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Below is our recent interview with James Anderson, CEO at Nulegacy Gold Corporation:
Q: NuLegacy announced some drill results at the end of June – how does that news expand your deposit?
A: Last summer we made a new discovery on our Red Hill property in Nevada that we call the Serena zone, with an initial drill hole that ran 50.3m of 1.0 g/t gold. It was a 375m step out to the west of our north zone, and we spent last fall expanding on the discovery, and connecting it back toward our North zone. This first result of the 2018 season is 51.0m of 1.47 g/t gold including a higher grade interval of 15.2m of 3.27 g/t gold. So as we move to north of our Serena discovery, the grade seems to be getting stronger. We are going to try to follow that mineralization all the way to our Avocado area – which is 2km to the north.
Q: You have a very impressive shareholder registry. Can you detail some of the groups that currently own your shares?
A: We have very supportive shareholders – both large and small. Our largest shareholders are OceanaGold, the Australian gold mining company; Barrick Gold, the world’s largest gold mining company; and the Tocqueville Gold Fund from New York. I think it is a great comment on what people think are the possibilities of us finding the next major gold deposit in this part of Nevada.
Q: Just as impressive are the people behind your company – could you comment on this as well?
A: We have a team of experienced professionals filling all of the roles in our company. As examples, on our Board of Directors sit three senior ex-Barrick people. Alex Davidson was head of global exploration for Barrick; Ed Cope was head of North American exploration for Barrick, and based in Elko Nevada near where our project is located; And Alan Hill built a number of Barrick’s biggest and best mines all over the world. Our most senior geologists Derick Unger and Charles Weakly have each spent many years at Newmont and Barrick respectively. And our Chairman, Albert Matter was instrumental in establishing Alamos Gold into a mid-tier gold producer. The industry experience at NuLegacy is remarkable for a small company.
Q: You have recently raised some more money. How do your finances look now?
A: We recently announced closing a first tranche of $1.7 million dollars in new equity financing – as part of a $3.0 million dollar private placement. We expect to announce closing the balance shortly. This will leave our treasury with over $8.0 million, which will give us the funds to continue to explore, to drill aggressively, and find lots more gold well into 2019.
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Q: And with that full treasury, will there be a lot of exploration news through the fall?
A: We have drill holes out for assay right now. We will start drilling again with two drill rigs in September and keep drilling all the way until Christmas – so there will be ample news on all fronts well into the new year.
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