~ To test the Rift Anticline as a Goldrush Analogue ~
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PRESS RELEASE
- NULEGACY COMMENCES DRILLING -
~ To test the Rift Anticline as a Goldrush Analogue ~
For Immediate Release October 19, 2020
Reno NV: NuLegacy Gold Corporation (TSXV: NUG; OTCQB: NULGF ) is pleased to report
that drilling has commenced on the highly prospective Rift Anticline target at its flagship, 100%
controlled1, 108-square-kilometer Red Hill gold property. To view this news release with all
graphics displayed please link to : https://nulegacygold.com/news/news-releases/nulegacy-
commences-drilling/
The Red Hill property is located in Nevada's prolific Cortez gold trend, adjacent to three of the
world’s largest high-grade Carlin-type gold depositsI, in one of the world's premier gold- mining
jurisdictions.
The Rift Anticline is a buried anticline of Paleozoic carbonates identified as favourable for hosting
large, high-grade Carlin-style gold deposits such as the 10 million-ounce 10 gram/tonne Goldrush
deposit on trend 10 km northwest across West Pine (rift) Valley.I,II
https://nulegacygold.com/site/assets/files/6737/slide8.jpg
1 Subject to a 3% NSR with 2% owned by Metalla Royalty & Streaming Ltd. and the remaining 1% by Idaho Resources Ltd.
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Mark Bradley, NuLegacy's Vice- President Exploration comments, "Our advanced structural
modelling of the Rift Anticline is a very powerful exploration tool developed under the leadership
of our District Geologist Charles Weakly , permitting us to prioritize our initial drilling efforts
within the large, 5-6 sq. km Rift Anticline target area thus optimizing chances for early discovery."
During the past three years NuLegacy enrolled several former members of Barrick Gold’s highly
successful2 exploration team beginning with Ed Cope as our Director of Exploration, Mark
Bradley as VP Exploration and most particularly, Charles Weakly our Dist rict Geologist
responsible for modelling and targeting.
Together with our existing team and advisors (Quinton Hennigh et al ) they have substantially
advanced the understanding of the Carlin-style gold systems of Nevada . Modeling of the
geochemical, geophysical and drill data of the Rift Anticline has evolved to their being capable of
projecting and target ing the probable gold-bearing Wenban Unit 5 horizon and major
mineralization-controlling structures under the volcanic cover of the Rift Anticline.
On a district scale, the Rift Anticline target projects as an extension of Barrick Gold’s multimillion-
ounce Goldrush gold deposit (hosted in an anticline), as illustrated below and in the linked video:
https://nulegacygold.com/site/assets/files/6774/nug-flyover.mp4
https://nulegacygold.com/site/assets/files/6737/slide9.jpg
The projected extent of the Rift Anticline’s Wenban Unit 5 indicates a 5 to 6 sq. km area
of the horizon favourable to hosting gold mineralization, folded into a sequence of
antiforms as illustrated by the isopach diagram below.
2 https://nulegacygold.com/site/assets/files/6562/june_16-_2020_mine_finders.pdf
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https://nulegacygold.com/site/assets/files/6737/slide18.jpg
Given the folded anticlinal nature of the carbonate sequence and variable depth of
overburden, the favourable Wenban Unit 5 horizon is projected to lie at depths from 275 to
450 meters below the surface with a width of 750 to 1,250 meters. The Wenban 5 horizon
is expected to have a thickness of between 75 to 150+ meters depending on the location as
illustrated below.
https://nulegacygold.com/site/assets/files/6737/slide16.jpg
Drilling: A core rig is drilling hole RA20-01 as part of the initial five-hole test of these
projections. RA20-01 is one of a three-hole fence extending ~500 meters east-west across
the northern Rift Anticline; the two additional holes are targeted approximately 600 meters
south forming a second fence ~600 meters across the north northwest-oriented strike of the
Rift Anticline, testing the northernmost one-quarter of the Rift Anticline illustrated below.
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https://nulegacygold.com/site/assets/files/6737/slide20.jpg
These five holes will reconnoitre the most northerly portion of the currently projected
5 sq. km Rift Anticline target, which is still open on both ends . Once width, average
thickness and grade are established some preliminary estimates of the potential volume of
the favourable gold bearing Wenban Unit 5 can be made.
A total of 4.6 km of road and 5 drill pads are being completed to accommodate the five
holes planned for the fall program in the north of the Rift Anticline to test the crest and
both limbs. The balance of the initial 16-hole drill program designed to test the remainder
of the northern half of the Rift Anticline is scheduled for completion in the spring of 2021.
Final targeting for the remainder of the 42-hole reconnaissance drilling program designed
to test the whole of the Rift Anticline is to be completed over the winter 2020.
https://nulegacygold.com/site/assets/files/6737/slide21.jpg
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Assays will be reported as received and processed with the QA/QC protocols administrated
by NuLegacy’s Qualified Person, Dr. Roger Steininger CPG.
On trend: NuLegacy Gold is 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 depo sits) that are amongst Barrick Gold’s and the world’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. Currently, there are no known
NI 43-101 resources on the 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 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 stratigraphic horizons and structural characteristic s, size , length,
width, thickness and prospective nature of the Rift Anticline target and its similarity to and as a projected extension
of Barrick’s Goldrush deposit, the proposed exploration and drilling 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 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 and drilling 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 ris ks 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 access mineral properties, procure exploration equipment, rigs, 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 assume s no obligation to update or revise them to reflect new events or
circumstances save as required by 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.