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nulegacy gold corp (NUG) Details

NuLegacy Gold Corporation engages in the acquisition and exploration of mineral properties in the United States. The company explores for gold deposits. Its principal properties include the Red Hills project that comprises 1,300 unpatented lode mining claims covering approximately 105 square kilometers located in Eureka County, Nevada; and the Wood Hills South project, which consists of 451 unpatented lode mining claims covering 90.6 square kilometers of fee lands located in Elko County, Nevada. The company was incorporated in 2009 and is headquartered in Vancouver, Canada.

Founded in 2009

nulegacy gold corp (NUG) Top Compensated Officers

Chief Executive Officer, Director of Finance ...
Total Annual Compensation: C$134.5K
Executive Chairman, Director of Strategic Pla...
Total Annual Compensation: C$134.5K
Chief Financial Officer and Controllership
Total Annual Compensation: C$33.7K
Chief Operating Officer, Director of Acquisit...
Total Annual Compensation: C$103.2K
Compensation as of Fiscal Year 2014.

nulegacy gold corp (NUG) Key Developments

NuLegacy Gold Corporation Reports Gold Assays from Last Four Reverse Circulation Holes Drilled During the Fall 2014 Exploration Program on Iceberg Gold Deposit in the Cortez Gold-Trend of Nevada, USA

NuLegacy Gold Corporation reported gold assays from the last four reverse circulation holes drilled during the fall 2014 exploration program on the Iceberg gold deposit in the Cortez gold-trend of Nevada, USA. Two of the four holes (RHB-35 and 36) were drilled as extensions of the North zone of the Iceberg and two (RHB-37 and 38) were wildcat step outs. Of the two step-outs RHB 37 was drilled fully 600 meters/1,950 feet to the west of the Iceberg proper to test a gold in soil geochemical anomaly and results indicate a possible western extension (or parallel zone) to the Iceberg gold deposit. RHB 38 is 1,750 meters/5,700 feet to the northeast as an initial test of a CSAMT(i) geophysical anomaly along the range front. Iceberg extensions - the high grade North zone is open in all directions: Hole RHB-35 returned a significant high-grade gold intercept of 3.3 grams of gold/tonne over 10.7 meters/35.1 feet (within a 32.0 meter/105 foot interval of 1.23 grams of gold/tonne) extending the high grade zone 45 meters/150 feet to the northeast with individual samples as high as 12.7 grams of gold/tonne. Both holes RHB-35 and 36 encountered significant gold mineralization within the strongly oxidized and altered Horse Canyon (HC) contact zone. Wildcats - the 60 sq. km/23 sq. mile property is a target rich environment: Hole RHB-37 encountered gold mineralization in silicified siltstone/limestone within the HC contact zone. As an initial test of either a western extension or parallel zone to the Iceberg gold deposit, this is an important hole; it confirms gold mineralization beneath a large 'gold in soil anomaly' to the west of Iceberg. Additional drilling is needed to adequately test this anomaly. While hole RHB-38 detected no reportable gold, it did encounter 23 meters/75 feet of silicified siltstone and limestone with associated Carlin-type trace elements. This is the first hole in this large range front CSAMT anomaly which is being reassessed to identify additional drill targets.

NuLegacy Gold Corporation Reports Favorable Metallurgical Test Results

NuLegacy reported the results of an preliminary leach test conducted by American Assay Labs confirm the Iceberg gold deposits' favorable leaching characteristics. The one hour tumble leach in cyanide' tests were conducted using previously assayed 30 gram sample pulps from the recently completed core hole drilling. Atomic absorption assaying of the resulting leach liqueur demonstrated remarkably high average recoveries of 74.5% (within a range of 64.4% to 89.2%) from the oxidized Horse Canyon-Wenban contact horizon material wherein most of the Iceberg deposit's gold is contained.

NuLegacy Gold Corporation Reports Gold Assays from Remaining Four Core Holes

NuLegacy Gold Corporation reported gold assays from the remaining four core holes (RHB14-31 to RHB14-34) of the seven drilled during the fall 2014 exploration program on the Iceberg gold deposit in the Cortez gold-trend of Nevada, USA. Drilling continues to identify significant gold in the older overlying volcanics, as well as the principal near-surface gold-bearing Devonian carbonate contact horizons. While core drilling has succeeded in providing a more accurate and higher grade to the Iceberg gold deposit, it is more than twice the cost per foot as reverse circulation drilling. It also takes considerably longer to drill and assay a core hole than a reverse circulation hole, as the core must first be split (the length of it sawn in half) with one half then ground into a pulp before assaying can commence, whereas the chips from the reverse circulation drilling can be directly assayed. Going forward, the spring program will revert to predominantly reverse circulation drilling. At less than half the cost per hole, reverse circulation drilling will result in more than twice as many holes in about half as much time, thus providing many more opportunities for discovering additional gold during the 2015 exploration program. Assays for the remaining four reverse circulation holes are anticipated over the next several weeks, and will be reported as processed by NuLegacy's geological team. All the assays will be integrated into the Iceberg deposit's exploration model and, together with the results of the gravity survey just completed over the entire Iceberg deposit, will establish drill targets for the spring 2015 drilling program.


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