The assay results for MR23-01 (drilled
Weather conditions in
As reported
About
Exploration: NuLegacy is focused on exploring for high-grade Carlin-style gold deposits on its premier 108 sq. km (42 sq. mile) district scale Red Hill property.
The Red Hill is on trend/adjacentI to three of Nevada Gold Mines’ most profitable multi-million ounce
Seven of NuLegacy’s principals/exploration team members have contributed to/participated in the discovery/expansion of one or more of all seven of Nevada’s massive Carlin-style gold deposits.
Other activities: With the ‘on-going’ recovery in the price of gold to circa US
- Establishing the viability of mining-shipping the mineralized material in the Iceberg corridor (North, Serena, and Central zones).
- Engaging with potential joint venture partners to assist NuLegacy in making that viability determination and financing a positive decision.
- Establishing a paying royalty portfolio to, at a minimum, cover the annual ongoing cost (~ US
$425,000 ) of maintaining NuLegacy’s ownership/control of the prized Red Hill property. - And, mindful that we have, in our opinion, the best
Carlin -exploration team,- Promoting the Red Hill to companies with the requisite engineering, construction, and production management to develop any future discovery at Red Hill.
- Engaging with neighboring landowners to review potential synergies/opportunities.
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 Currently structured as an underground mine Goldrush contains P&P: 7.8 M oz @ 7.29 g/t; M&I: 8.5 M oz @ 7.07 g/t (inclusive of P&P); and Inferred: 4.5 M oz @ 6.0 g/t (as of
III There are no known mineral resources or reserves on the Red Hill Property and the current drill program is an exploratory search for ore.
On Behalf Of
Tel: +1 (604) 639-3640; Email: albert@nuggold.com
For more information about NuLegacy visit: www.nulegacygold.com or www.sedarplus.ca
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in
Dr.
Cautionary Statement on Forward-Looking Information: This news release contains forward-looking information and statements under applicable securities laws (including, but not limited to, the timing of receipt and release of pending assay results, estimated date for resumption of current drill program, future financing plans and the Company’s proposed corporate activities and areas of focus), which information and/or statements relate to future events or future performance 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, market conditions, availability of financing, actual results of exploration activities and drilling, unanticipated geological, stratigraphic and structural formations, misinterpretation or incorrect analysis of projected geological structures, alterations and mineralization, environmental risks, operating risks, adverse weather conditions, accidents, labor issues, delays in obtaining governmental approvals and permits, inability to secure drilling equipment and/or contractors on a timely basis or at all, delays in receipt of assay results from third party laboratories, inflation, future prices for gold, changes in personnel and other risks in the mining industry. There are no assurances that the net proceeds from the Company’s recently completed financing will be sufficient to complete the Company’s proposed 2023 fall/winter drill program in its entirety. Furthermore, there are no known mineral resources or reserves on the Red Hill Property, the proposed drill program is an exploratory search for ore and the presence of gold resources on properties adjacent or near the Red Hill Property including the Goldrush deposit is not necessarily indicative of the gold mineralization on the Red Hill Property. There is also uncertainty about the continued spread and severity of COVID-19, the ongoing wars in
Neither the
Source:
2023 GlobeNewswire, Inc., source