclosure
filings available on SEDAR+ at www.sedarplus.ca. The
forward-looking information and statements in this news release are
made as of the date hereof and the Company does not assume any
obligation to update or revise them to reflect new events or
circumstances save as required by applicable law. Accordingly,
readers should not place undue reliance on forward-looking
information and statements.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
I |
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. |
II |
Currently structured as an underground mine Goldrush contains
P&P: 7.8 M oz @ 7.29 g/t; M&I: 8.5 M oz @ 7.07 g/t
(inclusive of P&P); and Inferred: 4.5 M oz @ 6.0 g/t (as of
December 31, 2021). Source: Corporate presentation of Nevada Gold
Mines – Goldrush Underground dated September 22, 2022. |
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