NuLegacy Gold Corp (TSX-V:NUG) told investors that drilling has commenced on its flagship Red Hill property in Nevada’s Cortez gold trend.
The gold exploration company said drilling on hole M23-01 — the first of five holes that are planned for the 2023/24 season — has commenced and is expected to take seven to eight days to reach the initial targeted termination depth of 2,000 feet.
The truck-mounted Ingersoll Rand RD-10 RC drill, which is capable of drilling to 3,000 feet, will then move to hole IS23-02.
“With this configuration of holes, the probability of drilling a discovery hole, or being close enough that the alteration and geochemical analysis from that hole will vector us in the right direction, is very good,” exploration team leader Nancy Richter commented in a statement.
NuLegacy Gold is exploring for high-grade Carlin-style gold deposits on its well-located 108-square-kilometer district-scale Red Hill property.
Red Hill is on trend/adjacent to three of Nevada Gold Mines’ most profitable multi-million ounce Carlin-type gold mines; the Pipeline, Cortez and Goldrush II with their massive 50+ million ounces gold endowment.
Contact the author at stephen.gunnion@proactiveinvestors.com