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U.S. Gold Corp.
Summary
| Project: | Copper King | |
|---|---|---|
| Deposit: | Copper King | |
| Location: | United States | |
| Commodities: | Gold-Copper-Zinc-Silver | |
| Date: | 1/30/2018 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-1-2018: U.S. Gold Corp. announces an Exploration/Drilling Update report for its Copper King deposit at the Copper King project. Drilling results incl. 160m @ 0.145% Cu, 0.113% Zn, 0.284g/t Au, 3.47g/t Ag from 102m. ELKO, Nev., Jan. 30, 2018 /PRNewswire | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: n/a (n/a) | |
| ABSTRACT: | ELKO, Nev., Jan. 30, 2018 /PRNewswire/ -- U.S. Gold Corp. (NASDAQ: USAU) today is pleased to announce the discovery of a new zone of base and precious metals mineralization west of the existing Copper King deposit. In late November and early December 2017, a four-hole, reverse circulation drilling program (3,945 feet/1,202 meters total) was completed, and assays from Bureau Veritas Minerals (BV Labs), Reno, Nevada, have just been obtained. Hole number CK17-01rc encountered a composite of almost 700 feet of base and precious metal mineralization beginning almost at the surface; see Table 1. The fall 2017 Copper King four-hole drilling program was designed to provide a first-pass drill test of anomalies obtained from a ground magnetics survey conducted in June combined with an induced polarization (IP) survey conducted by Zonge Geosciences Inc. in October 2017. Both geophysics programs were more detailed and comprehensive than previous surveys conducted on the project. Objectives of the IP survey were to 1.) delineate sulfide concentrations via the chargeability and 2.) discriminate lithologies via the resistivity. Rock magnetic expressions were delineated with the earlier ground magnetics survey. Gold mineralization at Copper King is known to be commonly, but not necessarily exclusively, associated with magnetite. The association of copper sulfide mineralization with gold mineralization in the historic mining area suggested that IP would be the more appropriate technique for detection of similarly mineralized material. The Copper King project is largely located on State of Wyoming managed lands. Permitting and bonding for drilling at Copper King through a "Notification of Intent to Explore for Noncoal Minerals" was readily and quickly facilitated and approved by the State of Wyoming Department of Environmental Quality based in Cheyenne, Wyoming. | |
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