NuLegacy Gold Adds Soil Gas Sampling to Red Hill Exploration Program
(firmenpresse) - RENO, NEVADA -- (Marketwire) -- 08/11/11 -- NuLegacy Gold Corporation (TSX VENTURE: NUG) reports adding a soil gas survey to the 10,500 meter drill program underway on its 45 square mile Red Hill Prospect in the Cortez gold trend of Nevada.
Dr. Roger Steininger, NuLegacy's COO says, "This is an appropriate time to use this exploration tool to narrow the drilling target options." Mercury soil gas surveys have been successful in targeting gold deposits in Nevada in geological environments similar to that at Red Hill.
The soil gas sampling survey is centered on hole BRH-013 ( for details) and is intended to guide the targeting of the follow-up drilling to its 13.7 meter intercept of 8.11 grams of gold/ton which is within 24.4 meters of 4.99g Au/t from 585.4 to 609.8 meters. The initial reconnaissance survey will measure mercury gas at 100 sites spaced 100 meters apart on a 1,000 by 1,000 meter grid centered on BRH-013. Once the results have been plotted the survey will be expanded as warranted. The initial survey, which is predominantly on the Miranda Gold Corp. (TSX VENTURE: MAD) portion of the Red Hill Prospect, is being conducted by Miranda personnel using an OhioLumex RA-915 Hg-Gas Spectrometer.
The 45 square mile Red Hill Prospect is in the Cortez Segment of the Battle Mountain-Eureka Gold Trend. The is a west-northwest alignment of large bulk-mineable, sediment-hosted gold deposits including the Pipeline (NuLegacy's COO Roger Steininger is credited with discovering the South Pipeline portion), the Cortez and Cortez Hills gold mines and the current ET Blue-Lower Horse Canyon gold discovery (with collective gold reserves of 40+ million ounces). These mines have produced in excess of 10 million ounces of gold to date. The Red Hill Prospect, whose geology is similar to that of these four en echelon gold deposits, is approximately 15 miles (24 km) southeast of the Cortez Hills gold mine and 7 miles (12 km) southeast of the on-going ET Blue/Lower Horse Canyon discovery, both owned by Barrick Gold Corp.
NuLegacy Gold Corporation is a Nevada based exploration company focused on the discovery of Carlin-type replacement gold deposits on its two highly prospective district scale properties, the 45 square mile and the 35 square mile Wood Hills South Prospect. The exploration and drilling programs underway employ sophisticated techniques for targeting multi-million ounce deposits.
ON BEHALF OF THE BOARD OF DIRECTORS OF NULEGACY GOLD CORPORATION
Albert J. Matter, Chief Executive Officer
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. See the cautionary statement "Forward-Looking Statements" and "Risk Factors" in the Company's prospectus dated November 10, 2010 available on SEDAR at . These forward-looking statements 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. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The technical disclosure in this press release has been reviewed by Dr. Roger Steininger, the Chief Operating Officer of the Company and a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Contacts:
NuLegacy Gold Corporation
Albert Matter
CEO
604-638-4959
NuLegacy Gold Corporation
Roger Steininger
COO
604-638-4959
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Datum: 11.08.2011 - 19:20 Uhr
Sprache: Deutsch
News-ID 45395
Anzahl Zeichen: 0
contact information:
Town:
RENO, NEVADA
Kategorie:
Mining & Metals
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