NuLegacy Gold (NUG-V) starts RC drilling at Red Hill - Flagship property
www.nulegacygold.com
$1 million cash (as of Dec 31, 2013)
May 14, 2013 - News Release
NuLegacy Gold Corp. has commenced a reverse circulation drilling program on its flagship Red Hill project.
The $250,000 program is designed to expand the company's Iceberg gold deposit. It is planned in two phases of five to six holes each, to allow for receipt and interpretation of the assays from the first set of holes to guide the selection of sites for the second set.
The drilling is intended to provide a preliminary assessment of how far north and south the Iceberg gold deposit extends, as well as testing a possible parallel system to the east. An initial test of the deeper Avocado IP geophysical anomaly (a very large and likely carbonaceous/pyritic anomaly that may contain gold mineralization) at the northern extension of the Iceberg is planned for the fall.
Fieldwork will continue to develop additional drill targets in the adjacent Jasperiod basin (1,800 metres northeast of Iceberg) and at the western end of the project in the VIO zone (4,000 metres west of Iceberg) where rock chip sampling and mapping have defined another area of intensely altered carbonates that contain anomalous gold.
Reverse circulation drilling is being conducted by Boart Longyear of Elko, Nev., under the direction and supervision of NuLegacy Gold's chief operating officer, Dr. Roger Steininger, CPG 7417. All of the drill hole samples will be analyzed by American Assay Labs, of Sparks, Nev.
We seek Safe Harbor.
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NuLegacy Gold 10,284,250-share private placement
May 17th, 2013 - News Release
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced April 10, 2013.
Number of shares: 10,284,250 shares
Purchase price: 10 cents per share
Warrants: 10,284,250 share purchase warrants to purchase 10,284,250 shares
Warrant exercise price: 15 cents for a one-year period and 20 cents in the second year
Number of placees: 28 placees
Insiders: James E. Anderson, 150,000; Albert J. Matter, 150,000; Steininger Living Trust (Roger C. Steininger), 100,000; Gregory T. Chu A Law Corporation, 100,000; 0820659 BC Ltd. (Michael Waldkirch), 105,000
Total pro group involvement: 50,000 (one placee)
Finders' fees: $1,400 plus 14,000 agents options is payable to Leede Financial Markets Inc.; $350 plus 3,500 agents options is payable to Mackie Research Capital Corp.
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