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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 Inc (TSX: GOLD) (NYSE: GLDG) has renewed its at-the-market equity program (ATM Program), allowing the distribution of up to US$50 million worth of common shares. The shares will be sold at prevailing market prices through a syndicate of agents led by BMO Nesbitt Burns Inc. and BMO Capital Markets Corp.
The proceeds will fund exploration and development of mineral properties, complete minimum work programs, maintain property rights, fund future acquisitions, and provide working capital. The program will be effective until December 24, 2025, or until the aggregate gross sales reach US$50 million. This ATM Program replaces the previous one that expires on December 31, 2024.
U.S. GoldMining (NASDAQ: USGO) reported significant achievements at its Whistler Gold-Copper Project in Alaska during 2024. Key highlights include a 117% increase in Indicated resources to 6.5 million ounces gold-equivalent (AuEq), with an additional 4.2 million ounces AuEq in the Inferred category. The company's drill campaign yielded notable results, including intersections of 652.5m at 1.00 g/t AuEq and 120m at 1.00 g/t AuEq. Over 13,000 feet of drilling was completed ahead of schedule and under budget. The company invested $4.3 million in the Alaskan economy through local partnerships and contributed $60,000 to community initiatives. Progress was also made on environmental studies and collaboration with authorities on the West Susitna Access Road project.
U.S. GoldMining (NASDAQ: USGO) announced new assay results from their 2024 confirmatory diamond core drilling program at the Whistler Gold-Copper Project in Alaska. The highlight is drill hole WH24-02, which intersected 120 meters at 1.00 g/t gold equivalent, including high-grade intercepts of 40m at 1.28 g/t AuEq and 20m at 1.26 g/t AuEq. The total mineralized envelope comprises 274m at 0.71 g/t AuEq. The company completed over 4,000 meters of drilling in 2024, with assays pending for three additional drill holes. The results confirm a western high-grade zone within the Whistler Deposit, supporting the company's thesis on gold grade zonation.
GoldMining reports additional high-grade drilling results at its 100% owned São Jorge Project in Brazil. The 2024 auger drilling program identified several new gold-in-bedrock targets, with peak assays exceeding expectations. Highlight intercepts include 1 meter at 10.2 g/t Au from 14m depth, 5m at 2.78 g/t Au from 10m depth, and 3m at 1.05 g/t Au from 12m depth. Only 13% of the broad gold-in-soil anomalies across the project have been tested to date. The company plans further drilling in 2025 to delineate additional targets and potentially discover new gold resources. The São Jorge property, located in the Tapajós gold district, covers 45,997 hectares and has significant exploration potential. The project benefits from nearby infrastructure, including a paved highway and a new powerline corridor.
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.
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