- Write by:
-
Tuesday, December 29, 2020 - 11:51:20 AM
-
549 Visit
-
Print
Mining News Pro - U.S. Gold Corp. announced Monday additional results of the recent 29 hole drilling program for its CK Gold Project, an advanced stage gold and copper exploration project located near Cheyenne, Wyoming.
The CK Gold Project deposit is a development stage, large-tonnage, gold-copper deposit with high-grade mineralization exposed at the surface surrounded by a large, low-grade zone with potential for expanding resources. The project’s main zone deposit provides a NI 43-101 compliant resource at 926,000 Measured and Indicated oz Au and 223mm lbs Cu and 174,000 Inferred oz Au, 62.5mm lbs Cu.
The miner reported 176.8 meters (600 feet) of continuous gold, copper and silver mineralization with an average gold equivalent grade of 1.003 g/t.
Hole CK20-02c shows continuous gold and copper grades for the length of the hole with better grades near surface than the neighboring hole, the company said.
“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,” George Bee, U.S. Gold Corp CEO said in a media release.
Firstly, the continuous nature of the mineralization 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,” Bee said.
“This has a very beneficial effect on project economics compared to most other projects where significant costs are incurred pre-stripping waste material.”
U.S Gold Corp’s shares were up 4.5% at Monday’s close. The company has a $79 million market capitalization.
Short Link:
https://www.miningnews.ir/En/News/609870
![Codelco reaches agreement with Andina mine workers](/Incsys/Photo.aspx?image=/Uploads/News/20240615010245937.jpeg&width=236&height=180)
Chilean state-run miner Codelco said on Friday that it had reached a collective contract agreement with the union ...
![China’s central bank paused gold purchases in May after 18 months of buying](/Incsys/Photo.aspx?image=/Uploads/News/20240615005941412.jpg&width=236&height=180)
China’s central bank paused gold purchases to its reserves in May, when spot gold prices hit a record high, after 18 ...
![Zambia sees KoBold spending $2.3 billion on giant copper mine](/Incsys/Photo.aspx?image=/Uploads/News/20240615005353455.jpg&width=236&height=180)
KoBold Metals, the Bill Gates-backed mining exploration company, could spend $2.3 billion to build a major new copper ...
![Hedge funds Andurand and Rokos took big copper bets before spike](/Incsys/Photo.aspx?image=/Uploads/News/20240615003756190.jpeg&width=236&height=180)
Rokos Capital Management and Andurand Capital Management have been prominent among hedge funds piling into the copper ...
![Gold price falls most in two years on jobs data, China buying pause](/Incsys/Photo.aspx?image=/Uploads/News/20240615003613938.jpeg&width=236&height=180)
Gold fell the most in more than two years as surprise strength in a key US jobs report dashed hopes that the Federal ...
![Global gold ETFs saw first inflows in a year in May, says WGC](/Incsys/Photo.aspx?image=/Uploads/News/20240615001925985.jpg&width=236&height=180)
Global physically backed gold exchange traded funds (ETFs) attracted their first inflows in May after a year, powered by ...
![New copper fund revives controversial product](/Incsys/Photo.aspx?image=/Uploads/News/20240615001825885.jpeg&width=236&height=180)
Sprott Inc. has launched a $100 million fund that will buy and hold physical copper, marking a comeback for a class of ...
![Copper’s spike isn’t justified by fundamentals, Trafigura says](/Incsys/Photo.aspx?image=/Uploads/News/20240615001710817.jpg&width=236&height=180)
Copper’s recent surge to a record wasn’t justified by real-world supply and demand, according to Trafigura Group — the ...
![Opening of new mines boosts Ivory Coast 2023 gold output](/Incsys/Photo.aspx?image=/Uploads/News/20240615001311063.jpg&width=236&height=180)
Ivory Coast’s gold output hit a record high in 2023, helped by the opening of new mines, and will continue to grow ...
No comments have been posted yet ...