179 0 Kommentare NuLegacy Update on Permitting and Exploration Progress - Seite 2

Geo-modeling update: NuLegacy has completed its preliminary structural model for the Rift Anticline targeting utilizing the results of recent drill holes (see February 8, 2020 news release), and the data from the numerous CSAMT (Controlled Source Audio-frequency Magnetotellurics) and gravity surveys focusing on known mineralized controlling structures (i.e. Long Fault).

NuLegacy has identified three high-priority targets in the northern half of the Rift Anticline and three additional targets extending to the south along the anticline trend covering approximately 4.5 km (and open on both ends) with an indicated width varying from 700 to 1,450 meters. Detailed drill plans are being developed for the initial 16 deep hole drill program (US$ 3.5 million) to comprehensively test the targets, commencing with the more developed northern targets.

Mark Bradley, NuLegacy’s Vice-President, Exploration comments, “The new structural model for the Rift Anticline is a powerful exploration tool, allowing us to prioritize our initial drilling efforts within the large (5-6 sq. km) Rift Anticline target area and optimize the chances for early discovery.”

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.

“The trend is our friend” – NuLegacy Gold is focused on confirming high-grade Carlin-style gold deposits on its premier 108 sq. km (42 sq. mile) district scale Red Hill Property in the Cortez gold trend of Nevada. The Red Hill Property is located on trend and adjacent^I to the three, multi-million ounce Carlin-type gold deposits (the Pipeline, Cortez Hills and Goldrush deposits) that are amongst Barrick Gold’s and the world’s largest, lowest cost and politically safest gold mines^II.

^I The similarity and proximity of these deposits in the Cortez Trend including Goldrush is not necessarily indicative of the gold mineralization in NuLegacy’s Red Hill Property.

^II 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 ~10.57 g/t and 1,650,000 inferred ounces within 5.6 million tonnes grading ~9.0 g/t.