Mike Penick joins the geo-team
RENO, Nev., March 21, 2023 (GLOBE NEWSWIRE) -- NuLegacy Gold reports on the second of several new consultancies as part of our strategy to expand our geo-team to increase and capitalize on the values we have established.
We are pleased to welcome Mr. Michael Penick, B.S. Geology, who has joined our team of Carlin-type gold system discovery consultants in developing our 2023 drilling program for our 108 sq. km flagship Red Hill property in Nevada's famed Cortez gold-trend, one of the world's premier gold mining jurisdictions.
Mr. Penick was an integral part of the Exploration team that was responsible for the discovery of the multi-million-ounce Goldrush gold deposit just to the northeast of our Red Hill property1.
Mr. Penick has had a long and successful career in mineral exploration and management in copper, uranium and most particularly gold. Most notably, Mike held numerous positions in Nevada and globally for Barrick Gold, initially as Chief Mine Geologist at the Betze-Post Open Pit Goldstrike Mine where he was responsible for mine geology, geotechnical engineering, and resource modeling activities.
Later, after serving as Geological Services Manager at Kennecott's Bingham Canyon Copper Mine, he held the position of Chief Exploration Geologist for Barrick's Cortez district.
Mike was then promoted to Director-USA Minesite Exploration of numerous Barrick-owned mine camps in the US including the Cortez, Goldstrike, Turquoise Ridge, Bald Mountain and Ruby Hill properties, after which, he became part of Barrick's efforts in exploration support on all global mine sites as Manager-Minex.
Both Nancy Richter, formerly US Exploration Manager, Barrick Gold Exploration Inc., who recently became a consultant to NuLegacy Gold, and our longtime Exploration Manager, Charles Weakly worked under Mike's guidance while at Barrick.
Together they will focus our summer 2023 drilling program and select the 5 or 6 best holes to be drilled initially out of the 25+ possible drill sites that the geo-crew has selected.
The rigorous drill hole selection process, which was started with a geo-technical review session held in Reno March 6-7, is scheduled to be completed by May 8-9 in Elko, (coincident with our touring the property with a number of 'friends of the court') with the intent of making a discovery, or further narrowing the field of opportunity. Preliminary information thereon will be made available shortly.
Drilling and logistical supply contracts are being finalized and a meeting with the assay lab provider is forthcoming. Drilling is still scheduled to commence June 1, 2023 (plus/minus a week), and finish in late-July, with the initial assays for gold in hand for reporting in the second half of August.
The drilling will require financing as our current treasury (~ C $1.8 million) is reserved for maintenance of the Red Hill property and minimal staffing and professional fees as required for executing on the exit strategy – enrolling one of the four or five currently identified and qualified acquirors of the Red Hill property. When appropriate we plan to announce a modest equity unit financing.
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1The Red Hill targets are on trend and adjacentI to three, multi-million ounce Carlin-type gold deposits (the Pipeline, Cortez Hills and Goldrush deposits) which are ranked amongst the world's thirty largest, lowest cost and politically safest gold mines and are three of Nevada Gold Mines' most profitable mines.II
ON BEHALF OF THE BOARD OF NULEGACY GOLD CORPORATION
Albert J. Matter, Chief Executive Officer & CoFounding Director
Tel: +1 (604) 639-3640; Email: albert@nuggold.com
For more information about NuLegacy visit: or
NuLegacy Gold is focused on confirming potential high-grade Carlin-style gold deposits within its flagship 108 sq. km (42 sq. mile) district scale Red Hill Property in the Cortez gold trend of Nevada. The targets are on trend and adjacentI to three, multi-million ounce Carlin-type gold deposits (the Pipeline, Cortez Hills and Goldrush deposits) which are ranked amongst the world's thirty largest, lowest cost and politically safest gold mines and are three of Nevada Gold Mines' most profitable mines.II
I The similarity and proximity of these deposits in the Cortez Trend including Goldrush are not necessarily indicative of the gold mineralization in NuLegacy's Red Hill Property.
II Currently structured as an underground mine Goldrush contains P&P: 7.8 M oz @ 7.29 g/t; M&I: 8.5 M oz @ 7.07 g/t (inclusive of P&P); and Inferred: 4.5 M oz @ 6.0 g/t (as of December 31, 2021). Source: Corporate presentation of Nevada Gold Mines – Goldrush Underground dated September 22, 2022.
