NuLegacy Gold Corporation (NUG:TSXV) is a Nevada based gold exploration company totally focused on discovering large 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.
The Red Hill Project is immediately adjacent to and has similar geology as Barrick Gold's on-going multi-million ounce Goldrush Carlin-type gold discovery. NuLegacy has commenced a 25 hole drilling program with assays expected starting late-May, 2012.
The Wood Hills South Project has similar geology as the adjacent Long Canyon Carlin-type gold discovery recently purchased by Newmont for $1.8 billion. The just completed and remarkably successful reconnaissance drilling program identified very important near-surface oxidized gold mineralization. This is being followed up with detailed gravity and soil sampling to target the next round of drilling planned for later this summer.
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