April 9, 2013, Reno, NV - NuLegacy Gold Corporation reports the assays for the five hole Wood Hills Project drilling program commenced February 14th, 2013. The Wood Hills Project is located 13 km southwest of and contiguous to the West Pequop and Long Canyon gold deposits.
The drilling program was unable to identify noteworthy gold mineralization although preliminary reconnaissance exploration during 2010-12 suggested the Wood Hills might host an extension to the West Pequop and Long Canyon gold mineralization. While this does not preclude the possibility that the Wood Hills property may eventually host economic resources, NuLegacy Gold will return the property to the vendor (Renaissance Gold - REN:TSXV).
With the elimination of the remaining $3.6 million of Wood Hills commitments NuLegacy has reduced its 2013 exploration expenditure requirements to less than $500,000 fully funded. Total exploration expenditures for the next three years are reduced to $3.6 million; all dedicated to completing the earn-in of the 70% working interest in the Barrick option, and delineating an NI 43-101 compliant resource in the recently discovered Iceberg Gold Deposit on that option. The next drilling program on the Iceberg gold deposit is scheduled to begin in the end of April or early May.
Wood Hills exploration summary: NuLegacy Gold's reconnaissance drilling program in 2011 and 2012 consisted of 20 reverse circulation holes to test geophysical and soil geochemical anomalies, many of which intersected anomalous gold, the most significant of which was hole WHS11-007 which contained 10.7 meters of 0.40 g/t Au. (NR Feb 6, 2012).
A subsequent microgravity survey defined several gravity lows suggesting areas of broken carbonate that might be similar in nature to those that hosted the large volumes of higher grade gold mineralization in the Long Canyon gold deposit. Hole WHS11-007 is located on the margin of one of the gravity anomalies.
The just completed 2013 drilling and assay program consisted of five reverse circulation angle holes totaling 1,225.3 meters (4,020 feet) to test the gravity low near WHS11-007 and two other gravity lows. All five drill holes encountered intensely fractured and brecciated carbonate in the areas of the gravity lows, confirming the geophysical interpretation. Gold intercepts are shown below.
| Hole number | Anomalous gold interval | Interval of >0.10 g/t Au |
|---|---|---|
| WHS13-021 | 86.9-102.1 m | 91.4-99.1 m @ 0.140 g/t Au |
| WHS13-022 | 88.4-106-7 m | 103.6-105.2 m @ 0.108 g/t Au |
| N.B. True widths of drilled gold intercepts cannot be determined at this time. | ||
Holes WHS13-021 and 022 demonstrate lateral continuity, albeit at lower grades, with the intercept in WHS11-007 in altered carbonates immediately above a felsic intrusive. The other three holes did not encounter significant gold mineralization. No additional drilling is planned.
Reverse circulation drilling on the Wood Hills Project was conducted by Envirotech Drilling LLC of Winnemucca, NV under the direction and supervision of NuLegacy Gold's COO, Dr. Roger Steininger (CPG 7417). All of the drill hole samples were analyzed by American Assay Labs of Sparks, NV for gold and a suite of 36 trace elements. Sufficient commercially prepared standards, blanks, and duplicates were inserted to assure quality analytical results. Data verification of the analytical results included a statistical analysis of the duplicates, standards and blanks that must pass certain parameters for acceptance to ensure accurate and verifiable results.
NuLegacy Gold Corporation is a Nevada based exploration company focused on delineating a near-surface Carlin-type oxide gold deposit (the 'Iceberg' deposit) on its 87 square km Red Hill option from Barrick Gold. The Iceberg deposit is on trend with three of Nevada's largest gold deposits and has similar geology and is adjacent to Barrick Gold's on-going multi-million ounce Goldrush gold discovery.
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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