NULEGACY REPORTS ASSAYS FROM THREE HOLES OF 2021 DRILLING PROGRAM - ~ Assays for final three holes and multi -element geochemical analys es pending
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- NULEGACY REPORTS ASSAYS FROM THREE HOLES
OF 2021 DRILLING PROGRAM -
~ Assays for final three holes and multi -element geochemical analys es pending ~
For Immediate Release October 19, 2021
Reno, NV – NuLegacy Gold Corporation has received assays for the next three of the nine holes
completed in its 2021 diamond drilling campaign. The d rilling was 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-reports-assays-from-three-holes-of-
2021-drilling-program/
Summary:
• Nine widely spaced (0.5 to +1 km) holes have been completed (RA21-01 through -04, -05,
-06, -08, -10 and -13).
• Assays for RA21-01, -02 and 03 were reported on August 26, 2021.
• Assays for RA21 -06, -08 and -13 with intervals of anomalous gold values (cut -off at 0.10
grams gold/t) are reported as:
o RA21-06 (azimuth 249°, inclination - 71°): from 605.0 to 609.3 (4.3) meters averaging
7.66 grams with a high of 19.60 grams gold/t.
This higher -grade interval at the margin of a Tertiary basaltic dike that cuts
Paleozoic limestone Wenban 4 has been categorized as epithermal
mineralization.
o RA21-08 (azimuth 072°, inclination - 57°): 446.5 to 571.8 (125.3) meters with intervals
reporting between 0.10 to 0.28 grams gold/t.
o RA21-13 (azimuth 269°, inclination - 60°): 324.6 to 421.5 (96.9) meters with intervals
reporting between 0.10 to 3.52 grams gold/t with the best intervals being:
5.0 meters from 368.1 averaging 2.21 grams with a high of 3.52 grams gold/t.
12.0 meters from 385.3 averaging 0.42 grams with a high of 0.49 grams gold/t.
Alteration and mineralization associated with these gold intercepts is interpreted
to be Carlin-style occurring in the Devonian Wenban 5 formation.
These intervals are not necessarily true widths as there is insufficient data at
this time with respect to the shape of mineralization to calculate its true orientation.
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• To date, numerous anomalous gold values have been encountered in the Wenban, Roberts
Mountains and Hanson Creek formations, all of which are host to multiple large gold
deposits in the region. I Thick sections of these prospective hosts rocks have been
encountered in each of the first six 2021 drill holes.
• The remaining three holes (R A21-04, -05 and -10) have now been logged, split, and
submitted for assaying.
• The pulps from assaying the first six holes are being processed and submitted for multi-
element analysis and should be available for input to our geochemical model by end-
November.
(https://nulegacygold.com/site/assets/files/6916/october_19_2021_drillmap.jpg)
Once all the gold assays and the multi-element analytic results are returned, reviewed, and
reported 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, pulv erized and sample pulps were analysed using industry standard
fire assay methods. A blank or certified reference material was inserted approximately every 20 th 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 ~ 10 sq.
km Rift Anticline target in the northwes t 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
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three, multi-million ounce Carlin-type gold deposits (the Pipeline, Cortez Hills and Goldrush deposits) which
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 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.
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 n ot limited to, the prospective nature of the Rift Anticline
target, the proposed modeling, exploration and drilling program for the Rift Anticline target including
potential future drill sites, targets and plans and the timing and costs thereof and the est imated 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 uncertainty about the spread of CO VID-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 acti vity 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.c om.
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.