Appears NUG market realizes Roger retiring isn't the end.There's currently a strong bid for NULGF on OTCQX.com
Maybe they read the new Corporate Presentation, and were intrigued by the Avocado - Serena gap. Maybe they saw Barrick's 10 million oz. Gold Rush deposit almost fits into the gap. Maybe they saw 2018's drill targets.
Maybe some reread this release from last year. From what I can tell, this is being ignored for the moment. They think they have better drill prospects. It's just one example. Nice.
Thanks, Roger, well done:
RENO, NEVADA--(Marketwired - Jul 18, 2017) - NuLegacy Gold Corporation (TSX VENTURE:NUG)(NULGF) is pleased to report that it has discovered a new structural exploration target with the same geological characteristics as the Icebergi gold deposit.
This target, referred to as the Western Slope anomaly, lies approximately one kilometer west of the Iceberg gold deposit; it was initially identified using this year's extensive CSAMT (Controlled Source Audio-frequency Magneto-telluric) geophysical surveys*. It is interpreted to be similar in length and parallel to the Iceberg fault, the major northwest striking fault that controls the gold mineralization for the Iceberg gold deposit. Northwest striking faults are a key structural component of most major gold deposits in the Cortez-trend including the Goldrush, Cortez Hills, and Pipeline deposits. The Iceberg fault has gold mineralization identified over 3,000 meters of strike length and the Western Slope anomaly is interpreted to have similar size potential.
Location link: (https://nulegacygold.com/i/pdf/red-hill-aerial-view-g75em4.pdf)
The Western Slope fault, which is clearly defined by the CSAMT geophysics, is also coincident with subsequently identified Au-As-Sb (Gold, arsenic and antimony) soil geochemical anomalies. The combination of Carlin-type soil geochemical anomalies, northwest striking faulting, and large size potential makes the Western Slope anomaly a favorable target for exploration drilling.
"Carlin-type gold deposits occur in clusters and stacks…the Western Slope anomaly provides the very real possibility for another Iceberg gold deposit", commented Dr. Roger Steininger, NuLegacy's Chief Geoscience Officer.
Clusters link: (https://nulegacygold.com/i/pdf/ppt/2017-05-31/0006.jpg)
Stacks link: (https://nulegacygold.com/i/pdf/ppt/2017-05-31/0007.jpg)
The Western Slope is completely covered by post-mineral volcanic rocks and thus was blind to the surface. The buried nature of Western Slope anomaly means that a thicker section of the favorable host-rocks for gold mineralization are likely to be intact, whereas at Iceberg a portion of the favorable host-rocks were eroded from the footwall of the Iceberg fault.
The Western Slope anomaly has never been drilled; the closest drilling is in the western portion of the Iceberg gold deposit approximately 800 meters to the east, where drill hole RHB-110 intercepted 12.2m of 0.41 grams per tonne gold (news release dated November 30, 2016). Drilling of the Western Slope target is planned to follow further analysis of the geophysical and geochemical data, development of a 3D model and appropriate drill permits being obtained.
Wildcat drilling of numerous geophysical and/or geochemically generated targets throughout NuLegacy's 98-square km. Red Hill property continues. The company will release significant assay data as they are received. Drilling to further define and expand the gold content of the four zones of the Iceberg gold deposit will resume in the fall.
About NuLegacy Gold Corporation: NuLegacy is a Nevada exploration company focused on discovering additional Carlin-style gold deposits on its premier district scale 98-sq. km (35 sq. mile) Red Hill Project in the prolific Cortez gold trend of Nevada.
To date NuLegacy has discovered the Icebergi and the Avocado Carlin-style gold deposits and has identified four more highly prospective exploration targets to be drilled this year.
NuLegacy's Red Hill Project is located on trend and adjacentii to three multi-million ounce Carlin-type gold deposits (the Pipeline, Cortez Hills and Goldrush deposits) that are amongst Barrick Gold's largest, lowest cost and politically safest gold minesiii.
| i | An established exploration target of 90-110 million tonnes of 0.9 to 1.1 grams of gold per tonne. These figures are conceptual in nature and derived from a compilation of 149 historic and 111 NuLegacy drill holes. To date, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. |
| ii | The similarity and proximity of these deposits in the Cortez Trend is not necessarily indicative of the gold mineralization in NuLegacy's Red Hill Project. |
| iii | As extracted from Barrick's Q4-2013 and Q1-2014 reports. |
On Behalf Of NuLegacy Gold Corporation
James E Anderson, Chief Executive Officer
Dr. Roger Steininger, NuLegacy's Chief Geoscience Officer is a Certified Professional Geologist (CPG 7417) and the qualified person as defined by NI 43-101, Standards of Disclosure for Mineral Projects responsible for preparing and reviewing the scientific and technical information contained in this news release.