ELKO, NV, Dec. 6, 2018 /CNW/ -
- U.S. Gold Corp.
is approaching completion of a 6-hole, target-test, reverse
circulation drilling program of approximately 10,000
feet (approx. 3,500m)
- The drill
program is testing a number
of important target localities that were
previously inaccessible because of permitting
limitations
- Drill samples are being sent to Bureau
Veritas Laboratories, Reno,
NV for assay and detailed geochemical
analyses. Results from all the holes are expected
by mid to end January, 2019
U.S. Gold Corp. (NASDAQ: USAU), a gold exploration and
development company, is pleased to announce the pending completion
of the late Autumn 2018 drilling program at its 20 square mile,
Keystone project, in Nevada's
Cortez Trend. This drill program is testing several quality drill
targets in areas of completed detailed geology, surface
geochemistry, geophysics, and target synthesis. Up to this point in
time, the bulk of the Keystone project area was inaccessible to
drilling exploration because of severely limited surface
disturbance restrictions of about 5 acres per 4 square miles of
area. The Keystone Environmental Assessment (EA) and Plan of
Operation (POO) were approved by the Bureau of Land Management
(BLM) on September 7, and subsequent
archeological surveys preparatory to road and site building were
signed off by the BLM and Nevada Department of Environmental
Protection (NDEP). Access and the drill sites were constructed, and
drilling the six new sites is in progress.
Dave Mathewson, U.S. Gold Corp.'s
Vice President of Exploration, states: "Our Autumn 2018 Keystone
drilling program is moving along. The weather has started to change
at Keystone in Nevada and the
snows have made us call a pending end to the program. We are
pleased to likely complete the drill testing of 6 target sites in
this late Autumn program (see attached map:
https://www.usgoldcorp.gold/keystone-autumn-drilling.jpg). We will
be eagerly awaiting the assay results and are hopeful to have all
of them by mid to late January, 2019. We will keep the market
updated as soon as results are in and analyzed."
About U.S. Gold Corp.
U.S. Gold Corp. is a publicly traded U.S.-focused gold
exploration and development company. U.S. Gold Corp. has a
portfolio of development and exploration properties. Copper King is
located in Southeast Wyoming and
has a Preliminary Economic Assessment (PEA) technical report, which
was completed by Mine Development Associates. Keystone is an
exploration property on the Cortez Trend in Nevada, identified and consolidated by
Dave Mathewson. For more
information about U.S. Gold Corp., please visit
http://www.usgoldcorp.gold.
Forward-looking and cautionary
statements
Forward-looking statements in this press release and all other
statements that are not historical facts are made under the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. These statements involve factors, risks, and uncertainties
that may cause actual results in future periods to 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: changes in the price of gold
and mining industry cost inputs, environmental and regulatory
risks, risks 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 filed with the
Securities and Exchange Commission, which can be reviewed
at http://www.sec.gov. We make 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.
SOURCE U.S. Gold Corp.