3 and 4-gram/t gold kicks in Roberts Mountains Formation
NuLegacy Gold Corporation (TSX-V:NUG) is pleased to report on holes RA2020-03 and 04 from its Fall 2020/Spring 2021 drilling program. To view this news release with all graphics displayed please link to: https://nulegacygold.com/news/news-releases/significant-gold-mineralization-in-nulegacys-rift-anticline-target/
Hole RA20-04, the deepest hole (2,936 feet) completed in the Rift Anticline target to date, “has intersected significant gold mineralization within several intervals of altered Silurian-Devonian Roberts Mountains Formation,” commented Ed Cope, Director, Exploration.
Multiple anomalous gold intercepts occur within an approximately 420-foot (128 m) section of the Roberts Mountains Formation (SDrm). Mineralization within this zone is interpreted to be proximal to a high-grade Carlin-type gold system.
Summary and Highlights:
NuLegacy believes the Rift Anticline Target, part of its 100% controlled 108 sq. km Red Hill Gold Project, potentially hosts a high-grade Carlin deposit like the nearby Goldrush, Cortez Hills and Pipeline deposits owned by Nevada Gold Mines, and has undertaken an aggressive 16-hole deep drilling program aimed at making such a discovery.I
In a news release dated February 9, 2021, NuLegacy discussed the upcoming spring 2021 Rift Anticline exploration program including completion of the remaining 12 or 13 holes as step-outs from the winter 2020 drilling and/or widely spaced three to four-thousand-foot-deep drill holes to bring the total maiden test of the Rift Anticline to 16 or 17 holes, with drilling scheduled to start in the second half of March 2021.
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.
Please see our latest CEO’s Chat at: https://nulegacygold.com/news/ceos-chats/the-eye-of-the-needle/
Sampling Methodology, Chain of Custody, Quality Control and Quality Assurance:
All drilling and sampling was conducted under the supervision of the Company’s project geologists and the chain of custody from the project to the sample preparation facility were continuously monitored. A blank or certified reference material was inserted approximately every 10th sample. The samples were delivered to American Assay Lab or ALS laboratories’ independent preparation facility in Nevada. The samples were crushed, pulverized and sample pulps were analysed using industry standard fire assay methods. Data verification of the analytical results included a statistical analysis of the standards and blanks that must pass certain parameters for acceptance to ensure accurate and verifiable results. The reported intercepts are not necessarily true widths as there is insufficient data currently with respect to the shape of the mineralization to calculate its true orientation.
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