Drilling At Gold Bar Project Expands Mineralization
TORONTO, ON - US Gold Corporation reported that drilling at its Gold Bar Project in Nevada's prolific Cortez Trend continues to expand the known mineralization, encountering good grades and widths. Nine out of ten holes designed to follow-up on results released on September 9th hit economically significant mineralization. The objective of the drilling was to increase the size of the NI 43-101 compliant resource in three areas: 1) West Pick, 2) East Pick, and 3) North Ridge.
At West Pick drilling successfully extended the known mineralization by approximately 170 ft. (50 m) to the southwest of hole GB48, which returned a good result: 0.085 opt (2.9 gpt) gold over 150 ft (45.7 m). Results indicate the gold is localized in two low-angle zones of similar grade and thickness. Hole GB70 had the best intercept from the most recent set of results, returning: 0.065 opt (2.24 gpt) gold over 120 ft. (36.6 m). The mineralization remains open to further expansion and potential remains to join Gold Pick and Gold Ridge. Assays are pending for holes designed to extend the zone farther to the southwest.
East Pick drilling intercepted 0.064 opt (2.18 gpt) gold over 65 ft (19.8 m) and 0.042 opt (1.45 gpt) gold over 95 ft (29 m) in two holes drilled as follow-up to GB68, which returned a good intercept of 0.070 opt (2.39 gpt) gold over 105 ft (32.0 m). Mineralization in this zone was expanded by 260 ft. (80 m) east from the stated NI 43-101 resource and remains open for further expansion. Drilling to further extend the mineralization is currently underway.
Two holes were completed at North Ridge where the mineralization was interpreted to be open for expansion. Drilling in this area encountered 0.055 opt (1.87gpt) gold over 60 ft. (18.3 m), which extended the mineralized zone 65 ft. (20 m) to the east. Further opportunities to extend the zone in this area are being evaluated.
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