Business
U.S. Gold Corp. Completes Gravity Survey at Maggie Creek Project on the Carlin Trend in Nevada
- Detailed gravity surveys never previously performed over the project area - Gravity report interpretation shows good correlation between previously mapped
About this update from U.s. Gold Corp.
[{"type":"text","content":"- Detailed gravity surveys never previously performed over the project area\n - Gravity report interpretation shows good correlation between previously mapped and interpreted structural zones\n - Several areas of potential system-related alteration, including possible signs of dolomitization, identified for field follow-up\n\n\nELKO, Nevada, May 13, 2020 /PRNewswire/ -- U.S. Gold Corp. (Nasdaq: USAU) (the \"Company\"), a gold exploration and development company, is pleased to announce the completion of a detailed gravity survey at its Maggie Creek exploration project on the Carlin Gold Belt in Nevada. U.S. Gold Corp. acquired the option to earn up to a 70% interest in the Maggie Creek project from Renaissance Gold (TSX.V: REN) through the Company's acquisition of Orevada Metals, Inc. The detailed gravity survey will aid ongoing mapping and future targeting-drilling activities at Maggie Creek. The survey was completed by Magee Geophysical Services of Reno, NV, with processing and interpretation completed by Wright Geophysics. Gravity interpretation supports the historic geologic mapping and identified several structural zones and potential alteration zones that require field checking and other follow-up work. \nKen Coleman, U.S. Gold Corp.'s Project Geologist, stated \"Considering the restrictions we all have been facing due to the COVID-19 pandemic, U.S. Gold Corp. has been able to make meaningful advancements on both of its key Nevada exploration projects. The Nevada Governor has recently released protocols for businesses within Nevada to begin the re-opening process, and I will be returning to the field shortly, starting with Maggie Creek. Our recently completed gravity survey at Maggie Creek will help focus initial surface mapping and sampling work on major interpreted and previously mapped structural zones and their intersections, some of which contain gold-bearing altered dikes and associated alteration zones. Structural intersection zones can be favorable for ore deposit formation, as evidenced by Newmont's (NYSE: NEM) Gold Quarry mine just to the southwest.\"\n\"Most encouraging are several areas along the Cress fault, termed \"Good Hope parallel\" in the gravity survey report, that may represent dolomitization. Dolomitization has been demonstrated to be associated with ore grade gold mineralization on the Carlin Belt and...