NuLegacy Commissions Maiden Resource Calculation
Selects Mine Development Associates for NI 43-101
RENO, Nev., Oct. 24, 2017 (GLOBE NEWSWIRE) -- NuLegacy Gold Corporation reports it has engaged Mine Development Associates of Reno, Nevada to evaluate the gold resource inventory of the Iceberg gold deposits on our Red Hill property in the Cortez gold trend of North-central Nevada.
The resource inventory will be constrained to the approximately 35% of the 3-kilometer strike length of the Iceberg deposits that has sufficient drill density to support a calculation. This will enable us to extrapolate how many ounces might be in the Iceberg as a whole, and thus estimate the drilling budget that would be required to confirm the total possible resource.
Using a cut-off incorporating all holes drilled to the end of 2017 Mine Development Associates is compiling the necessary data to provide an initial resource estimate in Q1, 2018. The resulting resource will be updated periodically as additional drilling results warrant.
“As well as enabling resource expansion budgeting for the Iceberg deposits this will provide our investors the ability to measure our progress to date against the stated goal of establishing a multi-million-ounce resource on the Red Hill property,” said James Anderson, NuLegacy’s CEO. “The Iceberg deposits remain open in multiple directions and we are fortunate to continue to find prospective new gold zones (Serena, VIO, Avocado, Western Slope, Deep Iceberg, etc.) on our 98-square km. Red Hill claim block.”
