Reno, NV - NuLegacy Gold Corporation has recently commenced drilling at its Wood Hills South gold project.
The Wood Hills South Project is located adjacent to and on trend with the West Pequop and Long Canyon gold deposits in north-central Nevada, which were recently acquired by Newmont Mining Corporation for approximately $2.3 billion.
"We are very excited to be drilling at Wood Hills", says Dr. Roger Steininger, COO of NuLegacy, "as this will be the first time this property is drilled. The potential is significant since we believe that the Wood Hills Project may be the southwestern extension of the emerging West Pequop gold district."
The 2,000 meter reverse circulation drill program is designed as an initial test of the geophysical and geochemical targets that were established by the 31,000 meters of IP/Resistivity (geophysics) and 70,000 meters of soil sampling (geochemical) surveys completed during the past year's preparatory exploration programs.
The important aspects of the Wood Hills South Project that have been identified are:
- A geological environment that is similar to that in the developing Pequop gold district immediately to the east.
- Numerous gold-bearing jasperoids (silicified bodies) occurring at the range front along the southern edge of the Wood Hills that may represent the margins of gold systems under thin gravel cover to the south.
- A gravity survey indicates that only a relatively thin veneer of gravel covers the favorable bedrock for a few miles to the south of the range front which represents good exploration opportunities.
- The IP/resistivity surveys have identified anomalies that indicate that the bedrock has been broken and altered, with potential sulfides at depth suggesting areas that could contain gold mineralization. The soil geochemistry results, which generally correspond to the IP/resistivity anomalies, display significantly anomalous gold as well as the typical Carlin-type gold deposit suite of trace elements (see news release dated July 27, 2011).
The first drill holes will test several of these anomalies to develop a better understanding of the covered geology and its gold mineralization potential. It is anticipated that the drilling will consist of mostly short holes (150 meters) to sample the bedrock formations followed with deeper holes once gold-bearing mineralization has been located. The drill results are expected to be available in Q1 2012.
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 Red Hill Prospect and the 35 square mile Wood Hills South Prospect, both of which are now adjacent to multi-million ounce gold discoveries with similar geology made subsequent to our acquisition of the properties. 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
For further information please phone 604-638-4959 or contact Albert Matter at firstname.lastname@example.org or Roger Steininger, COO at email@example.com; or visit our website at www.NuLegacygold.com
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