RENO, Nev., Dec. 06, 2023 (GLOBE NEWSWIRE) -- NuLegacy announces that it has completed the first two reverse circulation drill holes [Mid-rift (MR2023-01) and Iceberg South (IS23-02)] of its five-hole fall 2023/winter 2024 drilling program with the sample chips shipped to the assay lab for prep and assaying.
The assay results for MR23-01 (drilled Nov 11th to Nov 21st) are expected in mid-December, and results for IS23-02 (drilled Nov 22nd to Dec 6th) with the intervening Christmas break are expected in late January 2024.
Weather conditions in Nevada have made drilling conditions hazardous and more expensive. As a result, we have agreed with the drilling contractor for an early Christmas break for equipment repairs and maintenance with a resumption in the New Year when the frost has gone deep enough to freeze the roads solid.
As reported Nov. 27th, due to the trading price of the Company's shares having exceeded the C$0.025 offering price of the Company's recent non-brokered unit private placement, the TSX Venture Exchange, pursuant to exchange policy, would not accept the Company's request for a further 'extension' to complete the balance of the offering at $0.025 per unit. Market conditions permitting, the Company intends to initiate a new offering of additional units in the New Year, priced in the context of the market at that time.
About NuLegacy Gold
Exploration: NuLegacy is focused on exploring for high-grade Carlin-style gold deposits on its premier 108 sq. km (42 sq. mile) district scale Red Hill property.
The Red Hill is on trend/adjacentI to three of Nevada Gold Mines' most profitable multi-million ounce Carlin-type gold mines; the Pipeline, Cortez and GoldrushII with their massive 50+ million ounces gold endowment. These are three of the world's thirty largest, lowest cost, highest grade, and politically safest gold mines, producing annually circa 3% of the world's gold.
Seven of NuLegacy's principals/exploration team members have contributed to/participated in the discovery/expansion of one or more of all seven of Nevada's massive Carlin-style gold deposits.
Other activities: With the 'on-going' recovery in the price of gold to circa US $2,000 (+/- $200) making gold mining considerably more profitable, (as evidenced by the industry's highest dividend payout ratios in more than twenty years), in addition to making a discovery on our premier flagship Red Hill property with its numerous prospective targets, NuLegacy's focus will includeIII:
Establishing the viability of mining-shipping the mineralized material in the Iceberg corridor (North, Serena, and Central zones).
Engaging with potential joint venture partners to assist NuLegacy in making that viability determination and financing a positive decision.
Establishing a paying royalty portfolio to, at a minimum, cover the annual ongoing cost (~ US $425,000) of maintaining NuLegacy's ownership/control of the prized Red Hill property.
And, mindful that we have, in our opinion, the best Carlin-exploration team,
Promoting the Red Hill to companies with the requisite engineering, construction, and production management to develop any future discovery at Red Hill.
Engaging with neighboring landowners to review potential synergies/opportunities.
I The similarity and proximity of these deposits in the Cortez Trend including Goldrush are not necessarily indicative of the gold mineralization in NuLegacy's Red Hill Property.
II Currently structured as an underground mine Goldrush contains P&P: 7.8 M oz @ 7.29 g/t; M&I: 8.5 M oz @ 7.07 g/t (inclusive of P&P); and Inferred: 4.5 M oz @ 6.0 g/t (as of December 31, 2021). Source: Corporate presentation of Nevada Gold Mines – Goldrush Underground dated September 22, 2022.
III There are no known mineral resources or reserves on the Red Hill Property and the current drill program is an exploratory search for ore.
On Behalf Of The Board Of NuLegacy Gold Corporation
Albert J. Matter, Chief Executive Officer & Cofounding Director
Tel: +1 (604) 639-3640; Email: albert@nuggold.com
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
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.
