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U.S. GoldMining Inc. (NASDAQ: USGO) is a dynamic mineral exploration and development company with a primary focus on gold and copper. The company is actively developing the Whistler Project in Alaska's Yentna Mining District, approximately 170 km northwest of Anchorage. This project encompasses a substantial gold-copper porphyry deposit and has been a significant focus for U.S. GoldMining Inc.
Recent achievements at the Whistler Project include the successful 2023 drilling program, which confirmed the high-grade continuity of the deposit. This program also extended the known mineralization boundaries, showcasing one of the longest drill intercepts of consistent mineralization in the project's history. The latest drill results have not only validated the geological model but also indicated potential expansions at depth and along strike.
U.S. GoldMining Inc. is now preparing for the 2024 field season, which will include confirmatory and step-out drilling in Whistler and Raintree West deposits. The current exploration program is fully funded, with the company holding over $10 million in cash and cash equivalents as of March 31, 2024. This strong financial position enables the company to advance its exploration initiatives effectively.
Moreover, the company boasts a robust technical team dedicated to unlocking further value from the Whistler Project. The ongoing efforts aim to identify additional porphyry-hosted deposits within the broader Whistler-Raintree mineral system, known for its promising gold-copper mineralization potential.
With clear strategic goals and substantial financial backing, U.S. GoldMining Inc. is well-positioned to enhance shareholder value through its dedicated exploration and development activities, capitalizing on the high gold and copper prices in the market.
GoldMining's subsidiary, U.S. GoldMining, has updated its Mineral Resource Estimate (MRE) for the Whistler Gold-Copper Project in Alaska. Key highlights include:
- Indicated Mineral Resource: 294 million tonnes (Mt) at 0.68 grams per tonne (g/t) gold equivalent (AuEq) for 6.48 million ounces (Moz) AuEq.
- Inferred Mineral Resource: 198 Mt at 0.65 g/t AuEq for 4.16 Moz AuEq.
- The indicated category has increased by 117% compared to the 2022 MRE.
- The updated Whistler MRE includes 2023 drilling data and excludes recent 2024 assays.
- U.S. GoldMining has concluded its 2024 drilling program, achieving 4,006 meters in 6 holes.
The Whistler MRE is constrained by conceptual pit design shells and includes three deposits: Whistler, Raintree, and Island Mountain, covering only 1% of U.S. GoldMining's land holdings. The company is exploring additional targets within the 'Whistler Orbit'.
U.S. GoldMining (NASDAQ: USGO) has announced an updated Mineral Resource Estimate (MRE) for its Whistler Gold-Copper Project in Alaska. The indicated mineral resource now stands at 294 million tonnes (Mt) at 0.68 grams per tonne (g/t) gold equivalent (AuEq) for 6.48 million ounces (Moz) AuEq. The inferred mineral resource is 198 Mt at 0.65 g/t AuEq for an additional 4.16 Moz AuEq. This represents a 117% increase in indicated gold equivalent ounces compared to the 2022 MRE. The updated MRE incorporates 2023 drilling results, revised geological interpretation, and refreshed cut-off grade assumptions. The Whistler Project includes three deposits: Whistler, Raintree, and Island Mountain, which together occupy approximately 1% of the company's land holdings. The 2024 drilling program has concluded, achieving 4,006 meters of drilling in 6 holes, further confirming the geological model and extending mineralization. The effective date of the updated MRE is September 12, 2024.
U.S. GoldMining Inc. (NASDAQ: USGO) has announced initial assay results from its 2024 drilling program at the Whistler Gold-Copper Project in Alaska. Highlights include:
- Whistler Deposit: Drill hole WH23-03 extended to intersect 652.5 meters at 1.00 g/t gold equivalent (AuEq) from near-surface, including higher-grade zones of 176.0 m at 1.55 g/t AuEq and 57.0 m at 1.36 g/t AuEq.
- Raintree Open Pit: Drill hole WH24-01 intersected 61.4 m at 0.53 g/t AuEq, including 41.0 m at 0.61 g/t AuEq.
The 2024 drilling season has been completed with over 4,005 meters drilled. The results confirm continuity of high-grade mineralization at the Whistler Deposit and demonstrate potential for expansion at the Raintree Deposit.
GoldMining has announced promising results from their diamond and auger drilling programs at the São Jorge Project in Brazil's Tapajós gold district.