Dr. Roger Steininger, a Director of NuLegacy, is a Certified Professional Geologist (CPG 7417) and the qualified person as defined by NI 43-101, Standards of Disclosure for Mineral Projects, responsible for approving the scientific and technical information contained in this news release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Cautionary Statement on Forward-Looking Information: This news release contains forward-looking information and statements under applicable securities laws, which information and/or statements relate to future events or future performance (including, but not limited to, NuLegacy's plans and objectives for expanding its geological team, the prospective nature of the Red Hill Property and its potential for hosting a significant Carlin-style gold deposit; the current modeling and potential future exploration and drill programs for the Red Hill Property including NuLegacy's proposed 2023 drill program and the size, targets, timing and anticipated cost thereof; the existence of potential mineral resources; NuLegacy's proposed future equity financing and the terms, minimum pricing, size and timing thereof, and proposed exit strategy to support further exploration and financing including the sale of the Red Hill Property to, or the merger of the Company with, a producing company and the timing thereof) and reflect management's current expectations and beliefs based on assumptions made by and information currently available to the Company. Readers are cautioned that such forward-looking information and statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of exploration activities and drilling, unanticipated geological, stratigraphic and structural formations, environmental risks, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, delays in receipt of assay results from third party laboratories, inflation, future prices for gold, changes in personnel and other risks in the mining industry. There are no assurances that the Company will successfully complete an equity financing on the terms presently contemplated or at all to raise sufficient funds to carry out the proposed 2023 drill program or engage a third-party producing company to purchase the Red Hill Property or merge with the Company to carry out further exploration and drilling of Red Hill as currently contemplated or at all. Furthermore, there are no known mineral resources or reserves in the Red Hill Property, any proposed exploration programs are exploratory searches for bodies of ore and the presence of gold resources on properties adjacent or near the Red Hill Property including Goldrush and the Cortez Fourmile deposit is not necessarily indicative of the gold mineralization on the Red Hill Property. There is also uncertainty about the continued spread and severity of COVID-19, the ongoing war in Ukraine and rising inflation and interest rates and the impact they will have on the NuLegacy's operations, personnel, supply chains, ability to raise capital, access properties or procure exploration equipment, supplies, contractors and other personnel on a timely basis or at all and economic activity in general. All the forward-looking information and statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at . The forward-looking information and statements in this news release are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law. Accordingly, readers should not place undue reliance on forward-looking information and statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Mike·佩尼克加盟地质队
