NULEGACY GOLD CORPORATION With this permit approval, the planned Phase One exploration drill program of the highly prospective Rift Anticline target can commence.
NuLegacy has identified three high-priority drill targets in the northern half of the Rift Anticline and three additional targets extending south along a north northwest-oriented corridor measuring 5.5 km long and up to 1.2 km wide.
The Rift Anticline is a buried ridge of Paleozoic sedimentary rocks considered favourable for discovery of
NuLegacy plans to drill three to five core holes in the most developed targets commencing mid-October. The balance of the 16-hole program is scheduled for completion in the spring of 2021. Specific details of the drill program will be provided as confirmed.
'The trend is our friend' -
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.
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.
Contact:
Tel: +1 (604) 639-3640
Email: albert@nuggold.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 prospective nature of the Rift Anticline target, 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. 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. There 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 does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
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