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U.S. Gold Corp. announces additional drilling results

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Global Mining Review,

U.S. Gold Corp., a gold exploration and development company, has announced additional results of the recent 29-hole drilling programme for its CK Gold Project, an advanced stage gold and copper exploration and development project located just outside of Cheyenne, Wyoming.

A single 4 ft sample and a single 5 ft sample from hole CK20-01c and 02c, respectively, was excluded from average grade calculations, as they were misplaced. These samples have been located and when assayed will be added to the above released results, which will result in a minor adjustment of the overall grades of holes 1 and 2. These changes will be reflected in the above table in future press releases once they are received.

Grades quoted represent contained metal as assayed. The calculation of equivalent gold grade assumes the spot prices for gold, silver and copper as quoted at on 10 December 2020 and does not account for metallurgical recoveries. Future press releases will utilise these same metal prices for all gold-equivalent value calculations.

George Bee, President and CEO of U.S. Gold Corp. commented: "With hole CK20-02c, the second of seven holes within the resource designed to collect metallurgical samples, again we confirm two key aspects of the CK Gold resource. Firstly, the continuous nature of the mineralisation with attractive grades starting at surface. Secondly, looking towards project development if our PFS and FS show promise, a project that we believe should produce payable material at the start of mine operations without the common delays and up-front costs associated with pre-stripping waste. This has a very beneficial effect on project economics compared to most other projects where significant costs are incurred pre-stripping waste material in order to access mineralised material, enabling the company to realise revenue quicker without the additional cost of mining excess overburden."

Comments on hole CK20-02c results:

  • The hole shows continuous gold and copper grades for the length of the hole with better grades near surface than the neighbouring hole, CK20-01c.
  • The hole was terminated at its planned depth in lower-grade mineralisation at the edge of the deposit as known; however, the limits of mineralisation were not tested as this hole was designed to collect a representative sample for metallurgical testing on a priority basis.
  • Both holes 1 and 2 ended in granodiorite that did not have the appearance of being especially mineralised, but still held mineralisation.

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US mining news Copper mining news Gold mining news