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U.S. Gold Corp. receives Bureau of Land Management approval

Published by
Global Mining Review,


U.S. Gold Corp., a gold exploration and development company, has reported that it has received confirmation from the Bureau of Land Management (BLM) that it accepted additional bonding for a further 50 acres of disturbance under its effective Plan of Operations (POO), and as a result has announced an update for its potential 2021 summer exploration programme at its 20 mile2 Keystone project, located in Nevada's Cortez Trend, USA. This programme will potentially test several drill targets in areas previously untested and is intended to follow up on encouraging preliminary results from previous years' drilling. Upon commencement, exploration is planned to pursue Carlin-type gold deposits in a variety of settings within the broader Keystone land package.

This additional 50 acres will allow access to several areas of the project that were not accessible in past exploration programmes. The Keystone project consists of mountainous terrain which was snow covered until last week making it prohibitive to access the property. The company plans to clean up the access roads to gain safe entry.

U.S. Gold Corp. has received initial interest in the Keystone project from a variety of industry participants. The company has set up an internal data room with detailed technical information that interested parties can access after signing a confidentiality agreement. As soon as access is possible throughout the project, further due diligence site visits will be conducted. Potential joint ventures and opportunities will continually be assessed by senior management and the board to try and maximise the exploration potential of this project.

Ken Coleman, U.S. Gold Corp.'s Chief Geologist, stated: "We look forward to accessing the property and assessing our Keystone targets in the summer of 2021. The work we have completed since 2016 has led to drilling the best hole to date at Keystone in 2019, Key19-05rc, in the Nina Skarn target area. Planned drilling in 2021 is expected to focus on the Sophia and Greenstone Gulch target areas, with a single hole at Tip Top to explore the Wenban 5 at depth to the east of previous drilling. Further drilling of the Nina Skarn and Keystone Skarn targets will take place once the Carlin-type targets at Sophia and Greenstone Gulch have been properly assessed."

Coleman continued: "Our entire team is very much looking forward to the commencement of the 2021 Keystone drilling season, pending the property becoming accessible, now that the BLM approvals and cultural surveys have been completed. We are waiting for the snow to melt and the property to dry out to allow access. All of us were encouraged with our previous drilling results and feel strongly that additional exploration efforts are warranted in select target areas. Extensive ongoing analysis has brought us to this point, and we are excited to continue to test Keystone's potential. Encountering the strongest, thickest gold mineralisation, in the Nina Skarn target, has demonstrated the presence of a strong, gold-bearing Eocene magmatic-hydrothermal system at Keystone."

For the 2021 planned summer exploration programme, multiple angled and vertical drill holes are proposed within three high-potential target areas of Keystone. Planned drilling is expected to be composed of a mix of reverse circulation (RC) and core, especially within the Sophia target area, where the most encouraging drill results are associated with extensive void development in Lower Plate rocks. These areas include Sophia, Greenstone Gulch and Tip Top.

George Bee, President and CEO, added: "Our 2021 Keystone summer exploration programme will be a well-thought out and promising effort in hopes of discovering the next high-grade gold deposit on the Cortez Trend. The project, which is a culmination of several years of hard work, shows tremendous potential. A new, high-grade discovery could be a game-changer and provide real value to shareholders and we hope this is our year for discovery success."

Read the article online at: https://www.globalminingreview.com/exploration-development/21052021/us-gold-corp-receives-bureau-of-land-management-approval/

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