Business
U.S. Gold Corp. Announces New Copper King Discovery Zone from Fall 2017 Drilling Results
Completed 2017 Fall drilling results indicate presence of previously undiscovered zone of base and precious metal mineralization 200-meter western step-out hole
About this update from U.s. Gold Corp.
[{"type":"text","content":" Completed 2017 Fall drilling results indicate presence of previously undiscovered zone of base and precious metal mineralization 200-meter western step-out hole encounters gold, copper, zinc and silver ELKO, Nev., Jan. 30, 2018 /PRNewswire/ -- U.S. Gold Corp. (NASDAQ: USAU) today is pleased to announce the discovery of a new zone of base and precious metals mineralization west of the existing Copper King deposit. In late November and early December 2017, a four-hole, reverse circulation drilling program (3,945 feet/1,202 meters total) was completed, and assays from Bureau Veritas Minerals (BV Labs), Reno, Nevada, have just been obtained. Hole number CK17-01rc encountered a composite of almost 700 feet of base and precious metal mineralization beginning almost at the surface; see Table 1. Drill Hole From (ft) To (ft) Thickness(ft) Thickness(m) Copper> 0.1% Zinc% Gold (g/t) Silver(g/t) CK17-01rc -70 deg N(1,030 ft td) 20 85 65 19.8 0.096 0.065 0.208 2.82 180 200 20 6.1 0.103 0.217 0.135 3.03 335 860 525 160 0.145 0.113 0.284 3.47 940 1,025 85 25.9 0.115 0.089 0.232 2.52 CK17-02rc-70 deg N(1,000 ft td) No significant assays CK17-03rc-70 deg N(1,000 ft td) No significant assays CK17-04rc-70 deg S(915 ft td) No significant assays Table 1: Summary of fall 2017 Copper King drill results, based on > 20 ft intercepts including > 0.1% copper The fall 2017 Copper King four-hole drilling program was designed to provide a first-pass drill test of anomalies obtained from a ground magnetics survey conducted in June combined with an induced polarization (IP) survey conducted by Zonge Geosciences Inc. in October 2017. Both geophysics programs were more detailed and comprehensive than previous surveys conducted on the project. Objectives of the IP survey were to 1.) delineate sulfide concentrations via the chargeability and 2.) discriminate lithologies via the resistivity. Rock magnetic expressions were delineated with the earlier ground magnetics survey. Gold mineralization at Copper King is known to be commonly, but not necessarily exclusively, associated with magnetite. The association of copper sulf...