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NuLegacy Gold Corp V.NUG

Alternate Symbol(s):  NULGF

NuLegacy Gold Corporation is a Canada-based exploration company focused on exploring for high-grade Carlin-style gold deposits on its premier 108 sq. km (42 sq. mile) district scale Red Hill property. The Red Hill is on trend/adjacent to three of Nevada Gold Mines' Carlin-type gold mines; the Pipeline, Cortez, and GoldrushII. Its Red Hill Property is located in the Cortez Gold Trend of north-central Nevada, United States (US). The Red Hill Property encompasses a total of 1,363 unpatented lode mining claims covering approximately 108 square kilometers (km2), of which 881 mining claims totaling approximately 68 km2 are owned, subject to certain underlying royalties, 100% by NuLegacy Gold Corporation and 482 claims comprising approximately 40 km2 are 100% controlled by NuLegacy pursuant to the Idaho Lease. Its Rift Anticline drill target (approximately 10 km2 within the 108 sq. km Red Hill property) has favorable Carlin-type gold system geology located within Nevada's Cortez gold complex.


TSXV:NUG - Post by User

Bullboard Posts
Post by BillSmith9on May 06, 2017 1:16pm
246 Views
Post# 26212485

OK, I'll take the bait.

OK, I'll take the bait.Two things that drive this stock: News, and the price of gold.

The 2017 drilling clock started April 25th.

In 2016, Drilling started May 19, and first results were July 21, then Sept. 7, 13, & 20.

In 2015, Drilling commenced March 31, and 1st results were May 7, then June 11.

In 2014 drills started May 8th.  Results were out on July 8, then July 22.

So results took about 60 days in 2014 and 2016, and around 5 weeks in 2015.

Be ready to wait.  Much of this year's drilling will not be near surface like previous years.  Drill times will extend, assay times not so much.  Drilling in Avocado, VIO, and Jasperoid is not advanced. Hitting a rich vein there, this year would be somewhat of a fluke. Near surface Iceberg has more history, followed by deep Iceberg.

From their release:
"The initial 2017 exploration program will focus on:
  1. Expanding the extent of the gold mineralization in the Avocado deposit,
  2. Drilling the Deep Iceberg IP anomaly to confirm it as the third gold deposit identified to date,
  3. Exploring the VIO and Jasperoid Basin anomalies to establish their prospectivity as deposits, as well as,
  4. Expanding the gold content of the established near-surface oxide Iceberg gold deposit, an exploration target of 90 -110 million tonnes of 0.9 to 1.1 grams of gold per tonne (conceptual numbers.)i
Of the initial 35,000 ft. planned, 65% will consist of deeper drilling to explore for additional deposits and 35% will concentrate on expanding the gold footprint of the near-surface Iceberg deposit. Further geophysical and geochemical surveys are contracted for follow up on the success of last year's surveys in generating additional drill targets outside of the five currently confirmed mineralized areas."
Bullboard Posts