2016 drilling returns 200 Meter #Gold intercept
Avocado Discovery Confirmed as Carlin-type Gold Deposit
September 13, 2016 – Reno, NV – NuLegacy Gold Corporation is pleased to
report that the assay results from hole AV-02 confirm the Avocado
IP/Resistivity anomaly hosts a Carlin-type gold deposit. This is the
second Carlin-type gold deposit (Iceberg being the first) discovered
within NuLegacy’s 100% owned 38 sq. mile Cortez-trend property (the Red
Hill project) in Nevada.
Hole AV-02, located 1,750 meters north-west of the Iceberg gold deposit,
has discovered a massive bloom of gold grading 0.26 g/t over 199.7
meters (655 feet) including 24 and 35 meter intervals of 0.5-gram
material, and 10 and 13 meter intervals of better than 1.0-gram material
(details in table below). The gold mineralization is continuous from a
depth of 415 meters to the bottom of the hole at 615 meters (200 m
Plan map link – http://ift.tt/2c6XCld
“We are very encouraged by the results from Hole AV-02”, says Dr. Roger
Steininger NuLegacy’s CGO, “This is the second Carlin-type gold system
we have confirmed on the property. It is at the same depth as Barrick
Gold’s multi-million ounce Goldrush deposit just 9 km to the northwest
and on trend with the Avocado and Iceberg depositsii.
Compilation and reinterpretation of all available data is underway and
additional IP geophysical lines are being surveyed to vector the next
drilling for higher grade gold mineralization”.
AV-02 is 120 meters north of AV-01 (reported 10/28/2014) which returned
three anomalous (less than 0.1 g/t) gold intervals of 12, 20 and 35
meters encountered at 253, 331 and 419 meters respectively. These
anomalous intervals are within the same black carbonaceous pyritic
limestone material that hosts much of the gold mineralization in the
deeper parts of Nevada’s major Carlin-type gold deposits. The suite of
anomalous trace elements present in the material in AV-01 (typical of
large Carlin-type gold systems) indicated that higher grade gold
mineralization should occur in the vicinity.
AV-02’s higher grades and very thick gold-bearing horizon of 200+ meters
together with the same classic trace elements suite indicates the
possibility of much higher grade gold mineralization within the 2.5 km
long and 1 km wide Avocado geophysical anomaly.
A complete review of all geophysical and geochemical data is underway to
determine the exact locations of the next drill holes. Assays for
exploration hole AV-03 are expected shortly; drilling to expand the
Iceberg deposit continues.
See the full news release here: News
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Nulegacy Gold Corporation – Avocado Discovery Confirmed as Carlin-type
Gold Deposit – Tue Sep 13, 2016
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