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NuLegacy Gold Corporation: Major Gold Fund Acquires Equity Position

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NuLegacy Gold Corporation: Major Gold Fund Acquires Equity Position

 

 

 

 

 

NuLegacy Gold Corporation (TSX-V:NUG) (OTCQX:NULGF) reports that on April 19, 2016 the Tocqueville Gold Fund acquired 19.5 million shares of NuLegacy Gold at C$.20/share through an open market transaction.

 

 

The long established and renowned gold fund co-managed by John Hathaway and Doug Groh is part of the Tocqueville Private Wealth Management group of funds established to serve the long- term investment needs of high net worth families and individuals. The New York-based Tocqueville is an employee-owned group of professionals who base their decisions on their own rigorous, in-depth research and thorough knowledge of every investment position in each portfolio with emphasis on undervalued and out-of-favor assets.

 

 

Global Resources Investment Trust PLC  a British resource investment trust, which supported NuLegacy during the worst of the bear market, was pleased to be able to liquidate part of its resource investment portfolio profitably.

 

 

About NuLegacy:

 

– NuLegacy is an advanced stage exploration company focused on developing its district-scale Carlin- type oxidized Iceberg gold deposit located on 38 sq. mile (98 sq. km) portion of the Cortez trend.

– The Iceberg gold deposit has an established exploration targeti of 90 to 110 million tonnes grading between 0.90 grams and 1.10 grams of gold/tonne.

– It is on trend and adjacentii to three of Barrick`s multi-million ounce Carlin-type gold systems that are amongst Barrick’s lowest cost and politically safest depositsiii.

i These figures are conceptual in nature and derived from a compilation of 149 historic and 34 NuLegacy drill holes in and around the Iceberg deposit. To date, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
ii The similarity and close proximity of these deposits in the Cortez Trend to the Iceberg deposit is not necessarily indicative of the gold mineralization in the Iceberg deposit.
iii As extracted from Barrick’s Q4-2013 and Q1-2014 reports.

 

Posted April 26, 2016

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