Key discoveries include:
- Diamond drilling: New gold and copper mineralization found 1 km from the main São Jorge deposit.
- Notable assay results: Drill hole SJD-123-24 yielded 10 m at 0.66 g/t gold, including 2 m at 1.65 g/t gold; SJD-124-24 returned 28 m at 275 ppm (0.0275%) copper.
- Auger drilling: Indicated new gold zones at the William South target, 2 km north of the deposit, with high-grade results such as 1 m at 17.14 g/t gold from 12 m depth.
These findings suggest potential for significant gold and copper mineralization in previously unexplored areas, supporting the hypothesis of an extensive high-strain corridor.
U.S. GoldMining Inc. (NASDAQ: USGO) has provided an update on its Whistler Gold-Copper Project in Alaska for the 2024 field season. Highlights include:
- Over 2,500 meters of core drilled, exceeding the entire 2023 campaign
- Three new drill holes completed, with assays pending
- Extension of WH23-03 by 274.35 meters, following up on a significant mineralization intercept
- Surface exploration activities commenced in the 'Whistler Orbit'
- Ongoing environmental survey work and stakeholder engagement
The company is focusing on sustainable exploration and community involvement, supporting local hiring and procurement initiatives. CEO Tim Smith emphasized the company's commitment to transparent stakeholder engagement and environmental responsibility as they advance the Whistler Project.
GoldMining announced positive assay results from its São Jorge Project in Brazil. The completed diamond core drilling program, spanning 1,077 meters, revealed significant findings from two holes: SJD-122-24, which showed 19 meters grading 1.24 g/t gold, including 7 meters at 2.98 g/t gold, and SJD-121-24, which showed 18 meters grading 0.70 g/t gold, including 8 meters at 1.14 g/t gold. The drilling aims to confirm and explore new mineralization zones, bolstering resource confidence and potentially leading to new gold discoveries. São Jorge, located in the Tapajós gold district, benefits from its proximity to infrastructure and historical gold production.
U.S. GoldMining has initiated its 2024 drilling season at the Whistler Gold-Copper Project in Alaska, focusing on confirmatory infill and step-out drilling in the Whistler and Raintree West deposits. The Whistler Project holds 2.99 million gold equivalent ounces in the indicated category and 6.45 million in the inferred category. A significant drill intercept from 2023 recorded 547.15 meters at 1.06 grams per tonne gold equivalent. The company aims to advance the geological model, extend high-grade mineralization areas, and potentially expand the current resource. The project is supported by a strong financial position with over $10 million in cash and no debt. The initial drilling commenced ahead of schedule, providing nearly two additional months of field time compared to the previous season.
GoldMining has announced positive assay results from the first drill hole of its São Jorge Project in Brazil. The drilling program aims to confirm high-grade mineralization and improve resource estimates. Highlights include a 163m interval grading 1.02 g/t gold, with notable intersections of 37m at 2.26 g/t gold and 20m at 1.37 g/t gold. The project is strategically located in the Tapajós Gold District, near existing infrastructure. The results are expected to enhance the geological model and future resource estimations.
GoldMining has announced promising preliminary results from the geophysical survey reprocessing of its Rea uranium project in the Western Athabasca Basin. The Company, which owns 75% of the project, has identified over 70 km of prospective trends within three distinct corridors. The project encompasses approximately 125,328 hectares and surrounds Orano Canada's Dragon Lake prospect. Notable findings include anomalous uranium values and pathfinder elements in multiple drill holes across the Maybelle River, Net Lake, and Keane Lake corridors. CEO Alastair Still emphasized the cost-efficiency and strategic relevance of this work towards unlocking shareholder value. Future exploration will focus on refining targets for drilling.
U.S. GoldMining (NASDAQ: USGO) has published its 2024 Sustainability Factsheet, outlining the company's environmental and community initiatives. Key highlights include the advancement of the Whistler Gold-Copper Project in Alaska, potential contributions to the U.S. domestic supply of copper, and economic benefits to local Alaskan communities. The company spent $4.3M with local suppliers, awarded key contracts to local businesses, and donated over $60,000 to community causes. Health and safety measures included 192 hours of training and 2,070 hours of management activities. The board boasts 50% female representation. The detailed factsheet is available on the company's website.
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