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Barrick Neighbour NuLegacy Gold Looking to Strike it Big Too

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A second junior miner is hoping the recent discovery of large gold deposits in Nevada by Barrick Gold (ABX.TO) eventually finds its way onto neighbouring property too.

NuLegacy Gold Corp. (NUG.V) currently is developing the Red Hill prospect adjacent to the Cortez property where drilling by Barrick identified two zones of gold mineralization along a seven-kilometer long trend. NuLegacy optioned Red Hill two years ago, consolidating four properties straddling the Battle Mountain-Eureka gold trend immediately southeast of the Cortez discoveries.

Proximity was a winning strategy Thursday for Rye Patch Gold Corp (RPM-V), which is working the Golden Gate Pass project directly south of the Cortez Hills mine. Rye Patch shares closed up 21 percent yesterday, gaining 8 cents to finish at 46 cents each. NuLegacy stock advanced 1 cent to 23 cents a share on Thursday.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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