RENO, NEVADA -- (Marketwire) -- 12/18/12 -- NuLegacy Gold Corporation (TSX VENTURE: NUG) reports results and analysis of the six reverse-circulation holes recently completed in the Iceberg Deposit, located in the Central Mineralized Zone ("CMZ"), of the Red Hill Project, Nevada.
"These results have extended the higher grade oxidized gold structure of the Iceberg to 360+ meters and established that the CMZ clearly has the potential for significant expansion," says Dr. Roger Steininger, NuLegacy's COO. "The alignment of the holes confirms that the higher grade mineralization has the classic Cortez northwesterly strike and projects further north into an area of limited and shallow historic drilling. We are eager to begin the next drill program early in 2013 with 10 to 12 widely spaced holes along this northwest strike in search of the very high grade cores that inevitably are the engines creating these Carlin-type gold deposits."
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Five of the six holes completed in the Iceberg gold deposit were stepped out to the north of the initial discovery hole (RHB-006 with 27.4 meters of 1.40 g/T gold as reported June, 2012) with the sixth hole drilled vertically to the south. The five northern holes were angled to the east or west at the confluence of two structures to determine which of these two governs the gold deposition in the Iceberg deposit.
Three of the six holes (Table 1 below) have confirmed the continuity of the Iceberg deposit extending the zone of interest an additional 110 meters to the north-west, while the remaining three holes suggest more limited possibilities to the east and south. The principal horizon of higher grade oxide gold mineralization now extends over 360 meters (1,200 ft.) in silicified and decalcified Devonian carbonates.
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Hole RHB-008 returned several intercepts of gold with the best being 28.9 meters (95 ft.) of 1.01 grams starting at 131.1m within 47.2 m of 0.73 g/T. It was drilled to the west at -60 degrees, 80 meters (265 ft.) directly north of the discovery hole RHB-006. Hole RHB-009 was drilled from the same site to the east at -60 degrees and has a lengthy near-surface mineralized intercept of 38.2 meters (125 ft.) of 0.42 g/T. Hole RHB-010, located 30 meters directly north of RHB-008 was drilled to the west at -60 degrees and appears to be slightly offset to the east of the more favorable northwest structure. It returned four intercepts of gold: 15.2 meters of 0.63 g/T, 10.6 meters of 0.25 g/T, 30.5 meters of 0.26 g/T and 32.0 meters of 0.2 g/T. The complete set of assays is posted at http://nulegacygold.com/i/pdf/Table-1.pdf.
===========================================================================Hole From To LengthNumber (m) (m) (m) Gold Grade--------------------------------------------------------------------------- Table 1: Central Mineralized Zone: Iceberg Deposit, Dec 18, 2012---------------------------------------------------------------------------RHB12-008 36.6 42.7 6.1 0.26 g/T--------------------------------------------------------------------------- and 120.4 167.6 47.2 0.73 g/T--------------------------------------------------------------------------- Including 131.1 160.0 28.9 1.01 g/T--------------------------------------------------------------------------- and 208.8 227.1 18.3 0.12 g/T---------------------------------------------------------------------------RHB12-009 29.0 67.1 38.1 0.42 g/T---------------------------------------------------------------------------RHB12-010 36.6 51.8 15.2 0.63 g/T--------------------------------------------------------------------------- Including 44.2 48.8 4.6 1.20 g/T--------------------------------------------------------------------------- and 106.7 117.3 10.6 0.25 g/T--------------------------------------------------------------------------- and 134.1 164.6 30.5 0.26 g/T--------------------------------------------------------------------------- and 201.2 233.2 32.0 0.20 g/T---------------------------------------------------------------------------NB: The foregoing intercepts are not necessarily true widths as at this time there is insufficient data with respect to the shape of the mineralization to calculate its true orientation in space.===========================================================================
