Miranda Gold's Coal Canyon Project Added to the Red Hill Exploration Funding Agreement
Original announcement by tmx on
- Company
- NuLegacy Gold Corporation
- Ticker
- NUG
- Exchange
- TSX
- Region
- Nevada
- Primary commodity
- Gold
- Secondary commodities
- Arsenic, Antimony
- Document categories
- Drill results, Agreement transaction
- Extracted
- 2026-09-16 15:20:01 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
NuLegacy Gold Corporation has amended its exploration funding agreement with Miranda Gold Corp to include the Coal Canyon project. The amendment increases the total exploration expenditure commitment to US$5.5 million over four years and includes a commitment to drill three 1,500 ft holes on Coal Canyon by the end of 2013.
Reasoning: The amendment expands the existing exploration agreement to include the Coal Canyon project, increasing the total spend commitment to US$5.5 million and adding a specific drilling requirement.
Positive factors
- Expansion of exploration funding agreement
- Increased earn-in commitment
- District-scale consolidation
- Proximity to high-grade Cortez Hills deposit
Facts used in scoring: 3
Classification and evidence
Nearology Playneutral
Value premise rests on proximity to a known deposit rather than own results.
Why it applies: Project is located 10 mi south of Barrick's Cortez Hills gold deposit (+13 M oz).
Evidence · text
“The property is 10 mi (16 km) south of Barrick's Cortez Hills gold deposit (+13 M oz)”
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: Release includes sign-off by a Qualified Person (Ken Cunningham, P.Geo).
Evidence · text
“verified by President & CEO Ken Cunningham, P.Geo, MSc. Geology and Qualified Person”
Extracted facts
Stored fact records: 2. Some facts used in scoring do not have a stored record.
Drill Results (2)
MCC-4Coal Canyon · goldGrade: 0.392Grade Unit: g/tIntercept: 3 mView all detailsHide details
Identity
- Hole ID
- MCC-4
- Project
- Coal Canyon
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- usa_nv
- Ticker
- NUG
Geometry
- Grade
- 0.392
- Grade Unit
- g/t
- Intercept
- 3 m
- From
- 298.8 m
- To
- 301.8 m
- Intercept Depth
- 298.8 m
Classification
- Sample Type
- drill
- Group ID
- MCC-4:298.8-301.8
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2011-01-05T00:00:00.000Z
Reasoning: Historical intercept reported for context; grades are very low.
Evidence · text
“drill hole MCC-4 which intersected 10 ft of 0.011 oz Au/t from 980 to 990 ft (3.0 m of 0.392 g Au/t from 298.8 to 301.8 m)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
MCC-4Coal Canyon · goldGrade: 0.14Grade Unit: g/tIntercept: 70.1 mView all detailsHide details
Identity
- Hole ID
- MCC-4
- Project
- Coal Canyon
- Commodity
- gold
- Region
- usa_nv
- Reported Region
- usa_nv
- Ticker
- NUG
Geometry
- Grade
- 0.14
- Grade Unit
- g/t
- Intercept
- 70.1 m
- From
- 295.7 m
- To
- 365.8 m
- Intercept Depth
- 295.7 m
Classification
- Sample Type
- drill
- Group ID
- MCC-4:295.7-365.8
Review
- Needs Review
- No
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2011-01-05T00:00:00.000Z
Reasoning: Historical intercept reported for context; grades are very low.
Evidence · text
“returned 230 ft of 0.004 oz Au/t from 970 to 1,200 ft (70.1 m of 0.140 g Au/t from 295.7 to 365.8 m)”
Tags used in scoring
No QA/QC Disclosurenegative
Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.
Why it applies: qaqc_disclosed is not true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.