Reno, NV - NuLegacy Gold Corporation reports that it has received the drill permits for the second-phase drill program to follow-up the down-dip extension of the recently discovered deposit (NR June 13, 2012) in the Central Mineralized Zone (CMZ), located on the Red Hill Gold Project, Nevada.
Drilling on the CMZ - one of four Carlin-type gold-bearing systems identified to date on our Red Hill Project - is scheduled to start mid-October, 2012.
The Red Hill Project is 'on trend' with the three existing multi-million ounce Carlin-type gold deposits in the Cortez Trend that produce in excess of 1 million ounces of gold per year for Barrick Gold Corporation at a reported cash operating cost of ~ $250/ounce. The Red Hill Project is directly adjacent to Barrick's ongoing Goldrush discovery with an indicated and inferred resource of 7 million ounces of gold reported to date and 12 rigs drilling.
Since discovering the mineralized zone in June we have re-logg