April 19, 2016 - Reno, NV - NuLegacy Gold Corporation reports awarding a 10,000-meter (33,000 ft.) drilling contract for the 2016 Iceberg deposit exploration program to Major Drilling of Salt Lake City, Utah.
Starting in early May the majority of the multiphase program will focus on expanding the extent of the high-grade zones in the Iceberg deposit, with a sizable portion directed towards exploring other prospective Carlin-type gold systems on the property, principally the Avocado, VIO and Jasperoid Basin gold anomalies. The circa 40-hole program is scheduled for completion late August/early September.
The Iceberg is classic Carlin-type oxidized gold deposit extending along a 3,000-meter structural corridor of gold mineralization with an established exploration target of 90-110 million tonnes of 0.9 to 1.1 grams of gold per tonnei. Located in the Cortez gold-trend of Nevada, the Iceberg is on trendii with three of Barrick Gold's multi-million ounce gold deposits that are amongst its largest, lowest cost and politically safest mines in the world.iii ON BEHALF OF NULEGACY GOLD CORPORATION James E Anderson, Chief Executive Officer For further information, please phone 604-639-3640 or contact James Anderson at email@example.com, Albert Matter at firstname.lastname@example.org or Roger Steininger, COO at email@example.com; or visit www.nulegacygold.com.
Dr. Roger Steininger, NuLegacy's chief operating officer 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 preparing and reviewing the scientific and technical information contained in this news release
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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 based on assumptions made by and information currently available to the Company. 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. There are no known resources or reserves in the Iceberg deposit and the proposed exploration programs are exploratory searches for commercial bodies of ore. In addition, the presence of gold deposits on properties adjacent or in close proximity to the Iceberg Deposit is not necessarily indicative of the gold mineralization on the Iceberg Deposit. The forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com including our annual management's discussion and analysis dated July 28, 2015 for the year ended March 31, 2015. 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.
i These figures are conceptual in nature and derived from a compilation of 149 historic and 34 NuLegacy drill holes in and around the Iceberg deposit. To date, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target delineating as a mineral resource. ii The similarity and close proximity of these deposits in the Cortez Trend is not necessarily indicative of the gold mineralization in the Iceberg deposit. iii As extracted from Barrick's Q4-2013 and Q1-2014 reports.