NULEGACY RECEIVES ASSAYS FOR FIRST THREE HOLES OF 2021 DRILLING PROGRAM – ~ Assays for a further five holes and all multi- element geochemical analys es pending
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- NULEGACY RECEIVES ASSAYS FOR FIRST THREE HOLES
OF 2021 DRILLING PROGRAM –
~ Assays for a further five holes and all multi- element geochemical analys es pending ~
For Immediate Release August 26, 2021
Reno, NV – NuLegacy Gold Corporation has received assays from the first three of eight holes
completed in its 2021 diamond drilling campaign. Drilling is focused on the northwest quadrant
of the ~ 10 sq. km Rift Anticline target, part of NuLegacy’s 100% controlled 108 sq. km Red Hill
exploration property in Nevada’s Cortez gold- trend. To view this news release with its graphics
displayed please link to:
https://nulegacygold.com/news/news-releases/nulegacy-receives-assays-for-first-three-holes-of-
2021-drilling-program/
Summary of Drilling to Date:
• Eight widely spaced (0.5 to +1 km) holes have been completed (RA21-01 through -04, -06, -
08, -10 and -13) with the core tail of a ninth hole (RA21-05) underway.
• Assays have been received for RA21-01, -02 and -03. Intervals of anomalous gold values are
summarized below:
o RA21-01:
335.3-547.1 (211.8) meters, numerous intervals reporting between 10-50 ppb Au
o RA21-02:
211.8-413.3 (201.5) meters, numerous intervals reporting between 10-50 ppb Au
685.8-880.0 (194.2) meters, numerous intervals reporting between 10-60 ppb Au
950.2-1100.9 (150.7) meters, numerous intervals reporting between 10-410 ppb
Au
o RA21-03:
236.2-551.7 (315.5) meters: numerous intervals reporting between 10-130 ppb Au
1133.9-1175.8 (41.9 at end of hole) meters: numerous intervals run between 10-90
ppb Au
• Although no economic gold grades were encountered in these three holes, very long intervals
of anomalous gold indicate the presence of a large hydrothermal system within the target area.
Alteration typical of Carlin type gold systems is present in conjunction with these anomalous
gold intervals.
• To date, anomalous gold values have been encountered in the Wenban, Roberts Mountains
and Hanson Creek formations, all of which are host rocks to multiple large gold deposits in
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the region. Thick sections of these prospective hosts rocks have been encountered in each of
the first three 2021 drill holes.
• Holes RA21-01, 02 and 03 are the deepest holes drilled to date in the Rift Anticline at 958.1,
1211.3 and 1175.8 m, respectively.
• Holes RA21-04, -06 and -08 have been logged, split, and submitted for assaying. Holes RA21-
10 and -13 are in the process of being logged and split for submission.
(https://nulegacygold.com/site/assets/files/6908/aug_26_2021_drillmap.jpg)
Summary: As detailed in our news release dated April 27, 2021, these compelling geochemical
trends point towards a very large Carlin -style mineralized gold system within the Rift Anticline
target.
Due to slow assay turn around, NuLegacy plans to pause its drill program after completion of hole
RA21-05, currently in progress, so that gold assays and the multi-element analytic results can be
returned and reviewed. Further drilling will be guided by modeling of the vectors generated by
these results.
Sampling Methodology, Chain of Custody, Quality Control and Quality Assurance: All sampling was
conducted under the supervision of the Company’s project geologists and the chain of custody from the
project to the sample preparation facility, American Assay Labs in Sparks, NV, was continuously
monitored. The samples were crushed, pulverized and sample pulps were analysed using industry standard fire
assay methods. A blank or certified reference material was inserted approximately every 20th sample. Data
verification of the analytical results included a statistical analysis of the standards and blanks that must pass
certain parameters for acceptance to ensure accurate and verifiable results.
On trend: NuLegacy Gold is focused on confirming high -grade Carlin-style gold deposits within the ~ 6 sq.
km Rift Anticline target in the northwest corner of its flagship 108 sq. km (42 sq. mile) district scale Red Hill
Property in the Cortez gold trend of Nevada. The Rift Anticline target is located on trend and adjacentI to the
three, multi-million ounce Carlin-type gold deposits (the Pipeline, Cortez Hills and Goldrush deposits) which
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are ranked amongst the world’s thirty largest, lowest cost and politically safest gold mines and are three of
Nevada Gold Mines’ most profitable mines.II
I The similarity and proximity of these deposits in the Cortez Trend including Goldrush are not nece ssarily
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.
ON BEHALF OF THE BOARD OF NULEGACY GOLD CORPORATION,
Albert Matter, Chief Executive Officer & Founding 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 and drilling program for the Rift Anticline target including future drill sites,
targets and plans and the timing and costs thereof and the estimated timeframe for receipt and reporting of
assay results) 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
future 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, delays in receipt of
assay results from third party laboratories, 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 unc ertainty
about the spread of COVID -19 and variants of concern and the impact they will have on the Company’s
operations, personnel, supply chains, ability to access properties or 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. Accordingly,
readers should not place undue reliance on forward-looking information and statements.
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.