內華達州里諾，2023年12月6日（GLOBE NEWSWIRE）——NuLegacy宣佈，它已經完成了2023年秋季/2024年冬季五孔鑽探計劃的前兩個反循環鑽孔（Mid-Rift（MR2023-01）和Iceberg South（IS23-02）），樣品芯片已運往分析實驗室進行準備和化驗。
MR23-01（11月11日至11月21日鑽探）的化驗結果預計在12月中旬公佈，IS23-02（11月22日至12月6日鑽探）以及中間的聖誕假期的結果預計將於2024年1月下旬公佈。
內華達州的天氣條件使鑽探條件變得危險且更加昂貴。因此，我們已經與鑽探承包商達成協議，在聖誕節提前休息一段時間，進行設備維修和保養，並在霜凍深到足以使道路結冰的新年裏恢復。
據11月27日報道，由於公司股票的交易價格已超過該公司最近非經紀單位私募的0.025加元的發行價，根據交易所政策，多倫多證券交易所風險交易所將不接受該公司關於再次 “延期” 以完成每單位0.025美元的發行餘額的請求。如果市場條件允許，公司打算在新的一年裏推出新的增發單位，並根據當時的市場定價。
關於 NuLegacy G
勘探：NuLegacy專注於在其佔地108平方公里（42平方英里）的頂級紅山地產上勘探高品位的卡林式金礦。
紅山是內華達州金礦中三個最賺錢的數百萬盎司卡林型金礦；Pipeline、Cortez和GoldRushii擁有5000多萬盎司的巨額黃金儲備。這是世界上三十個最大、成本最低、品位最高和政治上最安全的金礦中的三個，每年生產的黃金約佔世界黃金產量的3％。
NuLegacy的七名負責人/勘探團隊成員爲內華達州所有七個巨大的卡林式金礦牀中的一個或多個的發現/擴建做出了貢獻/參與。
其他活動：隨着金價 “持續” 回升至約2,000美元（+/-200美元），這使得金礦開採的利潤大幅提高（二十多年來業內最高的股息支付率就證明了這一點），除了發現我們的頂級旗艦紅山房地產及其衆多潛在目標外，NuLegacy的重點將包括III：
確立在冰山走廊（北部、塞雷納和中部區域）採礦運輸礦化材料的可行性。
與潛在的合資夥伴合作，協助NuLegacy做出可行性決定併爲積極的決策提供資金。
建立付費特許權使用費投資組合，以至少支付維持NuLegacy對紅山珍貴房產的所有權/控制權的年度持續成本（約42.5萬美元）。
而且，考慮到我們認爲我們擁有最優秀的 Carlin-Exploration 團隊，
向具備必要工程、施工和生產管理能力的公司推廣紅山，以便在紅山開發未來的任何發現。
與鄰近的土地所有者接觸，審查潛在的協同作用/機會。
I 包括Goldrush在內的科爾特斯趨勢中這些礦牀的相似性和鄰近性並不一定表明NuLegacy的Red Hill地產中存在金礦化。
II 目前構造爲地下礦山 Goldrush 含有 P&P：7.8 萬盎司 @ 7.29 g/t；M&I：8.5 萬盎司 @ 7.07 g/t（包括損益）；推斷：4.5 萬盎司 @ 6.0 g/t（截至 2021 年 12 月 31 日）。資料來源：2022年9月22日內華達州金礦——Goldrush Underground的公司簡報。
III Red Hill Property上沒有已知的礦產資源或儲量，目前的鑽探計劃是對礦石的勘探性探索。
代表 NuLegacy Gold Corporation 董事會
Albert J. Matter，首席執行官兼聯合創始董事
電話：+1 (604) 639-3640；電子郵件：albert@nuggold.com
本新聞稿不構成出售要約或招攬買入要約，也不得在任何此類要約、招標或出售非法的司法管轄區出售任何證券，包括美利堅合衆國的任何證券。這些證券過去和將來都不會根據經修訂的1933年《美國證券法》（“1933年法案”）或任何州證券法進行註冊，除非根據1933年法案和適用的州證券法進行註冊，否則不得在美國境內發行或出售給美國個人（定義見1933年法案的S法規），也不得爲美國個人（定義見1933年法案的S條例）發行或出售，或者可以免除此類註冊要求的豁免。
NuLegacy董事羅傑·斯坦寧格博士是一名認證專業地質學家（CPG 7417），也是NI 43-101《礦業項目披露標準》定義的合格人員，負責批准本新聞稿中包含的科學和技術信息。
