ELKO, Nev., July 5, 2017 /PRNewswire/ -- US Gold
Corp (NASDAQ: USAU) today announced that it has completed the
acquisition of the Gold Bar North (GBN) mining claims. The Gold Bar
North Property consists of 49 unpatented lode mining claims in
Eureka County, Nevada. The only
financial obligation required to maintain these claims are the
annual federal and county fees.
GBN is a highly prospective gold exploration property,
identified and staked by Dave
Mathewson. GBN consists of 49 unpatented lode mining claims
situated in Eureka County, Nevada,
in Sections 29, 30, 31, and 32, Township 23 North, Range 49 East,
and Sections 5 and 6, Township 22 North, Range 49 East, Mount
Diablo Base Line and Meridian.
Dave Mathewson, Vice President
and Head of Nevada Exploration stated, "I believe that Gold Bar
North is an important strategic addition to the Keystone district
project. In early 2016, I expanded the Gold Bar North holding from
the original 19 core claims that I held to a total of 49 claims,
which now more completely cover the Gold Bar North gravity and
magnetic high and associated permissive carbonate horst. Gold Bar
North (GBN) is clearly on line with the Gold Bar and Mill Site gold
deposits located within the permissive carbonate Gold Bar horst
farther to the south. The Gold Bar deposit was composed of
3.95Mt at a grade of 2.95 g/t with a 1.5-to-1 waste-to-ore strip
and 90 percent gold recovery in an oxide CIL mill. Gold Bar was
mined out by Atlas Corp. from 1987-1992. The geology/stratigraphy
of GBN is very similar to that of both Keystone and Gold Bar. I
drilled three holes (from 2004 to 2006), and more were drilled
(1989-1990) by Newmont's (Buckaroo project), and all exhibited
interesting alteration characteristics and geochemistry. There is
an apparent strong regional structural tie-in of Gold Bar North
with both Keystone and Gold Bar. The Gold Bar district is highly
prospective with McEwen Mining's Gold Bar Development Project and
Gold Bar South property nearby."
US Gold Corp's President and CEO Edward
Karr further commented, "The acquisition of Gold Bar North
represents a continued, methodical growth strategy for US Gold
Corp. The property is very synergistic for our flagship Keystone
district-scale project and provides an additional exploration
upside for a potential discovery. By consolidating the entire
Keystone district on the world-class Cortez
Trend and adding this nearby additional Nevada high-potential exploration property, we
are hopeful of future potential discoveries."
About US Gold Corp.
US Gold Corp. is a publicly traded U.S. focused gold exploration
and development company. US Gold Corp. has a portfolio of
development and exploration properties. Copper King is
located in South East 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 US Gold Corp.,
please visit www.usgoldcorp.gold
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Safe Harbor
The information provided in this press release may include
forward-looking statements relating to future events, such as the
exploration success of US Gold Corp., development of new Dataram
products, pricing and availability of raw materials or the future
financial performance of the Company. Actual results may
differ from such projections and are subject to certain risks
including, without limitation, risks arising from: changes in the
price of gold and mining industry cost inputs, 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 with respect to
US Gold Corp 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, including the
Risk Factors with respect to U.S. Gold Corp. contained in the
Current Report on Form 8-K filed on May 26,
2017, 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:
US Gold Corp. Investor Relations:
+1 800 557 4550
ir@usgoldcorp.gold
www.usgoldcorp.gold
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SOURCE US Gold Corp