NuLegacy Gold Drills 9.6 Grams/Ton Gold

CSAMT results indicate Rift Anticline hosts much thicker favourable gold-bearing horizon

VANCOUVER, British Columbia, Feb. 18, 2020 (GLOBE NEWSWIRE) -- NuLegacy Gold Corporation reports on the winter 2019 exploration program on its flagship 108 sq. km Red Hill gold property in the Cortez gold trend of Nevada.

The winter program consisted of five core holes totalling 2,230 meters (~7,300 ft) on both flanks of the Rift Anticline target and a CSAMT survey over the Rift Anticline. Four holes were drilled on the eastern flank of the Rift Anticline, including two at Western Slope and two at the Serena Offset targets, with one incompletion on the western flank in the 4Mile Look-a-like target.

Hole WS19-02, drilled on the eastern flank of the Rift Anticline¹, returned a high-grade interval grading 9.6 grams/ton gold over 5.2 meters starting at 353 meters (with an internal spike to 25 grams/ton gold) within 27.1 meters of the strongly altered (silicification, decarbonatization and brecciation) favourable Wenban5 horizon and contained elevated gold values (greater than 200 ppb) throughout.

This is another in the series of the significant high-grade albeit only moderately thick intercepts that have been encountered across a span of ~1,400 meters from the North Iceberg (11.0 grams/ton gold within 12.2 meters) through the Serena zone (16.9 grams/ton gold within 8.7 meters)², and now the Western Slope (9.6 grams/ton gold within 5.2 meters) vectoring towards the northeast-southwest trending Rift Anticline. Rift Anticline Goldrush Analogue Slide #4

“These are significant results”, commented Ed Cope, NuLegacy’s Director of Exploration³, “as the intense alteration accompanied by high-grade (greater than 10 gram/tonne) gold values intersected in these holes indicate the presence of a robust Carlin-type mineralizing system capable of producing a significant gold deposit in the Rift Anticline target abutting to the west.”

Thick intervals of high-grade gold within a distinctive anticlinal structure and highly fractured geochemically favourable gold bearing Wenban5 stratigraphic horizon are characteristic of what make Barrick Gold’s three multi-million-ounce gold deposits (the Pipeline, Cortez Hills and Goldrush deposits⁴) on trend immediately to the north so valuable⁵. The high-grades commonly occur at the intersection of northeast trending high-angle faults and low-angle thrust faults when these intersections occur within the favourable Wenban5 stratigraphic horizon. The Wenban5’s elevated iron content acts to enhance the precipitation of the gold from the gold-bearing hydrothermal fluids as they pass through that horizon.