NuLegacy Gold (TSXV: NUG | OTC: NULGF) has announced that its geological and discovery teams have completed their in-depth review at the Red Hill property and have agreed on the top five priority drill targets for the 2023 drill programme.
The review of NuLegacy’s flagship 108sq. km Red Hill property concluded that the Cortez-Goldrush-Red Hill block is unique, with the gold mineralization found to date similar to the high-grade Cortez Fourmile deposit area.
Some of the more robust intercepts drilled in the deposit areas include 41.2m @3.91g/t including 12.2m @10.95g/t and 4.6m @25.21g/t and 35.1m @3.41g/t including 21.3m @5.31g/t in the North zone and 22.1m @6.59g/t including 8.7m @16.92g/t in the Serena zone.
Pending financing the proposed five-hole phase one 2023 drill programme is approximately 3,000m of RC-holes with average depths of 600m focused on the Mid-Rift, South-West Rift, and South Iceberg target areas.
While there are numerous drill target areas at Red Hill, the five highest priority targets are in the Mid Rift, South Iceberg, and West Rift determined by geochemical vectoring from existing results and focused along sets of north-northwest trending, steep dipping faults associated with metamorphic and metasomatic alteration at intersections with low angle west dipping fault zones as areas likely to have thick potentially gold bearing host rock sequences and near-vertical bedding within the best host rock sequences.
The global review has improved NuLegacy’s confidence in the continuity of major structures between Cortez mine and the Red Hill property and the potential for a large Carlin-type gold deposit at Red Hill.
NuLegacy will seek financing for the 2023 programme over the next several weeks while continuing its efforts to market either the Red Hill property directly, or its wholly owned subsidiary NuLegacy Gold Corporation NV.
For further information, please visit: www.nulegacygold.com
