Toward the end of the financial collapse of 2008-09, Dr. Roger Steininger called his friend and business associate Albert Matter and asked whether Albert would be able to raise some money for a gold mining venture in Nevada, as there were parcels of claims coming available for option that would never come available under normal circumstances.
“I just don’t know,” was Albert’s straightforward answer, who although sensing an important business opportunity was unsure whether fellow Vancouver speculators would see it his way, given the ruin of asset prices everywhere. But within 10 days Albert, the consummate and indefatigable salesman had raised $1.0m for gold exploration in Nevada. NuLegacy Gold Corporation was incorporated as a private company in March of 2009 – within days of the lows in the financial collapse. By the time of its IPO in 2011, NuLegacy had options on four strategic parcels of land in Nevada’s best and most exciting gold trends.
Then 2012 came by and changed NuLegacy in several ways:
First there was drill hole RHB-06 - the Iceberg deposit’s discovery hole – 27.4m of 1.4 grams per tonne gold, and Roger Steininger’s recognition that this was ‘Carlin-type’ gold mineralization and could be part of a huge deposit. “We may have found the ‘Tip of the Iceberg’, ” he said, and the name stuck.
James Anderson, a friend and business partner of Albert’s and one of NuLegacy’s first shareholders was impressed and excited. After meeting with Albert it was decided that they would work together - Anderson with the role of CEO, and Albert with the role of Executive Chairman.
But then the brutal bear market in precious metals of 2012 to 2016 took hold. In response, NuLegacy jettisoned all of its other land holdings, and steadfastly raised the money necessary to secure its option to a 70% interest in the Red Hill property (home of the Iceberg deposit) from Barrick Gold Corp.
NuLegacy strategically completed its option in the fall of 2015. By February of 2016, it had negotiated its way to a 100% working interest in the 98 km² Red Hill property. Within the next six months it had raised C$17m for exploration and had invited the Australian gold miner OceanaGold Corp. to become a strategic partner and NuLegacy’s largest shareholder. NuLegacy has now enrolled an experienced and dedicated team of business and geological professionals to ensure the company’s growth and ultimate success.
2017 was a year of discovery at Red Hill: Drilling successes at the new Serena zone, (and then its subsequent connection to the North zone), an entirely new epithermal discovery on the VIO claims, and a new understanding of its 2016 pediment discovery at the Avocado zone.
2018 begins anew with fresh hope and fresh ideas for expanding these zones’ known mineralization and for a new and major discovery at Red Hill, befitting the stories of other great Nevada gold finds. We have the location, the team, and the money to make just such a thing happen this year.