Not everyone gets what is happening. You are lucky enough.. ..lucky enough to witness the expansion of the number of mining deposits on the property, and to see it while the stock is near a 52 week low.
When you are paying the band, you get to pick the tunes. In this case, the band has been paid substantially by Barrick & Oceana, so they are mostly calling the tunes. Note the words district scale near the bottom. To be attractive to the largest miners, it takes more than iceberg.
They aren't done with iceberg, but they want to prove the existence of more deposits like the potential one in the Western Slope Anomaly. Strategically it makes sense to identify potential deposits now, which will do more to keep Barrick & Oceana interested, and attract potential investors. Please don't share this until you have backed up your truck.
Don't be surprised if in addition to drill results, we see an industry publication do a feature article explaining this to a bigger audience than here at Stockhouse.
Let's see, would I want to own shares ahead of this news or wait?
Here's what they have told us this year:
| Exploration acceleration: - Initial 40 holes (~35,000 ft.) to be expanded on discovery success.
- Drilling to determine size of Avocado and confirm newly identified Deep Iceberg anomaly.
- Drilling to expand gold content of the established near-surface Iceberg deposits.
- Drilling to explore VIO and Jasperoid Basin geophysical and chemical anomalies.
- Expanding geophysical and geochemical surveys to generate additional drill targets outside currently confirmed mineralized areas.
| Corporate endgame: - Establish multi-million ounce near-surface oxide gold resource within the 3-km long Iceberg deposit.
- Expand gold endowment of newly discovered Avocado gold deposit.
- Confirm additional Carlin-style gold deposits on NuLegacy's 98 sq. km district-scale property.
- Sell to / merge with a qualified producer.
| | Milestones: - Consolidated 98 sq. km in the Cortez trend -- which hosts one of the largest gold endowments in the world.
- Corporate governance team that includes three former senior Barrick Gold executives.
- World class shareholders including OceanaGold, Barrick Gold, Tocqueville Gold fund.
- Two confirmed Carlin-style gold deposits discovered to date; four more exploration targets.
- Three of NUG's geo-team were instrumental in discovery of three of Barrick Gold's best performing gold mines.
- ~40 hole drilling program underway; more geo-surveys to identify additional targets.
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