Skip Navigation Links

Bookmark and Share
Interview with Dr. Roger Steininger, Chief Geo-Science Officer of NuLegacy Gold Corporation (TSX-V: NUG, OTC: NULGF): A Nevada-Based Exploration Company Expanding its Near-Surface Iceberg Oxide Gold Deposit Next to Barrick Gold's Multi-Million Ounce Goldrush Deposit

on 11/1/2016
NuLegacy Gold Corporation (TSX-V: NUG, OTC: NULGF) is a Nevada-based exploration company focused on expanding its near-surface Iceberg oxide gold deposit located in the heart of Nevada's prolific Cortez Trend right next to Barrick Gold's multi-million ounce Goldrush deposit. According to Dr. Roger Steininger, CGO Chief Geo-science Officer of NuLegacy Gold, “We have started to outline the gold deposit that we call Iceberg, and our drilling this year has focused on expanding the footprint of the mineralization at Iceberg. We've completed just over 30 holes and we'll drill another 10 or so before winter sets in, focused primarily on the Iceberg Deposit, and expanding its footprint.” Dr. Steininger continues, with a strong board and exploration team, a property positioned in one of the premier gold trends in the world and good support from companies like Barrick and Oceana, NuLegacy Gold provides an opportunity to get on the ground floor of at least one significant gold discovery, most likely two.

Dr. Allen Alper: This is Dr. Allen Alper, Editor-in-chief of Metals News, interviewing Dr. Roger Steininger, CGO Chief Geo-science Officer of NuLegacy Gold Corporation. I'm eager to talk with you. You have a great reputation, a great understanding of the geology of Nevada, how to find gold and how to develop it. Could you tell me a little bit about NuLegacy Gold and why it's of interest?

Dr. Roger Steininger: Well, Albert Matter (Chairman) and I formed the company in 2009 and we brought James Anderson (CEO) in a little later to help us with the company. The original goal was to prospect for good properties in Nevada, Nevada being the fifth largest gold-producing region in the world, and a stable environmental and government region with good infrastructure. We thought that was a good place to be exploring for large gold systems, so we went through several properties, got the opportunity to pick up the Iceberg ground in the Cortez Trend, and acquired it.

In 2010 NuLegacy did a deal with Barrick Gold, in which we spent $5,000,000 over five years to earn a 70% interest. We offered Barrick stock for their 30%, which they took, and we acquired 100% of the property in one of the premier locations in Nevada. Since 2010 we've been exploring, and finding gold mineralization that is the Iceberg Gold Deposit.

Dr. Allen Alper: That's excellent! Could you tell me why the Cortez Trend is so important?

Dr. Roger Steininger: Starting in 1989, I drilled the first holes on what became the Pipeline gold deposit, for one of my clients at the time. It contained over 20 million ounces of gold in the Cortez area and turned into a premier gold district. Pipeline was followed by the discovery of Cortez Hills, and more recently, the discovery of Goldrush, which are all Barrick's operations. There are now over 50,000,000 ounces of gold identified or mined in this segment of the Battle Mountain Eureka trend. It's turning into one of the premier gold regions in Nevada. NuLegacy and the Iceberg Deposit are part of that.

Dr. Allen Alper: Could you tell our readers a little bit about how gold formed in that area, why it's so concentrated?

Dr. Roger Steininger: That's a good question, and one that is hotly debated in the geological community. What we're dealing with are Carlin-type gold deposits. These are large disseminated gold mineralization in favorable host rocks, that form large blankets, commonly with higher-grade cores, surrounded by modest-grade material that form these large bulk mineable deposits that we call Carlin-type gold deposits. They can be near the surface, where they're oxidized and amenable to mining and heap leaching, and they can extend to depth where they are sulfide bearing, and require autoclave and roasters to recover the gold. The gold grades are sufficient to the point where they are very economical to mine.

Dr. Allen Alper: That's very interesting. Could you tell me what your NuLegacy plans are for the rest of the year and going into 2017?

Dr. Roger Steininger: We have started to outline the Iceberg gold deposit, and our drilling this year has focused on expanding the footprint of the mineralization at Iceberg. We've completed just over 30 holes and we'll drill another 10, or so, before winter sets in, focused primarily on the Iceberg Deposit.

On the 38 square miles of property, of which we own 100%, we've developed several other targets, two of which, Jasperoid Basin and VIO, are essentially un-drilled. We just announced the results of two drill holes on the Avocado target, which is a deeper sulfide deposit. Both holes have significant mineralization. My initial interpretation is that this a second discovery of a Carlin-type gold system on the property, in addition to Iceberg.

Next year, we plan to continue drilling on the Iceberg deposit to expand it. We'll do significant drilling on the Avocado target to start the definition of its size and grade, and then do some drilling in the VIO and Jasperoid Basin targets. Those plans are just being developed now and will be enhanced with the results of all the 2016 drilling.

Dr. Allen Alper: Could you tell me a bit more about yourself, your team, and your board?

Dr. Roger Steininger: We have a strong geology team here in Nevada. I have a Ph.D. in Geology from Colorado State University, and have approximately 50 years mineral exploration and mine development geological background. I have been involved in several discoveries, the most significant of which is Pipeline. Tom Roman has just joined us in the last few months as Exploration Manager for Nevada. He is leading the team of three other geologists to continue to develop the Iceberg Gold Deposit and the rest of the property.

Our board is made up of five people. Albert Matter, James Anderson, and myself are on the NuLegacy team. We have three outside directors. Alex Davidson, who was with Barrick for a long time. Well-known explorer, geologist. Rob Krcmarov, who is VP of Exploration and Growth, Barrick Gold, has joined our board as a result of a purchase of Barrick's 30% interest and Richard Wells, with Waterton Global Resources, are the three outside directors.

We have a strong exploration team. It's well-founded in Nevada geology, Carlin-type gold deposits, and a strong board, both insiders and our independents, who have a strong background in gold exploration and Nevada Geology.

Dr. Allen Alper: Sounds like a very sophisticated and knowledgeable gold exploration team. Could you tell me more about the share structure, capital structure, and finances?

Dr. Roger Steininger: We have roughly 273,000,000 shares outstanding, warrants and options would result in, if exercised, about 323,000,000 shares total. We have roughly $13,000,000 Canadian cash in a treasury now. A strong treasury allows us to expand our exploration activities this year and next year.

Dr. Roger Steininger: Our property is positioned in one of the premier gold trends in the world, and certainly in Nevada. We're focused on finding gold mineralization. We have a solid deposit in Iceberg. We've just identifying a second Carlin-type gold deposit at Avocado. We'll be drilling those two going forward. We have some good support from people like Barrick and Oceana, who are both significant shareholders and miners.

Dr. Roger Steininger: I think one of the strengths of NuLegacy, in addition to its people, is the fact that we're just focused on the Iceberg area, and not trying to do too many things with too small a staff. The focus is on Iceberg, developing the Iceberg deposit, exploring the Avocado deposit, to see how large and what grade they are, and testing the other nearby prospects, so we're very focused on what we're doing in a great part of the world, and having success at finding gold.

Roger Steininger, Director, CGO

Disclaimer | Terms Of Use And Privacy Statement

© Metals News. All rights reserved.