Business
NuLegacy Gold Corporation Provides Guidance on Fall Exploration Program
RENO, Nev., Oct. 11, 2017 (GLOBE NEWSWIRE) -- NuLegacy Gold Corporation provides guidance for its fall 2017 exploration program and reviews the successes of its
About this update from Nulegacy Gold Corporation
[{"type":"text","content":"RENO, Nev., Oct. 11, 2017 (GLOBE NEWSWIRE) -- NuLegacy Gold Corporation provides guidance for its fall 2017 exploration program and reviews the successes of its summer program. Guidance on fall program: Drilling has commenced on a fourteen-hole 16,000 feet reverse circulation and core drilling program following up on the recent successes of our thirty-hole (~27,000 ft.) summer program. “The application of our ‘old school/new school’ science by our much-expanded exploration team has been a resounding success,” said James Anderson, NuLegacy’s CEO. “We added the new Serena and VIO discoveries and confirmed the Avocado, Western Slope, Deep Iceberg and Jasperoid Basin prospects in addition to our original complement of the North, South and Central Iceberg gold deposits. We now have over ten square kilometers of gold mineralization in the central mineralized zone of the Red Hill property”. Review of summer 2017 program: The summer drilling program, which was predominantly a high-risk wildcat program, resulted in the discovery (or confirmation) of several important new exploration targets reviewed below. Serena zone: This new zone was discovered by the very first hole drilled into it; Hole SR17-1 which returned 50.3 meters of 1.00 g/t gold within 85.4 meters of 0.64 g/t of gold (as reported July/25/2017) and has been confirmed by three step-out holes. Five holes are planned for drilling in the Serena zone in this fall’s program. The Serena discovery provides a significant expansion of the gold footprint of the ‘central mineralized zone’ of the Red Hill property, and substantiates that drilling near the intersections of north-northwest trending structures (i.e. Iceberg fault) and east-west trending structures (i.e. Long fault) adds new gold mineralization. This new zone could connect with the North Iceberg deposit as a subsequent hole, IN17-5, a 100-meter step-out from the North Iceberg zone towards the Serena zone, returned an even better interval of 2.85 g/t gold over 21.3 meters including 4.6 meters of 9.76 g/t gold (as reported Sept/6/2017). These cross-structures were primarily identified by geophysics such as CSAMT, gravity and magnetics surveys. This discovery confirms these are powerful tools for locating additional gold bearing structures on the Red Hill property and expands our ability to locate new zon...