NUG-V under accumulation.
NuLegacy Gold has appointed Alex Davidson as corporate adviser to NuLegacy.Mr. Davidson is a recognized leader in designing, implementing and managing highly successful, and strategic gold and base metal exploration and acquisition programs throughout the world.
Until 2009, he was the executive vice-president of exploration and corporate development of Barrick Gold Corp., with responsibility for all its international exploration programs and corporate development activities. During his tenure he was instrumental in the acquisition of the Cortez gold complex in Nevada (from Placer Dome Inc.), and the discovery of the Lagunas Norte deposit in Peru, two of Barrick's five key mines.
In 2003, Mr. Davidson was named the prospector of the year by the Prospectors and Developers Association of Canada, in recognition for his team's discovery of the Lagunas Norte mine in the Alto Chicama district, Peru. In 2005 Mr. Davidson was presented that year's A.O. Dufresne award by the Canadian Institute of Mining, Metallurgy and Petroleum, in recognition of his exceptional achievements, and distinguished contributions to mining exploration in Canada and around the world. He received his BSc and his MSc in economic geology from McGill University.
"We are fortunate to have Mr. Davidson's influence and expertise to assist us in capitalizing on the value of NuLegacy's highly prospective Iceberg gold deposit," says James Anderson, NuLegacy's chief executive officer. "With Mr. Davidson's participation we expect to be able to accelerate the delineation of the Iceberg gold deposit and the exploration of the three additional highly prospective targets we have identified."
The 60-square-kilometre property which hosts the Iceberg gold discovery is in the heart of the Cortez trend directly adjacent to Barrick Gold's multimillion-ounce Goldrush discovery. It is on strike with the three Carlin-type gold deposits that comprise Barrick's Cortez mining complex, which are amongst the largest and lowest cost gold deposits in the world. With a combined gold endowment in excess of 50 million ounces, the Cortez produces approximately 1.5 million ounces per year for Barrick at a remarkable low AISC (all inclusive sustaining cost) of $376 per ounce (versus firm average of $919 per ounce). |
