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NuLegacy Gold Commences Phase 1 Summer-Fall 2022 Drilling on Flagship Red Hill Exploration Property
RENO, Nev., Aug. 16, 2022 (GLOBE NEWSWIRE) -- NuLegacy Gold Corporation has commenced Phase 1 of its summer-fall 2022 drilling program on its 100% controlled 10
About this update from Nulegacy Gold Corporation
[{"type":"text","content":" RENO, Nev., Aug. 16, 2022 (GLOBE NEWSWIRE) -- NuLegacy Gold Corporation has commenced Phase 1 of its summer-fall 2022 drilling program on its 100% controlled 108 sq. km. flagship Red Hill exploration property located in the prolific Cortez gold trend of north-central Nevada, directly adjacent to, and on trend with, three of Barrick Gold’s six top Tier 1 mines.I View this news release with all graphics displayed at: Click Here Initially we will drill 6 reverse circulation (RC) holes varying in depth from 1,400 to 2,000 feet (Phase 1), and pause for assays and analysis to guide the choice of the next holes and conserve cash during the current hiatus in the precious metals financing market. Phase One: Six RC holes (totaling ~10,400 feet of RC drilling) with one in the Mid Rift and five in the Serena Extension program. The Phase 1 Serena Extension drilling (holes SR22-01 to 05 below) is designed to ‘fill in’ several 100-meter ‘gaps’ in the Serena-North zone and particularly, the western most of these five holes will determine if the highest grade drill hole intercept on the property to date (16.9 grams gold/ton over 8.7 meters - Serena 18-02 - see news release dated Aug 27, 2018) has continuity to the west along the Long fault, and test for a deeper gold zone along the Long fault in the anticipated Roberts Mountains Formation around 425-meter depth. The Mid Rift target (hole MR22-01 below) is within an apparent narrow uplifted corridor of Paleozoic rocks defined by CSAMT geophysics. It correlates directly with a 150-meter-wide zone of north-northwest trending, steep dipping faults that is parallel to the Iceberg fault and anticipated to be a steep feeder fault for gold mineralization. This fault should intersect the low-angle west dipping gold-controlling Central Mineralized Zone (CMZ) fault that mineralized the Iceberg corridor and several other similar related faults at depth. The existing Iceberg (to the east) and Rift drilling (to the west) to date suggests moderate to thick sequences of the favorable Wenban Unit 5 and Roberts Mountains host rocks will be present along this target zone. Phase One drill hole locations NuLegacy Gold is focused on confirming potential high-grade Carlin-style gold deposits within its flagship 108 sq. km (42 sq. mile) district scale Red Hill Property in the Cortez gold trend of Nevada. The tar...