NuLegacy Completes First Four Holes In New Rift Anticline Target

Confirms large gold-bearing Carlin-style hydrothermal system

RENO, Nev., Dec. 15, 2020 (GLOBE NEWSWIRE) -- NuLegacy Gold Corporation is pleased to report on the first four holes of the initial 16-hole reconnaissance drilling program planned for the previously untested Rift Anticline exploration target.

Summary: The first four holes have provided additional strong evidence that the Rift Anticline potentially hosts a high-grade Goldrush style gold deposit:

• with very thick horizons (up to 175+/- metres) of favourable Wenban Unit 5 (W5) stratigraphy,
• that have undergone intense structural deformation and alteration and appear to host two, possibly three, parallel anticlinal features along most of its 6 km strike.

Holes RA2020-01 and -02 were drilled to a depth of 585 and 630 metres and have been logged, split, and assayed for gold (trace element analyses still in progress). Holes -03 and -04, which were just completed to a depth of 806 and 895 metres, are being logged and readied for splitting and assaying with results anticipated by late January.  

Assay results from RA2020-01 and -02 returned numerous intercepts of anomalous gold (e.g. 0.17 grams/tonne over 16 ft in W5; 40 feet of 0.55 g/t in W5/basalt contact), though no high grade ‘kicks’ as in the indicator results from the Serena and North zones (16 grams to 40 gram/tonne) 2,000 metres to the east.

“I am very impressed with these results,” commented Mr. Ed Cope, Director, Exploration for NuLegacy Gold. “There are numerous subtle signs in the geology and geochemistry of these results, that are difficult to articulate in a brief news release, and might appear inconsequential to the uninitiated, that indicate there is a significant gold deposit ‘lurking nearby’.”

Details: Structurally, all four holes encountered numerous high and low angle faults and splays within very thick (up to 175 metres) sections of favourable Wenban Unit 5 stratigraphy that has been strongly altered (silicification, decalcification, etc.). This indicates substantial volumes of mineralized fluid-flows have occurred along the multiple faults and splays within the ~6 sq. km Rift Anticline.

These four holes represent the first stage of NuLegacy’s initial 16-hole drill program designed to thoroughly test the ~6 sq. km Rift Anticline target. NuLegacy’s geological modelling, which has been validated by these holes, indicates that the potential high-grade material (10 to 40 grams/tonne as in the Serena and North zones) would likely occur within a ½ to 1 sq. km area, a small fraction of the total ~6 sq. km Rift Anticline target analogous to the thin ‘ribbon-like’ high grade deposits at Goldrush approximately ten kilometres to the northwest.