ELKO, Nev., Dec. 12, 2017 /PRNewswire/ -- U.S. Gold Corp. (NASDAQ: USAU) today is pleased to provide an update of its Fall 2017 drilling programs at Keystone, Gold Bar North and Copper King.
U.S. Gold Corp. completed a one-hole scout drill program at its Gold Bar North property. The hole was drilled to 1810 feet (552 meters). Samples have been sent to BV Labs in Elko, Nevada and assays are pending.
A seven-hole, 10,740 feet (3,274 meters) scout drill program has been completed at Keystone. Drill holes were widely spaced throughout the Keystone property to provide an initial scout test of several zones of interest. All seven holes have now been completed and samples have been sent to BV Labs in Elko, Nevada for assays.
A 4-hole, 3,945 feet (1,202 meters) exploratory drill program has been completed at Copper King in Wyoming. Assays are pending with BV Labs in Elko, Nevada.
Dave Mathewson, Vice President and Head of Exploration commented, "We are pleased to announce the completion of our 2017 Fall drilling programs; drilling went well, and we had visual encouragement in several holes. Our intention was to advance our exploration programs through this additional scout drilling. We anxiously await the results of all of the assays and will release these as soon as we receive them, which is anticipated to be mid to late January for all the holes and assessments."
U.S. Gold Corp. is pleased to announce that it has engaged Mine Development Associates (MDA) to update the historic Copper King Preliminary Economic Assessment (PEA). MDA is updating the PEA for current metals prices and mine input costs. The full report will be released when finished and internally reviewed.
About U.S. Gold Corp.
U.S. Gold Corp. is a publicly traded U.S.-focused gold exploration and development company. U.S. Gold Corp. has a portfolio of development and exploration properties. Copper King is located in Southeast Wyoming and has a historical Preliminary Economic Assessment (PEA), done by Mine Development Associates in 2012 for Strathmore Minerals Corporation. Keystone is an exploration property on the Cortez Trend in Nevada, identified and consolidated by Dave Mathewson. For more information about U.S. Gold Corp., please visit www.usgoldcorp.gold
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as "anticipate," "believe," "forecast," "estimated," and "intend," among others. These forward-looking statements are based on U.S. Gold Corp.'s current expectations, and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements. These factors include, but are not limited to, risks arising from: changes in the price of gold and mining industry cost inputs, environmental and regulatory risks, risks faced by junior companies generally engaged in exploration activities, and other factors described in the Company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the Securities and Exchange Commission, which can be reviewed at www.sec.gov. The Company has based these forward-looking statements on its current expectations and assumptions about future events. While management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory, and other risks, contingencies, and uncertainties, most of which are difficult to predict and many of which are beyond the Company's control. The Company does not assume any obligations to update any of these forward-looking statements.
For additional information, please contact:
U.S. Gold Corp. Investor Relations:
+1 800 557 4550
SOURCE U.S. Gold Corp.