NuLegacy Gold (NUG-V) drills 41.2 m of 1.02 g/t Au at Red Hill - Message 28901867
"Barrick’s Cortez Trend properties are the jewel of the operation with significant lower cash costs."
June 26, 2013 - News Release
NuLegacy Gold Corp. has released the results of the recently completed five-hole reverse circulation drilling program on its flagship Red Hill project. The 60-square-kilometre Red Hill project is in the Cortez trend of Nevada directly adjacent to Barrick Gold Corp.'s multimillion-ounce Goldrush discovery. "We are very pleased with these drill results," says Dr. Roger Steininger, NuLegacy's chief operating officer, "as we continue to intersect good grades of oxide gold in near-surface Devonian carbonates, which is the material that hosts so much of the gold in the large Carlin-type gold deposits of the Cortez trend. We have discovered a new Northern zone of at least 350 metres of strike length with higher-grade oxide gold mineralization (6.1 metres of 5.62 grams of gold), and extended the Central zone of the Iceberg deposit to 750 metres (from 400 metres) of strike length."
These carbonate zones lie beneath a thin veneer of gold-bearing volcanics that was the focus of much of the historical drilling on the Red Hill project, and stretches for four kilometres above the Iceberg gold deposit. The two zones are 200 to 250 metres wide, 25 to 70 metres thick with gold grades of 0.5 gram per tonne to greater than five grams per tonne. They have a combined overall strike length in excess of 1,100 metres, separated by an as-yet untested intervening gap of approximately 900 metres where no historical holes were drilled deep enough to penetrate to the carbonates. Plans are being made to drill to the north and south and in the intervening gap of these two zones.
Iceberg gold deposit extended
Four of the five holes were targeted to extend the strike length of the Iceberg deposit. As summarized in the table three of those four holes returned favourable gold grades and intervals. The fifth hole, RHB-15, which was drilled 800 metres to the east of the Central zone to test for a possible parallel system, had no significant gold values.
The best result came from hole RBH-17 with a significant near-surface intercept of 41.2 metres (135 feet) of 1.02 grams per tonne. It included 6.1 metres of 5.62 grams per tonne of gold (20 feet of 0.18 ounce gold per ton) indicating that the system is capable of generating very favourable oxide gold grades.
DRILLING RESULTS
Hole No. From To Length From To Length Grade (ft) (ft) (ft) (m) (m) (m) g/t Au
RHB-17 235 370 135 71.6 112.8 41.2 1.02including 300 320 20 91.4 97.5 6.1 5.
62RHB-14 345 400 55 105.2 121.9 16.7 0.51including 375 390 15 114.3 118.9 4.6 1.
12RHB-13 355 430 75 108.2 131.1 22.9 0.71including 365 395 30 111.3 120.4 9.1 1.13
Note: These intercepts are not necessarily true widths as there are insufficient data at this time with respect to the shape of mineralization to calculate its true orientation.
The geometry of the new Northern zone (350-metre length) is supported by several historical holes that were drilled deep enough to intercept the underlying Devonian carbonates, particularly hole RH92-2 with 24.4 metres of 3.4 grams of gold per tonne (80 feet of 0.11 ounce gold per ton). Hole RBH-16, drilled to test for a possible westerly extension of the gold mineralization in the Northern zone, contained several intervals of anomalous gold.
Holes RHB-13 with 22.9 metres (75 feet) of 0.71 gram gold per tonne and RBH-14 with 16.7 metres (55 feet) of 0.51 gram per tonne (together with several deeper historical holes that they validated) have extended the strike length of the Central zone of the Iceberg to 750 metres. These results have established the Iceberg as a significant near-surface oxide gold deposit in the Devonian carbonate horizon that hosts so much of the gold in the large Carlin-type gold deposits of the Cortez trend and elsewhere in Nevada, one of the world's most prolific gold-producing regions. Reverse circulation drilling on the Red Hill project was conducted by Boart Longyear Company of Elko, Nev., under the direction and supervision of Dr. Roger Steininger, CPG 7417. All of the drill hole samples were analyzed for gold by American Assay Labs of Sparks, Nev.
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