NuLegacy Gold Corp (TSX-V:NUG) has announced that the geology intersected a drill hole at its Red Hill property in Nevada is relatively close to that predicted.
The gold exploration company said assay results from the hole revealed several intervals of anomalous gold values, the most significant of which is 0.013 to 0.677 grams per tonne (g/t) gold at a depth of 1570 to 1645 feet that averages 0.091 g/t gold.
"The geological features encountered in the drill hole confirms that we are on the right path with the exploration model," NuLegacy Gold director, exploration Roger Steininger said in a statement.
"Once the supporting geochemical data is received a more instructive geological representation will be available and allow for a reexamination of the Mid-Rife target concept," he added.
NuLegacy noted the Migo fault is located as projected, and it intersected 56.4 meters of Devonian Wenban5 formation thickness starting in the hanging wall within the targeted fault corridor.
The company added that the geology intersected directly under the volcanics was lower in the section, suggesting bedding dips are steeper than anticipated between the Iceberg Corridor and the Mid-Rift target, possibly indicating a local anticline that could enhance the target.
NuLegacy Gold’s focus is discovering a high-grade Carlin-style gold deposit on its flagship Red Hill Property in Nevada’s Cortez gold trend, directly on trend and adjacent to three, multi-million-ounce Carlin-type gold deposits.