Business
U.S. Gold Corp. Launches New CK Gold Project Video Following the Release of a Positive Prefeasibility Study
-New video shows robust prefeasibility study ("PFS") economics on the Company's advanced stage gold and copper project, located at the historic Copper King
About this update from U.s. Gold Corp.
[{"type":"text","content":"-New video shows robust prefeasibility study (\"PFS\") economics on the Company's advanced stage gold and copper project, located at the historic Copper King Mine in Wyoming's Silver Crown Mining District\n\n\nCHEYENNE, Wyo., Jan. 11, 2022 /PRNewswire/ -- U.S. Gold Corp. (NASDAQ: USAU) (the \"Company\"), a gold exploration and development company, is pleased to announce the launch of a new corporate video highlighting the PFS economics for its CK Gold Project (the \"CK Gold Project\") in Wyoming. The video is available here.\nThe video provides an overview of the PFS along with attractive and robust project economics, including proven and probable mineral reserves, citing 1.01 million ounces of gold and 248 million lbs of copper. The CK Gold Project is anticipated to be an open pit operation, producing a gold and copper concentrate by flotation. The Company is exploring the possibility of using the future open pit as a reservoir for additional water storage, to address anticipated future water needs for the greater Cheyenne area. Additional geotechnical and hydrology studies were completed as part of the 2021 field season activities to support the viability of the open pit as a potential water storage facility, with results expected during 2022.\nU.S. Gold Corp.'s President, Chief Executive Officer and Chairman, Mr. George Bee, stated, \"We are excited to publish this video to provide our supporters, investors and direct and indirect stakeholders an excellent visual overview and understanding of our CK Gold Project PFS economics and our future development plans. Transparency is important to U.S. Gold Corp., and proactive communication and community outreach is a critical component of our plans. As part of our outreach efforts, we've joined industry organizations and opened an office in Cheyenne where interested parties can learn more about the CK Gold Project.\"\nMr. Bee added, \"The CK Gold Project is a robust resource, with the PFS reporting Proven and Probable reserves of 1.44 million gold equivalent ounces. With a pre-tax NPV of $323 million and IRR of 39.4%, the CK Gold Project looks very solid. Keep in mind, the PFS was done at $1,625 gold and $3.25 copper. Both metals are higher in the current spot markets and the CK Gold Project has great leverage in a rising metals environment. Our 2021 field season in Wyoming included ...