NuLegacy Gold Corporation is a Nevada based exploration company focused on delineating its near-surface Iceberg oxide gold deposit and finding the deeper higher grade gold core usually associated with these oxide deposits in Carlin-type systems.
The Iceberg deposit is located on 60 square km optioned1 from Barrick Gold Corporation in the heart of the prolific Cortez trend of Nevada. The geology is similar to that of Barrick Gold's adjacent on-going multi-million ounce Goldrush gold discovery. To date NuLegacy has identified sufficient favorable geology and extensions to indicate a potential exploration target of 90 to 110 million tonnes grading between 0.70 g/t and 1.00 g/t of gold2.
NuLegacy Gold plans on spending $2.9 million over the next 18 - 20 months to complete earning a 70% working interest in the Iceberg while expanding its gold mineralization to a targeted 'threshold' resource of at least 1.5 million ounces of gold3.
NuLegacy has identified three additional highly prospective Carlin-type gold-bearing systems on the property. All four systems have geology similar to that of the three major Barrick owned Carlin-type gold deposits of the Cortez trend, which produce in excess of 1.2 million ounces per year4.