NuLegacy Gold Corporation’s (TSX-V: NUG) (OTC: NULGF) Nevada exploration program didn’t go very smoothly last year.
The junior announced Thursday that it was suspending operations at its Red Hill property over a lack of feasibility and investor support. The last hole drilled there in 2023 yielded no significant intervals of gold.
NuLegacy’s shares took a sharp decline Friday following the news and are worth C$0.015. The miner currently has a C$5 million market cap, approximately.
The company paid Proactive Investors North America C$44,100 for one year of media coverage in October last year. NuLegacy hopes to increase trading volume as a result of the publicity.
Red Hill spans 108 square kilometres and is situated next to Carlin-style deposits being developed by Nevada Gold Mines (NGM).
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