NuLegacy Gold Corporation reports awarding a 10,000-meter (33,000 ft.) drilling contract for the 2016 Iceberg deposit exploration program to Major Drilling of Salt Lake City, Utah.
Starting in early May the majority of the multiphase program will focus on expanding the extent of the high-grade zones in the Iceberg deposit, with a sizable portion directed towards exploring other prospective Carlin-type gold systems on the property, principally the Avocado, VIO and Jasperoid Basin gold anomalies. The circa 40-hole program is scheduled for completion late August/early September.
The Iceberg is classic Carlin-type oxidized gold deposit extending along a 3,000-meter structural corridor of gold mineralization with an established exploration target of 90-110 million tonnes of 0.9 to 1.1 grams of gold per tonnei. Located in the Cortez gold-trend of Nevada, the Iceberg is on trendii with three of Barrick Gold's multi-million ounce gold deposits that are amongst its largest, lowest cost and politically safest mines in the world.iii
ON BEHALF OF NULEGACY GOLD CORPORATION
James E Anderson, Chief Executive Officer
Dr. Roger Steininger, NuLegacy's chief operating officer is a Certified Professional Geologist (CPG 7417) and the qualified person as defined by NI 43-101, Standards of Disclosure for Mineral Projects responsible for preparing and reviewing the scientific and technical information contained in this news release
i These figures are conceptual in nature and derived from a compilation of 149 historic and 34 NuLegacy drill holes in and around the Iceberg deposit. To date, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target delineating as a mineral resource.
ii The similarity and close proximity of these deposits in the Cortez Trend is not necessarily indicative of the gold mineralization in the Iceberg deposit.
iii As extracted from Barrick's Q4-2013 and Q1-2014 reports.