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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

Post by Summerof69on Dec 30, 2023 8:47pm
232 Views
Post# 35805422

Why the rush on hole 2 assays?

Why the rush on hole 2 assays?

Just thinking out loud on possible reason for the rush on the hole 2 assays ...

1. they want to see if this hole is a discovery hole. If it is, then they do a raise at a higher price and start delineation drilling. 

or ...

2. the hole comes back as a duster. If a duster, then they have a decision to make. More dilution at current price but doubtful this will happen. Or leave the current share structure in place and JV the property to a nearby junior.


They want to know which avenue to go ASAP in the new year so if they have a discovery, the March onward with 100% ownership or if a duster, the jv partner can hit the ground running with the remaining three holes and/or do up an entirely new drill program.

Just wild speculation on my part trying to explain the reason for the sudden urgency to fast track the hole 2 assays.

Do your own due diligence first. Don't listen to me though. I am a novice investor.
 

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