US Gold Corp completes magnetic survey at CK Gold project in Wyoming

U.S. Gold Corp. (NASDAQ: USAU) completed an expanded geomagnetic survey at its CK Gold Project in southeast Wyoming, according to a company statement. Zonge International Inc. conducted the survey using drone-mounted magnetometers, covering 325 line kilometers at an average 32-meter drape.

The survey extended magnetic anomalies identified in a 2017 ground magnetometer survey. The anomalies suggest additional structures and magnetite-altered zones that could host gold and copper mineralization, following a northwesterly structural pattern consistent with existing mineralization at the site.

The company is developing a mineral resource drilling program to test mineralization below the existing pit shell and investigate new targets outside the proposed pit footprint. Wright Geophysics will interpret the new data, and Zonge plans to conduct a gravity survey over the same area in late July.

"We are excited to see the additional anomalies similar to the historical Copper King Mine," said Kevin Francis, U.S. Gold's VP of Exploration and Technical Services. The company expects the information will lead to new exploration efforts targeting the anomalous areas.

President and CEO George Bee noted that with the CK Gold Project feasibility study published and the project fully permitted for development, the company can focus on expanding the pit into known mineralization and exploring areas of former high-grade ore mining in the Silver Crown Mining District.

U.S. Gold Corp. operates a portfolio of exploration properties including the Keystone property in Nevada and the Challis Gold Project in Idaho.

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