NuLegacy Provides Update - Seite 3

Their detailed review of the data (supported by subsequent field work) indicates that our first hole in the Mid-rift hit a gap in the Wenban5 (Dw5)…see illustration just below:   

High-grade gold to the east: to enlarge map click https://bit.ly/high-gradegold

Examples of some of the more robust reported intercepts include:

• 9.6 grams/tonne over 5.1 meters (WS19-02),
• 16.9 grams/tonne over 8.7 meters in the Serena zone (SR18-02C),
• 11.0 grams/tonne over 12.2 meters, and,
• 25.2 grams/tonne over 4.6 meters (RHB40 and RHB58 respectively)² in the north Iceberg zone as illustrated just below, with 5-foot intervals – individual ‘hits’ as high as 40+ grams/tonne.³

• Furthermore, and very importantly, the “dream” team’s review highlighted a Cretaceous diorite intrusive associated with metamorphic alteration, with dike zones known to occur along the Iceberg Corridor and the Mid-rift target area, as inferred from surface mapping of metamorphic alteration to the east of the Iceberg fault. Such an intrusive is often associated with the highest grades in Carlin-type systems as is the case at the northern end of Goldrush in the Fourmile deposit, just ten kms or so to the north-west of NuLegacy’s Red Hill/Mid-rift zone.
• Four of the five planned drill targets are focused proximally to or above these larger intrusive bodies where the other positive targeting elements intersect as illustrated in the cross-sections linked at: drill target plan map & cross-sections.

Drill Target Plan Map: to enlarge map click https://bit.ly/2023drilltargetmap

Proposed drilling program: Pending completion of the Financing, the proposed 5-hole fall 2023 drill program (as illustrated in the listed links to their cross-sections) is approximately 3,000 meters (~10,000 feet) of RC (reverse circulation) holes with average depths of 600 meters (2,000 feet) focused on the Mid-rift, South-West-rift, and South Iceberg target areas at a budgeted cost of US$1.25 million.

Possible outcomes: The global review by the new geo-team has improved NuLegacy’s confidence in the continuity of major Carlin-type gold structures between the Pipeline, Cortez Hills mines and Goldrush deposit onto the Red Hill property and thus the potential for a large Carlin-style gold deposit at Red Hill.

If we are successful, after a 13-year pursuit, in discovering a Carlin-style gold deposit at Red Hill like our neighbors to the northeast, we will seek to:

• raise further funds to begin delineation drilling with a view to optimizing our values; and,
• encourage those Nevada based producers who have expressed some interest to take over and expend the considerable funds it will take to fully explore and develop such a deposit.

About NuLegacy Gold: NuLegacy Gold’s focus is discovering a high-grade Carlin-style gold deposit on its flagship 108 sq. km (42 sq. mile) district scale Red Hill Property in the Cortez gold trend of Nevada directly on trend and adjacentⁱ to three, multi-million ounce Carlin-type gold deposits (Pipeline, Cortez Hills and Goldrush) that are ranked amongst the world’s thirty largest, lowest cost, highest grade and politically safest gold mines and are three of Nevada Gold Mines’ most profitable mines.ⁱⁱ