NuLegacy Gold Extends the Iceberg Gold Deposit to 1,100 Meters
26 Giugno 2013 - 11:30AM
Marketwired Canada
NuLegacy Gold Corporation (TSX VENTURE:NUG) reports the results of the recently
completed five-hole reverse circulation drilling program on its flagship Red
Hill Project. The 60 sq. km Red Hill project is in the Cortez trend of Nevada
directly adjacent to Barrick Gold Corporation's multi-million ounce Goldrush
discovery.
"We are very pleased with these drill results," says Dr. Steininger, NuLegacy's
COO, "as we continue to intersect good grades of oxide gold in near surface
Devonian carbonates, which is the material that hosts so much of the gold in the
large Carlin-type gold deposits of the Cortez Trend. We have discovered a new
Northern zone of at least 350 meters of strike length with higher grade oxide
gold mineralization (6.1 meters of 5.62 grams of gold), and extended the Central
zone of the Iceberg deposit to 750 meters (from 400 meters) of strike length."
These carbonate zones lie beneath a thin veneer of gold-bearing volcanics that
was the focus of much of the historical drilling on the Red Hill project, and
stretches for four kilometers above the Iceberg gold deposit. The two zones are
200 to 250 meters wide, 25 to 70 meters thick with gold grades of 0.5 grams/T to
greater than 5.0 grams/T. They have a combined overall strike length in excess
of 1,100 meters, separated by an as-yet untested intervening gap of
approximately 900 meters where no historical holes were drilled deep enough to
penetrate to the carbonates. (See diagram at http://goo.gl/neaWz). Plans are
being made to drill to the north and south and in the intervening gap of these
two zones.
Iceberg Gold Deposit Extended: Four of the five holes were targeted to extend
the strike length of the Iceberg deposit. As summarized in the table below three
of those four holes returned favorable gold grades and intervals. The fifth
hole, RHB-15, which was drilled 800 meters to the east of the Central zone to
test for a possible parallel system had no significant gold values.
The best result came from hole RBH-17 with a significant near-surface intercept
of 41.2 meters (135 ft) of 1.02 grams/T. It included 6.1 meters of 5.62 grams /T
of gold (20 ft of 0.18 oz. gold/ton) indicating that the system is capable of
generating very favorable oxide gold grades.
----------------------------------------------------------------------------
Hole Number From To Length From To Length Grade
----------------------------------------------------------------------------
(ft) (ft) (ft) (m) (m) (m) g/T Au
----------------------------------------------------------------------------
RHB-17 235 370 135 71.6 112.8 41.2 1.02
----------------------------------------------------------------------------
including 300 320 20 91.4 97.5 6.1 5.62
----------------------------------------------------------------------------
RHB-14 345 400 55 105.2 121.9 16.7 0.51
----------------------------------------------------------------------------
including 375 390 15 114.3 118.9 4.6 1.12
----------------------------------------------------------------------------
RHB-13 355 430 75 108.2 131.1 22.9 0.71
----------------------------------------------------------------------------
including 365 395 30 111.3 120.4 9.1 1.13
----------------------------------------------------------------------------
These intercepts are not necessarily true widths as there is insufficient
data at this time with respect to the shape of mineralization to calculate
its true orientation.
----------------------------------------------------------------------------
The geometry of the new Northern zone (350 meter length) is supported by several
historical holes that were drilled deep enough to intercept the underlying
Devonian carbonates, particularly hole RH92-2 with 24.4 meters of 3.4 grams of
gold/T (80 ft of 0.11 oz. gold/ton). Hole RBH-16, drilled to test for a possible
westerly extension of the gold mineralization in the Northern zone, contained
several intervals of anomalous gold.
Holes RHB-13 with 22.9 meters (75ft) of 0.71 grams gold/T and RBH-14 with 16.7
meters (55ft) of 0.51 grams/T (together with several deeper historical holes
that they validated) have extended the strike length of the Central zone of the
Iceberg to 750 meters.
These results have established the Iceberg as a significant near-surface oxide
gold deposit in the Devonian carbonate horizon that hosts so much of the gold in
the large Carlin-type gold deposits of the Cortez Trend and elsewhere in Nevada,
one of the world's most prolific gold producing regions.
Reverse circulation drilling on the Red Hill Project was conducted by Boart
Longyear Company of Elko, NV under the direction and supervision of NuLegacy
Gold's COO, Dr. Roger Steininger (CPG 7417). All of the drill hole samples were
analyzed for gold by American Assay Labs. of Sparks, NV.
NuLegacy Gold Corporation is a Nevada based exploration company focused on
delineating the near-surface oxide Iceberg gold resource on its 60 square km Red
Hill option with Barrick Gold. The Iceberg deposit has similar geology to that
of Barrick Gold's on-going multi-million ounce Goldrush gold discovery.
On Behalf Of The Board Of Directors Of NuLegacy Gold Corporation
James E Anderson, Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this news release.
This news release contains forward-looking statements, which relate to future
events or future performance and reflect management's current expectations and
assumptions. Such forward-looking statements reflect management's current
beliefs and are based on assumptions made by and information currently available
to the Company. Readers are cautioned that these forward looking statements are
neither promises nor guarantees, and are subject to risks and uncertainties that
may cause future results to differ materially from those expected. There are no
known resources or reserves on the Iceberg deposit or the Red Hill project and
the proposed exploration programs are exploratory searches for commercial bodies
of ore. In addition, the presence of gold deposits on properties adjacent or in
close proximity to the Red Hill project is not necessarily indicative of the
gold mineralization on the Red Hill project. All of the forward-looking
statements made in this news release are qualified by these cautionary
statements and those in our continuous disclosure filings available on SEDAR at
www.sedar.com including our annual management's discussion and analysis dated
July 30, 2012 for the year ended March 31, 2012. These forward-looking
statements are made as of the date hereof and the Company does not assume any
obligation to update or revise them to reflect new events or circumstances save
as required under applicable securities legislation.
FOR FURTHER INFORMATION PLEASE CONTACT:
NuLegacy Gold Corporation
James Anderson
604-638-4959
james@nuggold.com
NuLegacy Gold Corporation
Albert Matter
604-638-4959
albert@nuggold.com
NuLegacy Gold Corporation
Roger Steininger
COO
604-638-4959
roger@nuggold.com
www.nulegacygold.com
Grafico Azioni Nulegacy Gold (TSXV:NUG)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Nulegacy Gold (TSXV:NUG)
Storico
Da Giu 2023 a Giu 2024
