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U.S. Gold Expanding Wyoming Copper and Gold Projects; Names Francis to Lead its Exploration

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Photo provided by U.S. Gold Corp.

U.S. Gold Corp. (NASDAQ: USAU) continues its expansion of the Copper King (CK) Gold Project’s copper and gold resource in Wyoming and has assembled a team to help with that expansion.

The U.S. Gold Corp. CK Gold Project is located in southeast Wyoming’s Silver Crown mining district. It encompasses 1,120 acres (about 2 square miles), providing the company near-term, low CapEx, open-pit production potential as well as compelling value. Not only is the company thrilled with what it refers to as an ideal geopolitical location in Wyoming, but it lauds the state government for its continued support of project advancement.

U.S. Gold Corp’s CK Gold Project has a Preliminary Economic Assessment (PEA) technical report, completed by Mine Development Associates. It has a portfolio of exploration properties on the Cortez and Carlin Trends in Nevada and the Challis Gold Project in Idaho.

To continue its mining advancement, U.S Gold Corp. has brought in 32-year mining industry professional Kevin Francis as its Vice President, Exploration and Technical Services after serving as a consultant over the past year.

Francis will be working with U.S. Gold on the growing CK Gold Project deposit, which currently 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. In addition, the company continues to develop community and government relations programs to minimize the possibility of any future social challenges.

"I am thrilled to join the U.S. Gold Corp. team at this pivotal time for the CK Gold Project, for a seamless step up in my responsibilities for it and other projects,” Francis said. “I look forward to working with the executive and operating teams and Board to increase shareholder value."

The CK Gold Project PEA resource comprises 120 drill holes totaling 18,105 meters and contains oxide, mixed oxide-sulfide and sulfide rock types. The company commissioned DataMine Associates of Denver to assist in building an expanded exploration model for the project deposit. The model looked more thoroughly at the deposit, especially concerning its boundaries, internal high-grade zones and the other metals of value that have not been previously factored into the deposit’s economics.

The Datamine model results showed that the deposit remains open to the southwest and southeast, appearing to have a curved configuration. The project exploration program is currently being designed on the Datamine study to expand the resource and deposit sizes while advancing to its pre-feasibility study (PFS) level.

The pre-feasibility study (PFS) should be out by the end of the 3rd quarter 2021 (end of September). This report has been a major undertaking to advance the CK Gold Project closer towards a production decision. Fieldwork and drilling in 2020 concentrated on environmental baseline studies, geotechnical studies, metallurgy, hydrology and resource expansion. The PFS will include a new resource estimate for the deposit and an updated economic model. Several institutional gold fund managers invest in exploration companies at the PFS stage and this report could serve as a catalyst for additional institutions to show up in the future shareholder list.

U.S. Gold Corp reports that its 2021 field season work aims to acquire enough data to complete its project permit applications and close gaps in its current data, enabling a feasibility study to be completed by early 2022. The Company would anticipate filing a mine plan permit as soon as 12 months of baseline data is captured – most likely by the end of 2021. The company is also evaluating its incremental economic contribution achieved by selling non-mineralized material as potential aggregate and exploring the potential to use the future open pit as a potential water storage facility, with a pit lake.

Overall, the CK Gold Project represents substantial value for the U.S. Gold Corp. shareholders. With an imminent PFS study, a project moving towards a full bankable feasibility study and anticipation of the filing of a mine plan permit, the CK Gold Project could be one of Wyoming’s next producing mines. It would not be surprising to see potential takeover interest in the CK Gold Project, or the entire company, as the market digests and understands the value of the PFS and project moving forward.

For more information about U.S. Gold Corp., please visit www.usgoldcorp.gold

See also: HOW TO INVEST IN GOLD

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