U.S. Gold Corp. (NASDAQ: USAU) shares made small steps upward Tuesday, on word the company has extended mineralization 700 feet below the proposed open pit, following receipt of assay results from three additional drill holes completed during the 2021 field season. The Company continues to be encouraged by the positive results from its confirmatory and expansion drilling.
In commenting on these latest results, Kevin Francis, V.P. Exploration and Technical Services of U.S. Gold, said, "The primary purpose of the 2021 drill program was to support feasibility study level hydrology and geotechnical studies. Nonetheless, CK21-12rc/c, a combination reverse circulation and core hole, CK21-14c and CK21-03c were also exploratory. These holes have discovered future mineral resource expansion potential at depth below the proposed open pit and to the southeast of the proposed pit.
The Company reported additional results from 3 core holes completed during the 2021 drilling program which was primarily focused on advancing geotechnical and hydrologic understanding. Gold and copper assays from the 2021 program have extended mineralization beyond the prefeasibility mineral resource estimate. As such, the Company believes that an increase of mineral resources is possible.
U.S. Gold Corp. is a publicly traded, U.S. focused gold exploration and development company. U.S. Gold Corp. has a portfolio of exploration properties. The CK Gold Project is located in Southeast Wyoming
USAU shares dropped nine cents, or 1.4%, to $6.35.
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