Core Drilling Commences in Rift Anticline
April 13 2021 - 6:30AM
NuLegacy Gold Corporation reports ‘core’ drilling has commenced in
the ~6 sq. km Rift Anticline zone of its flagship 108 sq. km Red
Hill exploration property in Nevada’s Cortez gold-trend. To view
this news release with its graphics displayed please link to:
https://nulegacygold.com/news/news-releases/core-drilling-commences-in-rift-anticline/
The spring-summer 2021 Rift Anticline
exploration program includes drilling of 12 holes (the first six of
which are shown in the linked map1) with some of these as follow up
holes to the four holes drilled in the winter 2020 portion of the
program and others as widely spaced step-outs to bring the total
maiden exploration test of the Rift Anticline to 16 holes.
Each hole will consist of a ~one thousand foot
cased ‘pre-collar’ drilled through the upper volcanics (basalts and
gravel) by a ‘reverse circulation’ drill rig (collecting RC chip
samples); the cased2 pre-collar hole will subsequently be reentered
by a diamond core rig drilling the ‘core-tail’ through the
limestones to the targeted depth. With total depths of twenty-five
hundred to four thousand feet, it is anticipated the core portions
of these holes will take three to five weeks to complete.
Road and pad construction have been virtually
completed by Legarza’s two crews in the face of wet spring snow
conditions. Five of the ~1,000-foot pre-collar holes have been
completed to date by Envirotech’s double-shifted Atlas Copco RD10
reverse circulation drill rig (red stars on drill map).
The first of the three Longyear LF-230 core rigs
and crew supplied by Major Drilling has commenced drilling the
core-tail of RA21-01 as depicted in the linked drilling map at
https://nulegacygold.com/site/assets/files/6844/map_nr_04_2021.png.
It is anticipated the remaining two rigs will arrive during the
next two weeks as mobilization and traffic allows and take up
station on RA21-02 and 03:
- RA21-01 is a step out to the
encouraging3 assay results in hole RA20-04; it is targeting the
gold-bearing Wenban5 and Roberts Mountains formations (identified
in -04) at about 160 meters north and about 160 meters east of the
initial interception.
https://nulegacygold.com/site/assets/files/6844/map_nr_04_2021.png
- RA21-02 will be a significant
450-meter step-out to the east of RA20-02 and will be drilled
deeper so as to also test for the Roberts Mountains formation as
identified in RA20-03 and 04.
- RA21-03 will be drilled ~four
kilometers to the south of RA20-04 as an initial test of the
southern portion of the Rift Anticline.
NuLegacy has enrolled three additional
geologists and geo-technicians to assist in processing all the
core, cuttings, and material/data from this drilling.
As reported in NuLegacy’s news release of
February 18, 2021 the Rift Anticline has both decalcified and
silicified formations within the Wenban5 and Roberts Mountains
horizons which are favorable gold-bearing hosts in Carlin gold
systems.
NuLegacy believes the Rift Anticline Target
potentially hosts a high-grade Carlin deposit like the nearby
Goldrush, Cortez Hills or Pipeline deposits just to the north-east
and this 16-hole deep drilling program is aimed at making such a
discovery.I
On trend: NuLegacy Gold is
focused on confirming high-grade Carlin-style gold deposits within
the ~ 6 sq. km Rift Anticline target in the northwest corner of its
flagship 108 sq. km (42 sq. mile) district scale Red Hill Property
in the Cortez gold trend of Nevada. The Rift Anticline target is
located on trend and adjacentI to the three, multi-million ounce
Carlin-type gold deposits (the Pipeline, Cortez Hills and Goldrush
deposits) which are ranked amongst the world’s thirty largest,
lowest cost and politically safest gold mines and are three of
Nevada Gold Mines’ most profitable mines.II
I The similarity and proximity
of these deposits in the Cortez Trend including Goldrush are 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.
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.
On Behalf of the Board of NuLegacy Gold
Corporation,
Albert MatterChief Executive Officer &
Founding DirectorTel: +1 (604) 639 - 3640Email:
albert@nuggold.com
For more information about NuLegacy visit:
www.nulegacygold.com or www.sedar.com.
Cautionary Statement on Forward-Looking
Information: This news release contains forward-looking
information and statements under applicable securities laws, which
information and/or statements relate to future events or future
performance (including, but not limited to, the prospective nature
of the Rift Anticline target and the potential existence of a
large, high grade Carlin style gold deposit thereon, the proposed
exploration and drilling program for the Rift Anticline target
including the initial drill sites and targets and the timing and
costs thereof) and reflect management’s current expectations and
beliefs based on assumptions made by and information currently
available to the Company. Readers are cautioned that such
forward-looking information and statements are neither promises nor
guarantees, and are subject to risks and uncertainties that may
cause future results to differ materially from those expected
including, but not limited to, actual results of exploration
activities, unanticipated geological, stratigraphic and structural
formations, environmental risks, operating risks, accidents, labor
issues, delays in obtaining governmental approvals and permits, the
availability of financing, market conditions, future prices for
gold, changes in personnel and other risks in the mining industry.
There are no known resources or reserves in the Red Hill Property,
any proposed exploration programs are exploratory searches for
commercial bodies of ore and the presence of gold resources on
properties adjacent or near the Red Hill Property including
Goldrush is not necessarily indicative of the gold mineralization
on the Red Hill Property. There is also uncertainty about the
spread of COVID-19 and variants of concern and the impact they will
have on the Company’s operations, personnel, supply chains, ability
to access properties or procure exploration equipment, contractors
and other personnel on a timely basis or at all and economic
activity in general. All the forward-looking information and
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. The forward-looking
information and statements in this news release 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 by applicable law. Accordingly, readers should not
place undue reliance on forward-looking information and
statements.
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 release.
1 These six are firmly targeted; the siting of the next six may
be influenced by the results from the first six. 2 To prevent loose
basalts and gravel from ‘plugging’ up the holes making it easier to
re-enter with the diamond
drill.3 https://nulegacygold.com/news/news-releases/significant-gold-mineralization-in-nulegacys-rift-anticline-target/
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