Business
U.S. Gold Corp. Announces New Targets for Upcoming Commencement of Drilling at Maggie Creek, Carlin Gold Belt, in Nevada
- U.S. Gold Corp. intends to drill up to 5,000 feet (approx. 1,500 m) in up to 2 holes as part of ongoing exploration - These holes seek to assess a new
About this update from U.s. Gold Corp.
[{"type":"text","content":"- U.S. Gold Corp. intends to drill up to 5,000 feet (approx. 1,500 m) in up to 2 holes as part of ongoing exploration\n - These holes seek to assess a new target concept below post-mineral cover to the east of Nevada Gold Mines' Gold Quarry mine\n - Target was developed using structural projections, gravity data and geochemistry\n\n\nELKO, Nev., April 7, 2021 /PRNewswire/ -- U.S. Gold Corp. (NASDAQ: USAU), a gold exploration and development company, is pleased to announce plans for the commencement of core drill testing of a previously untested, covered Carlin-type target on its Maggie Creek project, located directly east of Nevada Gold Mines' Gold Quarry mine and processing facilities. \nKen Coleman, U.S. Gold Corp.'s Chief Geologist, states, \"We are very pleased to move forward with the initial assessment of this target concept in an area not previously tested due to thick post-mineral cover. Previous operators have looked at the property from the standpoint of shallow, open-pit mineable and heap leachable deposit exploration. We have seen over the recent years an increase in exploration under cover for potentially high-grade, underground mineable gold deposits along the Carlin and Battle Mountain-Eureka Gold Belts. I think high-grade, underground mining is the future in Nevada and that the best opportunities for major discoveries will be under cover. Pursuing these opportunities will require proper mapping and sound geologic reasoning, supported by geochemical and geophysical tools. While we will continue to assess near-surface opportunities on our various projects, we will also be placing a stronger emphasis on concealed targets in areas of our projects that have been lightly tested or not previously explored.\"\nPrevious interpretations of the local structure and mineral potential of the Maggie Creek project have been based upon straight-line projections of the northeast striking Chukar-Alunite (CA) fault zone and related steeply dipping features in its footwall across several northwest striking faults, including the Good Hope fault. However, the CA fault zone dips 35-45° to the southeast, and as such, cannot be properly projected in a straight line across current topography and several northwest striking faults to the east of Gold Quarry. In addition, most of the major mineralization at Gold Quarry is located in the hangi...