Drilling Commences On Rift Anticline Target

RENO, NV - NuLegacy Gold Corporation reported that drilling has commenced on the highly prospective Rift Anticline target at its flagship, 100% controlled1, 108-square-kilometer Red Hill gold property. The Red Hill property is located in Nevada's prolific Cortez gold trend, adjacent to three of the world’s largest high-grade Carlin-type gold deposits I, in one of the world's premier gold-mining jurisdictions.

The Rift Anticline is a buried anticline of Paleozoic carbonates identified as favorable for hosting large, high-grade Carlin-style gold deposits such as the 10 million-ounce 10 gram/tonne Goldrush deposit on trend 10 km northwest across West Pine (rift) Valley.

Mark Bradley, Vice-President Exploration, said, "Our advanced structural modeling of the Rift Anticline is a very powerful exploration tool developed under the leadership of our District Geologist Charles Weakly, permitting us to prioritize our initial drilling efforts within the large, 5-6 sq. km Rift Anticline target area thus optimizing chances for early discovery."

The Company has substantially advanced the understanding of the Carlin-style gold systems of Nevada. Modeling of the geochemical, geophysical and drill data of the Rift Anticline has evolved to being capable of projecting and targeting the probable gold-bearing Wenban Unit 5 horizon and major mineralization-controlling structures under the volcanic cover of the Rift Anticline.

Given the folded anticlinal nature of the carbonate sequence and variable depth of overburden, the favorable Wenban Unit 5 horizon is projected to lie at depths from 275 to 450 meters below the surface with a width of 750 to 1,250 meters. The Wenban 5 horizon is expected to have a thickness of between 75 to 150+ meters depending on the location.

A core rig is drilling hole RA20-01 as part of the initial five-hole test of these projections. RA20-01 is one of a three-hole fence extending ~500 meters east-west across the northern Rift Anticline; the two additional holes are targeted approximately 600 meters south forming a second fence ~600 meters across the north northwest-oriented strike of the Rift Anticline, testing the northernmost one-quarter of the Rift Anticline.

These five holes will reconnoitre the most northerly portion of the currently projected 5 sq. km Rift Anticline target, which is still open on both ends. Once width, average thickness and grade are established some preliminary estimates of the potential volume of the favorable gold bearing Wenban Unit 5 can be made.

A total of 4.6 km of road and 5 drill pads are being completed to accommodate the five holes planned for the fall program in the north of the Rift Anticline to test the crest and both limbs. The balance of the initial 16-hole drill program designed to test the remainder of the northern half of the Rift Anticline is scheduled for completion in the spring of 2021.