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U.S. GOLDMINING COMMENCES DRILLING PROGRAM AT WHISTLER GOLD-COPPER PROJECT, ALASKA
ANCHORAGE, Alaska, Aug. 21, 2023 /PRNewswire/ - U.S. GoldMining Inc. (NASDAQ: USGO) ("U.S. GoldMining" or the "Company") is pleased to announce the
About this update from U.s. Goldmining Inc.
[{"type":"text","content":"ANCHORAGE, Alaska, Aug. 21, 2023 /PRNewswire/ - U.S. GoldMining Inc. (NASDAQ: USGO) (\"U.S. GoldMining\" or the \"Company\") is pleased to announce the commencement of the Company's 2023 Phase 1 Drilling Program (the \"Program\") at its 100% owned Whistler gold-copper project (\"Whistler\" or the \"Project\") in Alaska, USA. \nPhase 1 Drilling Program Overview:Phase 1 of a multi-phase exploration program has now commenced, including core drilling of an initial 5,000 meters at Whistler. Objectives of the overall 10,000-meter drilling program are to expand and increase confidence in the existing gold-copper deposits at Whistler, as well as testing prospective exploration targets for potential discovery of additional gold-copper porphyry mineral deposits in close proximity to existing mineralization. The Program will advance the underlying geologic model to support an updated Whistler mineral resource estimate. On completion, this updated mineral resource estimate will underpin a proposed Preliminary Economic Assessment (\"PEA\") which is currently expected to commence in the second half of 2024. In addition to targeting exploration and mineral resource expansion, the Program is designed to deliver additional technical data which will support geotechnical and geometallurgical studies in support of the proposed PEA. Renovation work on the existing Whistler camp was completed as scheduled in July 2023 and a diamond core drill was subsequently mobilized to site in early August 2023.The Company is fully permitted to conduct the planned exploration activities at Whistler, following the receipt of an amended permit in July 2023, from the Alaska Department of Natural Resources, which will enable potential expansion of the Program if warranted in the future.Tim Smith, Chief Executive Officer of U.S. GoldMining, commented: \"The start of our inaugural exploration drilling campaign at Whistler marks an important milestone for U.S. GoldMining. Whistler has not been actively explored in more than a decade, and by utilizing new technology and applying our team's technical expertise, we aim to gain a better understanding of the mineral systems and the potential development options for Whistler. The Program will explore extensions along strike and to depth, as well as prioritize the improved delineation of higher-grade zones within the existing W...