NuLegacy Gold (NUG.V) has discovered a thick high-grade gold zone at the Serena area, where the drill bit intersected a zone which is believed to be 8.7 meters containing 16.92 g/t gold, within a broader interval of 22.1 meters containing almost 6.6 g/t gold.
This isn’t just ‘another discovery’, as the mineralization encountered at the Serena zone appears to be very similar to what Barrick Gold (ABX, ABX.TO) has discovered at the other side of the valley. This confirms NuLegacy’s new direction on the exploration front as the company has been tracing mineralizing low angle fault structures to the point where they intercept the best stratigraphic host rocks (in this case, the Wenban zone). This will put NuLegacy in a position to pursue these recent discoveries at Serena (where a previous hole intersected 15 meters of 3.27 g/t gold).
NuLegacy is sitting on something really interesting, and now it’s up to its technical team to design the next drill program to continue to chase these high-grade gold intervals.