Congrats To Gold Standard, Our Cousins To The North
To NuLegacy shareholders/stakeholders:
There is no finer example of "the making of a Nevada Elephant" than the recent news from Gold Standard Ventures (GSV) of their drill hole Dark Star16-08 with a 126.9-meter intercept of 3.95 grams of gold/ton.
This is an incredible hole which resulted in the doubling of Gold Standard's market capitalization to C$750 million; and as more of this grade material is delineated it will greatly increase the average grade of their deposit as illustrated on slide 14 "The making of a Nevada Elephant" of NuLegacy's PowerPoint presentation.
Prior to this hole GSV had reported the Pinion deposit as containing:
- 0.63 million oz. within 31.61 million tons grading 0.62 g/ton (indicated),
- 1.08 million oz. within 61.8 million tons grading 0.55 g/ton (inferred) ...and the Dark Star extension with,
- 0.375 million oz. within 23 million tons grading 0.5 g/t gold (inferred).
So clearly it won’t take a lot of this 3.95 grams/t gold material to:
“...... significantly increase the size of the North Dark Star deposit [step-out from the Pinion deposit] while also enhancing its prospective grade .........” (GSV news release, August 9, 2016.
This is the sort of hole/s that occurs in the Carlin and Cortez trends of Nevada that can transform a reasonable grade deposit into an elephant!
Gold Standard is about a year ahead of NuLegacy in its development. With our strengthened treasury we now have two rigs drilling and a third on its way, thus improving the possibility of drilling a hole that can take NuLegacy’s current 90 to 110 million tonne exploration target of 0.9 to 1.1 g/ton gold/ti and transform it into the next Nevada elephant.
Thank you and cheers,
Albert J. Matter
NuLegacy Gold Corporation | NUG:TSXV | NULGF:OTCQX
C: 604.512.7003 | www.nulegacygold.com
The foregoing is not intended to be relied upon as advice to investors or potential investors and does not constitute an offer to sell or the solicitation of an offer to buy any security nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. In addition, the foregoing contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions based on information currently available to the Company. Furthermore, the gold mineralization at GSV's Pinion/Dark Star deposits is not necessarily indicative of the gold mineralization at the Company's Iceberg deposit. 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. 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.
iThese figures are conceptual in nature and derived from a compilation of 149 historic and 34 NuLegacy drill holes in and around the Iceberg deposit; there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in a resource being delineated.