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NuLegacy Provides Guidance on 2016 Exploration & Corporate Plans
RENO, NEVADA--(Marketwired - March 15, 2016) - NuLegacy Gold Corporation (TSX VENTURE:NUL)(OTCQX:NULGF) reviews 2015 progress and provides guidance on its 2016
About this update from Nulegacy Gold Corporation
[{"type":"text","content":"RENO, NEVADA--(Marketwired - March 15, 2016) - NuLegacy Gold Corporation (TSX VENTURE:NUL)(OTCQX:NULGF) reviews 2015 progress and provides guidance on its 2016 exploration and corporate objectives. 2015-16 Progress: Jan 20, 2015 - American Assay Labs confirms Iceberg gold deposits demonstrate high average leaching recoveries of 74.5% (within a range of 64.4% to 89.2%) in industry standard preliminary leach test. Jan 27, 2015 - NuLegacy reports first sniff of high-grade gold mineralization (assay of 12.7 grams/t. over 1.5 meters) from the last of 2014 drilling. As it turned out there were quite a number of high grade intercepts drilled and reported during the balance of 2015 (such as 25.2 grams/t over 4.6 metres within 41.2 meters of 3.9 grams/t. - see news release of May 7, 2015) as the new 'North zone' in the Iceberg developed and expanded. Feb 18, 2015 - NuLegacy receives BLM approval for Plan of Operations; the significance being that we are now permitted and bonded to significantly expand drilling within an area of up to 100 acres (at any one time) within a designated 1760 acres, the approximately 3 sq. miles or 7 sq. km covering the Iceberg deposit and surrounds. This allows for a multi-drill rig exploration program, whereas drilling of NuLegacy's initial 70 holes into the Iceberg was under a Notice of Intent limiting maximum disturbance to 5 acres at any one time. May 7, 2015 - Assays from first phase of 2015 multiphase drilling program confirm more high-grade gold mineralization in the North Zone - for example hole RHB-40 returned 10.9 grams/t. over 12.2 meters within a longer interval of 3.9 grams/t. over 41.2 meters. May 26 & Jun 3, 2015 - During what was likely the nadir of the last 5-year bear market in gold we announced a C$1.8 million dollar financing on May 26th and because of tremendous ongoing support from our long-patient shareholders, we closed it at C$2.2 million on June 3rd, 2015. Jun 11, Jul 23, Aug 26 & Sept 30, 2015 - NuLegacy continues to report long intervals of good to high grade assays expanding the new North zone while discovering new zones of mineralization in the Central and South zones. Oct 13, 2015 - NuLegacy completes US$5.0 million of direct exploration expenditures to earn 70% of the Iceberg gold deposit with Barrick Gold retaining a 30% minority working interest. Dec 23, 2015 - Barrick...