The winter program consisted of five core holes totalling 2,230 meters (7,300 ft) on both flanks of the Rift Anticline target and a CSAMT survey over the Rift Anticline. Four holes were drilled on the eastern flank of the Rift Anticline, including two at Western Slope and two at the Serena Offset targets, with one incompletion on the western flank in the 4Mile Look-a-like target.
Hole WS19-02, drilled on the eastern flank of the Rift Anticline, returned a high-grade interval grading 9.6 grams/ton gold over 5.2 meters starting at 353 meters (with an internal spike to 25 grams/ton gold) within 27.1 meters of the strongly altered (silicification, decarbonatization and brecciation) favourable Wenban5 horizon and contained elevated gold values (greater than 200 ppb) throughout.
This is another in the series of the significant high-grade albeit only moderately thick intercepts that have been encountered across a span of 1,400 meters from the North Iceberg (11.0 grams/ton gold within 12.2 meters) through the Serena zone (16.9 grams/ton gold within 8.7 meters)1, and now the Western Slope (9.6 grams/ton gold within 5.2 meters) vectoring towards the northeast-southwest trending Rift Anticline. Rift Anticline Goldrush Analogue Slide #4
'These are significant results', commented
Thick intervals of high-grade gold within a distinctive anticlinal structure and highly fractured geochemically favourable gold bearing Wenban5 stratigraphic horizon are characteristic of what make
Importantly the analysis of the CSAMT survey conducted across the Rift Anticline indicates that the favorable Wenban5 horizon hosting the high-grade 'sniffs' that NuLegacy has encountered to date extends to as much as 1,500 meters across the Rift, and, that it is as much as 90+/- meters thick as affirmed by the proximal hole WS18-01. Rift Anticline Goldrush Analogue Slide #6
The survey analysis also shows the thicker Wenban5 horizon is significantly more fractured with multiple high-angle faults intersected by a swarm of low-angle thrust faults starting 150 meters to the west of WS18-01, creating multiple conduits for gold-bearing fluids.
CSAMT geophysical surveys (Controlled-source Audio-frequency Magnetotellurics5) have proven particularly effective in identifying the intersections of the high-angle northwest crosscutting faults and the low-angle thrusts faults that function as important conduits for the gold-bearing fluids.
As well the suite of six CSAMT lines surveyed across the Rift indicate that the geochemically favourable Wenban5 formation in the Rift Anticline is 4.5 kilometres long on its northwest-southeast trending strike and open on both ends. Rift Anticline Goldrush Analogue Slide #5
Additional CSAMT surveys will be conducted this spring, as soon as weather conditions permit, to determine the full length of the Rift Anticline, as it parallels the western boundary of NuLegacy's property, to facilitate road access and drill site planning.
All the assay data, core logging, COLOG acoustic tele-viewer information, and CSAMT data is currently being incorporated into an updated geologic model for additional analysis. Once the analysis is completed, a determination will be made as to whether follow up drilling is warranted on the flanks or should be focused entirely on testing the Rift Anticline target.
Of the remaining three holes drilled on the east flank WS19-01C encountered weak gold and trace element values through most of its length and terminated in unit Wenban4 with the last 1.5 meters of the hole returning 2.63 g/t gold, suggesting that mineralization may occur deeper in the section. Holes SO19-01C and SO19-02C, drilled in the Serena Offset target just west of the Serena deposit intersected strong alteration and trace-element geochemistry without significant gold values, indicating that the main part of that gold system is likely northwest of the Serena Offset. Core hole 4M19-01, drilled to test the Four Mile Lookalike target on the west flank of the Rift Anticline, was lost before reaching target depth due to technical drilling difficulties, so it was unable to fully evaluate the lower target.
A
Roger Steininger7, a Director of NuLegacy, is a Certified Professional Geologist (CPG 7417) and NuLegacy's 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.
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The similarity and proximity of these deposits in the Cortez Trend is not necessarily indicative of the gold mineralization in NuLegacy's Red Hill Property.
Contact:
Tel: +1 (604) 639-3640
Email: albert@nuggold.com
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 were continuously monitored. A blank or certified reference material was inserted approximately every 10th sample. The samples were delivered to
Cautionary Statement on Forward-Looking Information
This news release contains forward-looking information and forward-looking statements under applicable securities laws, which information and/or statements relate to future events or future performance (including, but not limited to, NuLegacy's proposed drilling programs, the estimated date for approval of NuLegacy's expanded AV PoP and the number, location, cost and timing of drill targets) and reflect management's current expectations and assumptions. Such forward-looking information and statements reflect management's current beliefs and are 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, environmental risks, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, 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 and any proposed exploration programs are exploratory searches for commercial bodies of ore. In addition, the presence of gold resources on properties adjacent or near the Red Hill Property is not necessarily indicative of the gold mineralization on the Red Hill Property. 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 under applicable securities legislation.
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