内华达州里诺,2023年3月21日(环球通讯社)NuLegacy金牌作为我们扩大地缘团队战略的一部分,报道了几家新的咨询公司中的第二家,以增加和利用我们已经建立的价值。
我们很高兴地欢迎B.S.地质学家Michael Penick先生加入我们的卡林型金矿系统发现顾问团队,为我们108平方米的面积制定2023年钻探计划。KM旗舰红山物业位于内华达州著名的Cortez Gold-Trend,世界主要金矿开采管辖区之一。
Penick先生是勘探团队中不可或缺的一员,该团队负责在我们红山地产的东北方向发现数百万盎司的Goldrush金矿1。
佩尼克在铜、铀、尤其是黄金的矿产勘探和管理方面有着长期而成功的职业生涯。最值得注意的是,Mike曾在内华达州和全球巴里克黄金公司担任过多个职位,最初在贝策-波斯特露天金矿担任首席矿山地质师,负责矿山地质、岩土工程和资源建模活动。
后来,在肯纳科特的宾厄姆峡谷铜矿担任地质服务经理后,他担任了巴里克的科尔特兹地区的首席勘探地质学家。
Mike随后被提升到董事美国矿场勘探公司,负责巴里克在美国拥有的多个矿场,包括Cortez、GoldStrike、绿松石山脊、光秃山和红宝石山等矿场,之后,他作为矿场经理参与了巴里克在全球所有矿址的勘探支持工作。
前巴里克黄金勘探公司美国勘探经理南希·里希特最近成为NuLegacy Gold的顾问,以及我们的长期勘探经理查尔斯在巴里克时在Mike的指导下虚弱地工作。
他们将共同关注我们的2023年夏季钻探计划,并从地质工作人员选择的25个以上可能的钻探地点中选择最初要钻探的5到6个最好的孔。
严格的钻孔选择过程始于3月6日至7日在里诺举行的一次岩土技术审查会议,计划于5月8日至9日在埃尔科完成(与我们与一些“法庭之友”一起参观该物业),目的是做出发现,或进一步缩小机会范围。有关的初步资料将於短期内提供。
钻探和后勤供应合同正在敲定,与化验实验室供应商的会议即将举行。钻探仍计划于2023年6月1日开始(正负一周),并于7月下旬完成,初步黄金化验工作将于8月下半月报告。
钻探将需要融资,因为我们目前的资金(约180万加元)预留用于Red Hill物业的维护,以及执行退出战略所需的最低人员和专业费用-招募目前已确定的Red Hill物业的四到五名合格收购人之一。在适当的时候,我们计划宣布适度的股权单位融资。
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1红山的目标是论趋势与毗邻我到三百万盎司卡林型金矿(管道金矿、Cortez Hills金矿和Goldrush金矿)是世界上30个最大、成本最低、政治上最安全的金矿之一,也是内华达州金矿公司利润最高的三个金矿。第二部分:
ONB类EHALF of theB类Oard ofN使用我EGACYG年长的C企业组织
董事联合创始人兼首席执行官阿尔伯特·J·马特
电话:+1(604)639-3640;电子邮件:邮箱:Albert@nuggold.com
有关NuLegacy的更多信息,请访问:或
NuLegacy金牌该公司专注于在其旗舰项目108平方米范围内确认潜在的高品位卡林式金矿。公里(42平方千米位于内华达州Cortez Gold Trend的地区规模的红山地产。目标是论趋势与毗邻我到三百万盎司卡林型金矿(管道金矿、Cortez Hills金矿和Goldrush金矿)是世界上30个最大、成本最低、政治上最安全的金矿之一,也是内华达州金矿公司利润最高的三个金矿。第二部分:
我Cortez趋势中的这些矿床(包括Goldrush)的相似性和邻近性并不一定表明NuLegacy的红山金矿成矿。
第二部分:目前作为地下矿山结构的Goldrush含有P&P:7.8 M oz@7.29 g/t;M&I:8.5 M oz@7.07 g/t(包括P&P);以及推断:4.5 M oz@6.0 g/t(截至2021年12月31日)。资料来源:内华达州金矿公司介绍-金德鲁什地下公司,日期为2022年9月22日。
NuLegacy董事的罗杰·斯泰宁格博士是注册专业地质学家(CPG7417)和NI 43-101定义的合格人员,《矿产项目信息披露标准》负责审批本新闻稿中包含的科技信息。
本新闻稿不构成在美国出售或邀请购买任何证券的要约。这些证券没有,也不会根据1933年美国证券法,经修订的(下称“《美国证券法》“),或任何州证券法,不得在美国境内或为美国人的账户或利益(如美国证券法下的S规则所定义)提供或出售,除非根据美国证券法和适用的州证券法注册,或获得此类注册的豁免。
关于前瞻性信息的警示声明:本新闻稿包含适用证券法下的前瞻性信息和陈述,这些信息和/或陈述与未来事件或未来表现有关(包括但不限于NuLegacy扩大其地质团队的计划和目标、Red Hill财产的潜在性质及其容纳重要的卡林式金矿的潜力;Red Hill财产的当前建模和潜在的未来勘探和钻探计划,包括NuLegacy提议的2023年钻探计划及其规模、目标、时机和预期成本;潜在矿产资源的存在;NuLegacy建议的未来股权融资及其条款、最低定价、规模及时间,以及建议的退出策略以支持进一步勘探及融资,包括向一家生产公司出售Red Hill物业或本公司与该公司合并及其时间),并反映管理层基于本公司作出的假设及目前掌握的资料而作出的当前预期及信念。提醒读者,此类前瞻性信息和表述既不是承诺,也不是担保,会受到风险和不确定性的影响,可能会导致未来结果与预期的结果产生重大差异,这些风险和不确定性包括但不限于市场条件、融资渠道、勘探活动和钻探的实际结果、意想不到的地质、地层和构造构造、环境风险、经营风险、事故、劳工问题、在获得政府批准和许可方面的延误、从第三方实验室收到化验结果的延迟、通货膨胀、黄金未来价格、人员变动以及采矿业的其他风险。不能保证本公司将按目前预期的条款成功完成股权融资,或筹集足够资金执行拟议的2023年钻探计划,或聘请第三方生产公司购买Red Hill物业或与本公司合并,以按当前预期或根本不进行Red Hill的进一步勘探和钻探。此外,Red Hill矿产中没有已知的矿产资源或储量,任何拟议的勘探方案都是对矿体的勘探搜索,在Red Hill矿产附近或附近的矿产上存在黄金资源,包括Goldrush和Cortez Fourmile矿床,并不一定表明Red Hill矿产上的金矿。新冠肺炎的持续蔓延和严重程度、乌克兰持续的战争、不断上升的通胀和利率,以及它们将对NuLegacy的运营、人员、供应链、及时或根本上获得勘探设备、物资、承包商和其他人员的能力以及总体经济活动产生的影响,都存在不确定性。本新闻稿中的所有前瞻性信息和声明均受这些警告性声明和我们在SEDAR网站上提供的持续披露文件中的警告性声明的限制。本新闻稿中的前瞻性信息和陈述是截至本新闻稿之日作出的,除适用法律要求外,公司不承担任何更新或修改它们以反映新事件或新情况的义务。因此,读者不应过分依赖前瞻性信息和陈述。
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