Nevada has the world's largest concentration of 'Carlin-type' geology in the world. As a result of this mineral-rich geology and a favorably regulatory climate for mining, Nevada is the sixth largest producer of gold in the world providing 80% of the US' production. It has produced over 170 million ounces of gold with remaining reserves of more than 70 million ounces predominantly from its numerous 15+ million ounce Carlin-type deposits.
Nevada is ranked by the Fraser Initiate as one of the most favorable environmental and regulatory regimes with excellent infrastructure, logistical capability and political stability.
The two largest gold producers in the world, Barrick Gold and Newmont, source substantial portions of their production for the state.
In 2009-10 NuLegacy Gold assembled the highly prospective 87 sq. km Red Hills Project in the prolific Cortez segment of the famed Battle Mountain-Eureka gold trend of Nevada. The Red Hills Project is located between Barrick Gold's new multi-million ounce Goldrush discovery immediately to the north, and US Gold's Tonkin Springs operation to the south.
NuLegacy Gold has discovered the Iceberg near-surface oxidized gold deposit in one of the three gold-bearing Carlin-systems identified to date on the Red Hill Project.
1 The Fraser Institute is The Fraser Institute is a well-known fiscally conservative think tank based in Canada that espouses free market principles .