RENO, Nev., Sept. 18, 2018 (GLOBE NEWSWIRE) -- NuLegacy Gold Corporation (NUG.V) (NULGF) reports that Mr. Ed Cope, currently a director of NuLegacy Gold, will join NuLegacy’s management to both oversee exploration efforts and be responsible for property evaluation and acquisition.
Since becoming a NuLegacy Director in January of 2017, Mr. Cope has guided the expansion and development of NuLegacy’s exploration team selecting personnel based on his impressive 30+ years record of success in exploring for gold deposits in North America, principally focused on the ‘elephant sized’ gold deposits of the Carlin and Cortez gold trends of Nevada.
“Few people have the depth of knowledge of the Great Basin region that Ed Cope has. Together with his industry contacts throughout Nevada, Ed has already made a huge impact on NuLegacy, and will now become an integral component of the company’s growth efforts”, said CEO James Anderson.
As VP Exploration for Barrick, Mr. Cope was instrumental in recognizing and attracting the remarkable exploration team that was responsible for the significant growth in Barrick’s Nevada reserves and resources. In 2014, Mr. Cope was, along with his team members, co-recipient of the Prospectors & Developers Association of Canada’s “Thayer Lindsley International Mineral Discovery of the Year” award for the discovery of the 10+ million ounce Goldrush deposit, located adjacent to NuLegacy's Red Hill property.
In conjunction with his appointment to NuLegacy’s management team, Mr. Cope has been granted a stock option to purchase a total of 650,000 common shares of the Company at a price of $0.20 per share for a period of five years, subject to vesting in six equal semi-annual installments commencing on the date of grant.
About NuLegacy Gold Corporation: NuLegacy is a Nevada exploration company focused on discovering additional Carlin-style gold deposits on its premier district scale 98 sq. km (38 sq. mile) Red Hill Project in the prolific Cortez gold trend of Nevada.
To date NuLegacy has discovered the Iceberg Carlin-style gold deposits and has identified several more highly prospective exploration targets that are being drilled this year.
NuLegacy’s Red Hill Project is located on trend and adjacenti to the three multi-million ounce Carlin-type gold deposits (the Pipeline, Cortez Hills and Goldrush deposits) that are amongst Barrick Gold’s largest, lowest cost and politically safest gold minesii.
i The similarity and proximity of these deposits in the Cortez Trend is not necessarily indicative of the gold mineralization in NuLegacy’s Red Hill Project.
ii As extracted from Barrick’s Q4-2013 and Q1-2014 reports. As reported by Barrick, the Goldrush resource contains 8,557,000 indicated ounces of gold within 25.78 million tonnes grading ~10.57 g/t and 1,650,000 inferred ounces within 5.6 million tonnes grading ~9.0 g/t.
On Behalf Of NuLegacy Gold Corporation
James E Anderson, Chief Executive Officer
Derick Unger, NuLegacy’s Chief Geologist is a Certified Professional Geologist (CPG 11927) 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.
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 news release.
This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking 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, actual results of exploration activities, environmental risks, future prices of gold, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, availability of financing and other risks in the mining industry. There are no known resources or reserves in the Red Hill Project and the proposed exploration programs are exploratory searches for commercial bodies of ore. In addition, the presence of gold deposits on properties adjacent or near the Red Hill Project is not necessarily indicative of the gold mineralization on the Red Hill Project. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements 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 under applicable securities legislation.