PRINCETON, N.J., Dec. 8, 2016 /PRNewswire/ -- Dataram Corporation
(NASDAQ: DRAM) today announced that its acquisition target U.S.
Gold Corp. ("USGC") completed the staking of 71 additional claims
for the Keystone Project, located on the Cortez Trend in North
Central Nevada. The Keystone Project consists of 377
unpatented lode mining claims including the 71 additional and newly
staked claims on the north eastern end of the property in
Eureka County, Nevada. This
represents approximately 7,500 acres or between 11 to 12 square
miles.
"Keystone represents a large, district scale opportunity," said
Dave Mathewson, U.S. Gold Corp.'s VP
and Head of Nevada Exploration. "I have been on and off the
Keystone property for the last 30 years and Keystone represents one
of the best exploration opportunities in Nevada. This is the
first time in the last 30 years that one single company has
consolidated the entire district, providing the benefit of being
able to design our exploration program based upon geology instead
of claim boundaries. We are excited about the Keystone
project and look forward to providing additional updates as our
2016 exploration program advances."
The 2016 exploration program consists of:
- Property scouting, additional claim staking and initial target
reconnaissance
- Digitization of all prior analog data to build a current
geological property database
- A detailed mapping program to accurately identify all of the
properties geological characteristics
- A thorough gravity survey conducted by J L Wright Geophysics to
help define initial drill targets
- Soil sampling and geo-chemistry
- Rock sampling
- Drill target selection and initial permitting
- Drilling
"We are excited about the 2016 Keystone exploration program,"
continued Mr. Mathewson. "My approach to exploration has
always been a process driven, model-based methodology. This
is the same approach we used at Gold Standard Ventures to make the
initial discovery at Railroad. Keystone represents a
tremendous opportunity as the rock formations, setting, location
and geological indications present an ideal setting for a potential
discovery. With these additional claims, I am confident our
existing land package effectively controls every part of the
visible system and prospective extensions based upon gravity
data."
Dataram's Chairman and CEO Mr. Dave
Moylan further commented "the Keystone project represents an
excellent opportunity for Dataram's acquisition target. We
believe the additional land position at Keystone provides
significant exploration upside with what is now a much larger
property position. With the additional 71 claims secured, the
intent is to further explore and develop the project which includes
selecting target drill sites initiating permitting and
drilling. Our hope is this could lead to a potential
discovery, a future mineral resource estimate, and eventually,
commencing pre-feasibility work.
"We are encouraged by the momentum building at the acquisition
target as it reaffirms our commitment to creating accretive
value-added opportunities to our shareholders. The Keystone
project represents an evolutionary step in assembling a portfolio
of discovery and development stage projects in North
America. The Copper King Project in southeastern
Wyoming was the first step, and
the Keystone Project in Nevada is
the next significant growth step for the U.S. Gold Corp.
business. As such, we are pleased to confirm that the staking
of claims has been completed and the 2016 exploration program has
begun. "
Keystone is an early tertiary aged intrusive in lower plate
window. The property has extensive hydrothermal alteration
systems with regional and range-front structure zones. The
potential target is a "Cortez Hills" type deposit at shallow to
medium depth. The Keystone Project is positioned on the
prolific Cortez gold trend, one of the world's leading gold
producing regions. The project is centered on a granitic
intrusion that warped the local Paleozoic stratigraphy into a dome,
allowing for exposure of highly favorable Devonian, Carboniferous
(Mississippian-Pennsylvania) and Permo-Triassic rocks including key
likely host rocks for mineralization, the silty carbonate strata of
the Horse Creek Formation and the Wenban Limestone, as well as
possible sandy clastic units of the Diamond Peak Formation. The
Horse Canyon and Wenban rocks are the primary host rocks at the
nearby Cortez Hills Mine and Gold
Rush deposit currently operated by Barrick
Gold.
In the late 1800's, the Keystone mine was a small producing mine
with more than 140 historical drill holes on the property. No
comprehensive, modern-era, model-driven exploration has ever been
conducted on the Keystone Project. Previously, significant amounts
of low grade (+/- 0.02 opt) and anomalous gold were intersected,
but results were considered uneconomic, and prior projects were
terminated.
About Dataram Corporation
Dataram is an independent manufacturer of memory products and
provider of performance solutions that increase the performance and
extend the useful life of servers, workstations, desktops and
laptops sold by leading manufacturers such as Dell, Cisco, Fujitsu,
HP, IBM, Lenovo and Oracle. Dataram's memory products and solutions
are sold worldwide to OEMs, distributors, value-added resellers and
end users. Additionally, Dataram manufactures and markets a line of
Intel Approved memory products for sale to manufacturers and
assemblers of embedded and original equipment. 70 Fortune 100
companies are powered by Dataram. Founded in 1967, the Company is a
US based manufacturer, with presence in the United States, Europe and Asia. For more information about Dataram,
visit www.dataram.com.
Safe Harbor
Matters discussed in this press release contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. When used in this press
release, the words "anticipate," "believe," "estimate," "may,"
"intend," "expect" and similar expressions identify such
forward-looking statements. Actual results, performance or
achievements could differ materially from those contemplated,
expressed or implied by the forward-looking statements contained
herein. These forward-looking statements are based largely on the
expectations of the Company and are subject to a number of risks
and uncertainties. These risks include, but are not limited to,
risks and uncertainties associated with the price of the Company's
common stock and its ability to satisfy the continued listing
standards of The NASDAQ Stock Market, the impact of economic,
competitive and other factors affecting the Company and its
operations, markets, products, changes in the price of memory
chips, changes in the demand for memory systems, increased
competition in the memory systems industry, order cancellations,
delays in developing and commercializing new products, risks
related to the Company's previously announced acquisition target,
U.S. Gold Corp., faced by junior exploration companies generally
engaged in pre-production activities; maintenance of important
business relationships; 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, including the Risk
Factors with respect to U.S. Gold contained in the Current Report
on Form 8-K filed on November 29,
2016, 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:
Dataram Contact:
Jeffrey Goldenbaum
Director, Marketing
609-799-0071
info@dataram.com
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SOURCE Dataram Corporation