-Corporate video and website dedicated to providing the latest information on the Company's advanced stage gold and copper project, located at the historic Copper King Mine in Wyoming's Silver Crown Mining District
-Enhances critical component of Company's communication and outreach strategy to its stakeholders and local community
CHEYENNE, Wyo., Aug. 17, 2021 /PRNewswire/ -- U.S. Gold Corp. (NASDAQ: USAU), a gold exploration and development company, is pleased to announce the launch of a website dedicated to its CK Gold Project in Wyoming. The website is available at: https://www.ckgoldmine.com.
Additionally, a newly updated video of the CK Gold project can be viewed here.
The CK Gold Project is located in the mining friendly State of Wyoming, 20 miles west of Cheyenne. It has been identified as a project of merit in the Company's December 2017 Preliminary Economic Assessment (PEA) by Mine Development Associates, an independent mining consulting firm retained by the Company. Highlights of the PEA covering CK Gold include high-grade mineralization exposed at the surface, with potential for expanding the resource. Over the last 12 months, U.S. Gold Corp. has proactively reached out to numerous local officials in the greater Cheyenne area, as well as local ranchers, property owners, and other interested stakeholders. In the first half of 2021, Company officials have attended more than 40 meetings with over 120 participants in Cheyenne and Laramie, WY. Overall, the reception has been positive and well received.
The new CK Gold Project website provides an overview of the project, the potential benefits to the local community, and information on the mining processes it may utilize. The CK Gold Project is anticipated to be an open pit operation, producing a gold, copper concentrate by gravity and flotation. The Company is exploring the possibility of using the future open pit as a reservoir for additional water storage, to address anticipated future water needs for the greater Cheyenne area. Additional geotechnical and hydrology studies are underway as part of the 2021 field season activities to support the viability of the open pit as a potential water storage facility.
U.S. Gold Corp.'s President and CEO Mr. George Bee stated, "We are proud to publish this dedicated website and video to provide our followers and all direct and indirect stakeholders an excellent visual overview and understanding of the CK Gold Project and our development programs. Transparency is important to U.S. Gold Corp., and proactive communication and community outreach is a critical component of our plans. As part of our outreach efforts, we've joined industry organizations, and opened an office in Cheyenne where interested parties can learn more about the project."
Mr. Bee added, "The CK Gold Project is a robust resource and we look forward to the formal release of our pre-feasibility study (PFS) expected by the end of September. The PFS will be the culmination of all the previous field and technical work which has occurred in the past year. It will have an updated mineral resource report and economic model, to advance the Project towards a production decision. Our 2021 summer programs are well underway in Wyoming including ongoing base-line studies, additional geotechnical and engineering studies, metallurgy, hydrology and resource expansion. We anticipate moving the project to a full bankable feasibility study by early 2022 and filing our mine plan permit."
U.S. Gold Corp.'s Vice President of Exploration & Technical Services, Mr. Kevin Francis commented, "We are on track to complete the new CK drilling program by November and are excited to receive all the assay results and updated technical study conclusions. The CK Gold Project is unique in that the consistency of the mineralization is extremely uniform throughout the deposit and lends well to future mining. We anticipate being in a position to file our mine plan permit in early 2022 as we advance the project towards the final feasibility study and production decision."
About U.S. Gold Corp.
U.S. Gold Corp. is a publicly traded, U.S. focused gold exploration company. U.S. Gold Corp. has a portfolio of exploration properties. Copper King, now the CK Gold Project, is located in Southeast Wyoming and has a Preliminary Economic Assessment (PEA) technical report, which was completed by Mine Development Associates. Keystone and Maggie Creek are exploration properties on the Cortez and Carlin Trends in Nevada. The Challis Gold Project is located in Idaho. 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 "will," "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 from such statements. 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: the prevailing market conditions for metal prices and mining industry cost inputs, environmental and regulatory risks, risks faced by junior companies generally engaged in exploration activities, whether U.S. Gold Corp. will be able to raise sufficient capital to implement future exploration programs, COVID-19 uncertainties, 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 makes no representation or warranty that the information contained herein is complete and accurate and we have no duty to correct or update any information contained herein.
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SOURCE U.S. Gold Corp.
Released August 17, 2021