NULEGACY GOLD PROVIDES UPDATE ON PERMITTING PROGRAM- ~ Brief note on exploration program progress
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PRESS RELEASE
-NULEGACY GOLD PROVIDES UPDATE ON PERMITTING PROGRAM-
~ Brief note on exploration program progress ~
For Immediate Release June 16, 2020
VANCOUVER – NuLegacy Gold Corporation reports it is on schedule to submit the final
permitting documentation in July, with the expectation that approval will be received in
September to allow a 16-hole deep test drilling program to commence mid-to-end October
2020.
NuLegacy’s CEO Albert Matter comments that, “Enrolling Mr. Mark Bradley, a former
Senior Project/Chief Geologist for Barrick Gold who supervised the discovery and
delineation drilling of Barrick’s multi-million ounce Goldrush deposit, has been a real boon;
not only did he manage 200+ personnel in drilling the Goldrush, he was responsible for
overseeing the program’s permitting, and as such is well versed in regulatory requirements
and communicating with Federal and State agencies.”
And as NuLegacy Chairman Alex Davidson says, “There is no substitute for the experience
of having participated in discovering one or another of the giant Carlin-type deposits in
Nevada for assessing the next discovery; our team has collectively participated in five such
discoveries, and as such is uniquely qualified to find the fourth ‘elephant’ in the Cortez gold
trend”.
Permitting details: The US $500,000 expansion of our permitted Plan of Operations (POP)1
over the Red Hill property is on schedule for submission to the Bureau of Land Management
in July with acceptance anticipated in September; the submission will include:
• Cultural Resources Survey - no significant archaeological issues identified in the most favorable
drill-target areas on the Rift Anticline as illustrated in the linked video: Goldrush 2.0 (3:18)
• Biological Baseline Surveys:
o Raptor flights - two distinct helicopter surveys of the property and surrounding area with
no breeding pairs identified.
1 The expanded POP will cover a total of 8,500 acres (~13 sq. miles); the substantially larger disturbance
allowance will provide NuLegacy the necessary flexibility in planning and permitting literally hundreds of
drill sites for follow up to the successes of the 2020-21 Fall-Spring exploration program.
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o Habitat survey, community mapping, etc., - whole property survey of possible species
habitat (i.e. sage-grouse) completed in compliance with the requirements of the State
Sage-grouse Environmental Technical Team (SETT)
o Botanical surveys - near completion, no sensitive species identified
o Wildlife surveys - completed, no sensitive species activities identified
• Hydro field survey – A seep & spring survey is in progress to comply with the requirement of
providing a surface water-quality report for the area.
• Conservation Credit System SETT – SETT has determined the number of sage grouse habitat
debits generated by the proposed project expansion, and a corresponding number of CCS credits
are being acquired from a recognized credit generator.
With the acceptance of our US $500,000 expanded Plan of Operations over the Red Hill
property anticipated for September, we are planning to start a 16 hole drill program in mid-
October.
Exploration progress: As noted in our news release of June 1, 2020, exploration activity is
ongoing on the Red Hill property with an additional CSAMT (Controlled-Source Audio-
frequency Magnetotellurics) as well as Gravity survey underway to assist NuLegacy’s geo-
team in further defining the target stratigraphy.
Discussions are also underway to secure one RC rig and two core rigs to start drilling mid-
October. The deep test drilling is budgeted to cost US$ 250,000 per hole; you need deep
holes when you are hunting for Nevada’s elephant-sized gold deposits. Our analysis of the
~7.5 sq. km target area (the Rift Anticline ) suggests that a 14 to 16-hole pattern2 would be
able to find a deposit whether it’s of the size of the current three giants in the Cortez, (with
a likely footprint of ~ 1.5 sq. km.) or a more regular Nevada sized deposit (with a likely
footprint of ~ 0.3 sq.km).3
https://nulegacygold.com/site/assets/files/6527/0014.1200x0.jpg )
About NuLegacy Gold Corporation : Focused on confirming high -grade Carlin-style gold deposits on its
premier 108 sq. km (42 sq. mile) district scale Red Hill Property in the Cortez gold trend of Nevada. The Red
Hill Property is located on trend and adjacentI to the 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 minesII.
I The similarity and proximity of these deposits in the Cortez Trend including Goldrush is not necessarily
indicative of the gold mineralization in NuLegacy’s Red Hill Property.
II As extracted from Barrick’s Q4-2013 and Q1-2014 reports. As reported by Barrick, the Goldrush resource
contains 8,557,000 indicated ounces of gold within 25.78 million tonnes grading ~10.57 g/t and 1,650,000
inferred ounces within 5.6 million tonnes grading ~9.0 g/t.
Dr. Roger Steininger, a Director of NuLegacy, 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
approving the scientific and technical information contained in this news release.
2 There should be time enough for four to six holes in the fall (2020) before winter shut down with the
balance of the holes scheduled to start up in the late spring 2021.
3 The proximity of Red Hill to other gold deposits in the Cortez trend is not necessarily indicative of gold
mineralization at Red Hill.
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ON BEHALF OF THE BOARD OF NULEGACY GOLD CORPORATION
Albert J. Matter
Chief Executive Officer & Director
Tel: +1 (604) 639 - 3640
Email: [email protected]
For more information about NuLegacy visit: www.nulegacygold.com or www.sedar.com.
Cautionary Statement on Forward -Looking Information: This news release contains forward -looking
information and statements under applicable securities laws, which information and/or statements relate to
future events or future performance (including, but not limited to, the prospective nature of the Rift Anticline
target, the proposed exploration, drilling and permitting programs thereon and the timing, cost and
likelihood of success thereof) and reflect management’s current expectations and beliefs based on
assumptions made by and information currently available to the Company. Readers are cautioned that such
forward-looking information and statements are neither promises nor guarantees, and are subject to risks
and uncertainties that may cause fut ure results to differ materially from those expected including, but not
limited to, actual results of exploration activities, unanticipated geological, stratigraphic and structural
formations, environmental risks, operating risks, accidents, labor issues, delays in obtaining governmental
approvals and permits, the availability of financing, market conditions, future prices for gold, changes in
personnel and other risks in the mining industry. There are no known resources or reserves in the Red Hill
Property, any proposed exploration programs are exploratory searches for commercial bodies of ore and
the presence of gold resources on properties adjacent or near the Red Hill Property including Goldrush is
not necessarily indicative of the gold mineralization on the Red Hill Property. T here is also uncertainty
about the spread of COVID-19 and the impact it will have on the Company’s operations, personnel, supply
chains, ability to procure exploration equipment, contractors and other personnel on a timely basis or at all
and economic activity in general. All the forward -looking information and statements made in this news
release are qualified by these cautionary statements and those in our continuous disclosure filings available
on SEDAR at www.sedar.com. The forward-looking information and statements in this news release are made
as of the date hereof and the Company does not assume any obligation to update or revise them to reflect
new events or circumstances save as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.