June 12, 2013 Reno, NV - NuLegacy Gold Corporation reports it has initiated the creation of a Plan of Operations for the development of the Iceberg Gold deposit on its Red Hills Project in Nevada. NuLegacy Gold is currently earning a 70% interest in the project from Barrick Gold Corporation.
On acceptance by the Bureau of Land Management (the "BLM") the completed Plan of Operations will permit an increase in the allowable area of disturbance (for drilling activities) on the Red Hill Project to approximately 1,800 acres. Currently the Company is operating under a Notice of Intent with the BLM that permits a 5 acre surface disturbance and there remains sufficient undisturbed acreage within the fully bonded Notice of Intent to complete this year's planned drilling.
The Plan of Operations is being submitted in preparation for the drilling required to delineate the Iceberg gold deposit to NI 43-101 standards, and in anticipation of the $15 million dollars of exploration expenditures that Barrick Gold Corporation will need to fund should it exercise the "earn back" provision in the exploration agreement1 once the Company has acquired its 70% interest. The larger disturbance allowance will give the Company more flexibility in planning and permitting the numerous drill sites required for the 2014 drill season and beyond.
Upon completion of the required cultural and biological studies an Environmental Assessment (EA) will be developed and submitted to the BLM, Battle Mountain, NV office for review and approval. This work is currently in progress under the direction of Enviroscientists, Inc. of Reno, NV. It is anticipated that approval of the Plan of Operation will be issued before the start of the 2014 drilling season.
NuLegacy Gold Corporation is a Nevada based exploration company focused on delineating the near-surface oxide Iceberg gold deposit on its 60 square km Red Hill option with Barrick Gold. The Iceberg deposit has similar geology to that of Barrick Gold's on-going multi-million ounce Goldrush gold discovery.
ON BEHALF OF THE BOARD OF DIRECTORS OF NULEGACY GOLD CORPORATION
James E Anderson, Chief Executive Officer
For further information please phone 604-638-4959 or contact James Anderson at james@nuggold.com, Albert Matter at albert@nuggold.com or Roger Steininger, COO at roger@nuggold.com; or visit our website at www.nulegacygold.com
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