NuLegacy Gold Corporation (TSXV: NUG) is a gold exploration and acquisition firm.
The company operates through its principal asset, the Red Hill Property.
NuLegacy’s shares are listed on the TSX Venture Exchange under the symbol ‘NUG’.
Founders Rouger Steininger and Albert Matter acquired the red hill property from Barrick Gold.
The firm, founded in 2010, claims to have undertaken additional surveys and wildcat drilling, which identified rift anticline and carlin type oxide deposits at the property.
In 2019, the mining company says that break through analysis affirmed stratigraphic connectors between NUG’s rift anticline gold systems and Barrick Gold’s rush. In 2021, the company intends to conduct spring summer drill program to test the previous break through analysis.
The company claims that its flagship asset lies in the politically safest gold deposits in the world: Nevada’s Cortez trend. The mining area comprises several high-grade underground mines and the regulatory system is known for recent examples of rapid permitting.
The jurisdiction has an efficient infrastructure that consists of roads, drillers, hotels, supplies and assayers, the mineral exploration firm claims. It further says that the region has a favorable climate with year-round access to huge carlin type gold deposits.
Nevada’s high-grade gold trends include six of the 30 largest gold mines in the world, each mine with gold reserves of more than 10 million ounces.
In addition, there are four gold mines in Carlin Camp and three in Cortez Camp.
The mines in the Carlin camp are as follows:
• Gold quarry
The Cortez camp hosts the following mines:
• Cortez hills
• Gold rush
NuLegacy’s 108-square kilometer red hill property lie in the Cortez trend and is in close proximity to Barrick Gold’s mining properties.
The ownership distribution of the firm consists of the following entities:
• Oceana Gold
• Barrick Gold
• Crescat Capital LLC
• Sprott Gold Equity Fund
• Mackenzie Investment Funds
• Insiders and principles