NuLegacy Gold Corporation reported gold assays from the remaining four core holes (RHB14-31 to RHB14-34) of the seven drilled during the fall 2014 exploration program on the Iceberg gold deposit in the Cortez gold-trend of Nevada, USA. Drilling continues to identify significant gold in the older overlying volcanics, as well as the principal near-surface gold-bearing Devonian carbonate contact horizons. While core drilling has succeeded in providing a more accurate and higher grade to the Iceberg gold deposit, it is more than twice the cost per foot as reverse circulation drilling.

It also takes considerably longer to drill and assay a core hole than a reverse circulation hole, as the core must first be split (the length of it sawn in half) with one half then ground into a pulp before assaying can commence, whereas the chips from the reverse circulation drilling can be directly assayed. Going forward, the spring program will revert to predominantly reverse circulation drilling. At less than half the cost per hole, reverse circulation drilling will result in more than twice as many holes in about half as much time, thus providing many more opportunities for discovering additional gold during the 2015 exploration program.

Assays for the remaining four reverse circulation holes are anticipated over the next several weeks, and will be reported as processed by NuLegacy's geological team. All the assays will be integrated into the Iceberg deposit's exploration model and, together with the results of the gravity survey just completed over the entire Iceberg deposit, will establish drill targets for the spring 2015 drilling program.