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NuLegacy Gold Drills 33.5 Meters of 0.65 g/t Gold at Red Hill Property
RENO, Nev., Sept. 13, 2017 (GLOBE NEWSWIRE) -- NuLegacy Gold Corporation reports that it has discovered another important gold zone on its 38-square mile (98-sq
About this update from Nulegacy Gold Corporation
[{"type":"text","content":"RENO, Nev., Sept. 13, 2017 (GLOBE NEWSWIRE) -- NuLegacy Gold Corporation reports that it has discovered another important gold zone on its 38-square mile (98-square km) flagship Red Hill property in Nevada’s Cortez gold-trend, one of the world’s premier gold mining jurisdictions. Hole VIO17-01, drilled into the “VIO” zone, which is over four kilometers east of the Iceberg gold deposits, returned: 33.5 meters (110 feet) of 0.65 grams/t gold and 5.5 grams/t silver starting at 99.2 meters and includes, 9.1 meters (30 feet) of 1.8 grams/t gold and 17.6 grams/t silver. “The gold encountered in this drill intercept appears to be epithermal-style of gold mineralization, an entirely different deposit type to that of our Carlin-style gold deposits. This is an exciting new development for building potential gold resources at Red Hill,” commented James Anderson, NuLegacy’s CEO. The VIO zone’s gold mineralization is hosted in mafic to intermediate volcanic flows interpreted to be of Miocene age with the characteristics and geochemistry typical of an epithermal gold system. This contrasts with the several Carlin-type gold systems discovered on the Red Hill property to date that host gold in Devonian carbonates. Important epithermal gold deposits exist within the Northern Nevada Rift, which crosses the Cortez trend through NuLegacy’s Red Hill property. Examples of epithermal mines are the nearby past producing Buckhorn and Mule Canyon gold mines and the currently producing high-grade Fire Creek and Midas gold and silver minesii. “This new discovery at VIO is almost four kilometers from Iceberg’s North zone and is in the western margin of the Northern Nevada Rift as it transects the Red Hill property,” said Garrett Frey, NuLegacy Senior Geologist. “The Red Hill is uniquely positioned at the intersection of the Cortez-trend and the Northern Nevada Rift, two of Nevada’s richest gold trends. While we’ve primarily focused on the Red Hill’s Carlin-type gold prospects we were cognisant of the possibility of higher-grade epithermal gold mineralization like the nearby Fire Creek and Mule Canyon mines. The discovery at VIO moves this beyond the concept phase.” The VIO drilling was targeted via the completion of a 6-line kilometer CSAMT survey in the heart of the VIO prospect. To compliment this work, 332 soil and rock chip sampl...