NuLegacy Selects Priority Drill Targets - Seite 2

The larger bodies of these favorable Cretaceous diorites are interpreted at depth based on strong resistive zones in CSAMT geophysics, and coincident zones of stronger metamorphic alteration mapped at surface and intercepted in drilling. The major drill targets are focused proximally to or above these larger bodies where all other positive target elements intersect as illustrated in the cross-sections below.

Although both epithermal and Carlin style mineralization have been identified at Red Hill, NuLegacy’s exploration focus has been on Carlin style mineralization which presents the opportunity for the larger prize. Gold mineralization occurs along both low and high-angle faults, most often at fault intersections, with the best grade closely associated with altered lamprophyre dikes.

Some of the more robust intercepts drilled in the deposit areas include 41.2m @ 3.91 g/t including 12.2m @ 10.95 g/t and 4.6m @ 25.21 g/t and 35.1m @ 3.41 g/t including 21.3m @ 5.31 g/t in the North zone (RHB40 and RHB58)² and 22.1m @ 6.59 g/t including 8.7m @ 16.92 g/t in the Serena zone (SR18-02C).³

2023 Drill Target Synthesis Plan Map: https://bit.ly/2023drilltarget

While there are numerous drill target areas at Red Hill, the 5 highest priority targets are in the Mid Rift, South Iceberg, and West Rift (Phase 1 proposed drill sites in figure above) determined by geochemical vectoring from existing results and focused along sets of north-northwest trending, steep dipping faults associated with metamorphic and metasomatic alteration at intersections with low angle west dipping fault zones as areas likely to have thick potentially gold bearing host rock sequences and near-vertical bedding within the best host rock sequences.

Pending financing the proposed five-hole Phase 1 2023 drill program (as illustrated in the following cross-sections in green) is approximately 3,000 meters (~10,000 feet) of RC-holes with average depths of 600 meters (2,000 feet) focused on the Mid-Rift, South-West Rift and South Iceberg target areas. Cross-sections from the plan map above covering the five holes are shown directly below.

Cross Section N4431500, Mid Rift drill site MR23-01: https://bit.ly/CrossSectionN4431500

Cross Section N4431500, Mid Rift drill site MR23-01: 120-meter thick Dw5 between CMZ-E and CMZ-F faults at intersection with Migo fault, proximal to interpreted Central Zone diorite body at depth.

Cross Section N 4430300: https://bit.ly/CrossSectionN4430300