Dec 10 2012
NuLegacy Gold Corporation reports that the six-hole follow-up drilling program on the Iceberg gold deposit in the Central Mineralized Zone (CMZ) announced on Oct 22nd was completed as scheduled on November 17th, 2012.
Assay results for the six holes will be reported as soon as they have all been received, compiled and fully analyzed.
The six holes are intended to test possible extensions of the oxidized gold mineralization of the Iceberg deposit as well as the potential for deeper sulphide gold zones. A further drilling program will be established in the New Year to follow-up on successful CMZ results, as well as test the Avocado IP anomaly in the Central Pediment area and the geochemical gold anomalies in the Jasperiod Basin.
As detailed on our website at CMZ-Drilling-Map.jpg five of the six holes were stepped-out to the north and northwest, and one hole was drilled to the south of discovery hole RHB-006 which contained a near-surface intercept of 90 feet (27.4 meters) of oxidized gold mineralization grading 1.4 g/T including 35 feet (10.7 meters) of 2.6 g/T as reported on June 13, 2012.
The Iceberg gold deposit remains open in all directions. It is one of four Carlin-type gold-bearing systems identified to date on our Red Hill Project and it follows the classic North-Northwest strike orientation of the major gold deposits in the Cortez Trend. The gold mineralization is hosted in silicified Devonian carbonates with the associated Carlin-type gold deposit trace elements and alteration.
The Red Hill Project, in the Cortez District, is southeast of Barrick Gold's recent Goldrush discovery with a reported multi-million-ounce gold resource. Barrick Gold Inc. produces in excess of 1 million ounces of gold/year from its Cortez Operations, which have been in production since 1968.
NuLegacy Gold Corporation is a Nevada focused exploration company exploring for Carlin-type replacement gold deposits on its two highly prospective district scale properties; the 100 km2 Red Hill Project and the 100 km2 Wood Hills South Project. Both projects have geology similar to the adjacent multi-million ounce gold discoveries that were made subsequent to the acquisition of our properties. The NuLegacy exploration and drilling programs underway employ proprietary techniques for targeting multi-million ounce deposits.