U.S. GoldMining More Than Doubles Indicated Mineral Resource Estimate to 6.48 Million AuEq Oz with an Additional 4.16 Million AuEq Oz Inferred for the Whistler Project, Alaska
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 (NASDAQ: USGO) ha annunciato un aggiornamento della Stima delle Risorse Minerarie (MRE) per il suo progetto di oro-rame Whistler in Alaska. La risorsa minerale indicata ora ammonta a 294 milioni di tonnellate (Mt) a 0,68 grammi per tonnellata (g/t) equivalente oro (AuEq) per 6,48 milioni di once (Moz) AuEq. La risorsa minerale inferita è di 198 Mt a 0,65 g/t AuEq per ulteriori 4,16 Moz AuEq. Questo rappresenta un aumento del 117% delle once equivalenti d'oro indicate rispetto alla MRE del 2022. La MRE aggiornata incorpora i risultati di perforazione del 2023, l'interpretazione geologica rivista e le assunzioni aggiornate dei gradi di cut-off. Il progetto Whistler include tre depositi: Whistler, Raintree e Island Mountain, che occupano insieme circa l'1% delle proprietà della società. Il programma di perforazione del 2024 si è concluso, raggiungendo 4.006 metri di perforazione in 6 fori, confermando ulteriormente il modello geologico ed estendendo la mineralizzazione. La data effettiva della MRE aggiornata è il 12 settembre 2024.
U.S. GoldMining (NASDAQ: USGO) ha anunciado una estimación actualizada de recursos minerales (MRE) para su Proyecto de Oro-Cobre Whistler en Alaska. La recurso mineral indicado ahora se sitúa en 294 millones de toneladas (Mt) a 0,68 gramos por tonelada (g/t) equivalente de oro (AuEq) por 6,48 millones de onzas (Moz) AuEq. La recurso mineral inferido es de 198 Mt a 0,65 g/t AuEq para un adicional de 4,16 Moz AuEq. Esto representa un aumento del 117% en onzas equivalentes de oro indicadas en comparación con la MRE de 2022. La MRE actualizada incorpora los resultados de perforación de 2023, la interpretación geológica revisada y las suposiciones de corte actualizadas. El Proyecto Whistler incluye tres depósitos: Whistler, Raintree e Island Mountain, que juntos ocupan aproximadamente el 1% de las propiedades de la empresa. El programa de perforación de 2024 ha concluido, alcanzando 4,006 metros de perforación en 6 pozos, confirmando aún más el modelo geológico y extendiendo la mineralización. La fecha efectiva de la MRE actualizada es el 12 de septiembre de 2024.
U.S. GoldMining (NASDAQ: USGO)는 알래스카에 있는 Whistler 금-구리 프로젝트에 대한 업데이트된 광물 자원 추정치(MRE)를 발표했습니다. 현재 표시된 광물 자원은 0.68그램/톤(g/t) 금당량(AuEq)으로 294백만 톤(Mt)에 6.48백만 온스(Moz) AuEq입니다. 추정된 광물 자원은 0.65 g/t AuEq에 198 Mt로, 추가로 4.16 Moz AuEq입니다. 이는 2022년 MRE와 비교해 표시된 금당량 온스가 117% 증가한 것입니다. 업데이트된 MRE는 2023년 드릴링 결과, 수정된 지질학적 해석 및 새로운 컷오프 등급 가정을 포함하고 있습니다. Whistler 프로젝트에는 Whistler, Raintree 및 Island Mountain의 세 개의 매장지가 있으며, 이들은 회사 소유지의 약 1%를 차지하고 있습니다. 2024년 드릴링 프로그램은 6개의 홀에서 4,006미터의 드릴링을 달성하며 종료되었으며, 이는 지질 모델을 더욱 확증하고 광물화를 연장했습니다. 업데이트된 MRE의 유효 날짜는 2024년 9월 12일입니다.
U.S. GoldMining (NASDAQ: USGO) a annoncé une mise à jour de l'estimation des ressources minérales (MRE) pour son projet d'or-cuivre Whistler en Alaska. La ressource minérale indiquée s'élève désormais à 294 millions de tonnes (Mt) à 0,68 grammes par tonne (g/t) équivalent or (AuEq) pour 6,48 millions d'onces (Moz) AuEq. La ressource minérale inférée est de 198 Mt à 0,65 g/t AuEq pour un complément de 4,16 Moz AuEq. Cela représente une augmentation de 117 % des onces d'or équivalent indiquées par rapport à l'MRE de 2022. L'MRE mise à jour intègre les résultats de forage de 2023, une interprétation géologique révisée et des hypothèses de coupure rafraîchies. Le projet Whistler comprend trois gisements : Whistler, Raintree et Island Mountain, qui occupent ensemble environ 1 % des terrains de l'entreprise. Le programme de forage 2024 a été achevé, atteignant 4 006 mètres de forage en 6 trous, confirmant davantage le modèle géologique et prolongeant la minéralisation. La date d'entrée en vigueur de l'MRE mise à jour est le 12 septembre 2024.
U.S. GoldMining (NASDAQ: USGO) hat eine aktualisierte Mineralressourcenschätzung (MRE) für sein Whistler Gold-Copper-Projekt in Alaska bekannt gegeben. Die angezeigte Mineralressource beträgt nun 294 Millionen Tonnen (Mt) bei 0,68 Gramm pro Tonne (g/t) Goldäquivalent (AuEq) für 6,48 Millionen Unzen (Moz) AuEq. Die vermutete Mineralressource beträgt 198 Mt bei 0,65 g/t AuEq für zusätzliche 4,16 Moz AuEq. Dies stellt einen Anstieg von 117 % der angegebenen Goldäquivalent-Unzen im Vergleich zur MRE von 2022 dar. Die aktualisierte MRE berücksichtigt die Bohrergebnisse von 2023, überarbeitete geologische Interpretationen und aktualisierte Cut-off-Grenzen. Das Whistler-Projekt umfasst drei Lagerstätten: Whistler, Raintree und Island Mountain, die zusammen etwa 1 % des Unternehmensbesitzes ausmachen. Das Bohrprogramm für 2024 wurde abgeschlossen und erreichte 4.006 Meter Bohrungen in 6 Löchern, wodurch das geologische Modell weiter bestätigt und die Mineralisierung ausgeweitet wurde. Das effektive Datum der aktualisierten MRE ist der 12. September 2024.
- Indicated mineral resource increased by 117% to 6.48 Moz AuEq.
- Inferred mineral resource stands at 4.16 Moz AuEq.
- 2024 drilling program achieved 4,006 meters in 6 holes, confirming geological model.
- High-grade core offers potential for low strip ratio, higher-grade starter-pit scenarios.
- Inferred resources are subject to high geological uncertainty and economic feasibility.
Insights
- 117% increase in indicated resources compared to 2022 estimate
- High-grade core identified with potential for low strip ratio starter pit
- Project contains three Au-Cu-Ag porphyry deposits on only 1% of land holdings
- 12 additional exploration targets identified nearby
The updated resource estimate incorporates 2023 drilling results and revised geological modeling. The high-grade core offers flexibility for potential mine development scenarios. With
This major resource increase significantly de-risks the project and enhances its economic potential. The company's systematic exploration approach is yielding results, with multiple targets still to be tested. Overall, this update materially improves the outlook for U.S. GoldMining and the Whistler Project.
- Increased scale improves potential project economics and attractiveness to partners/acquirers
- High-grade core optionality could reduce initial capital requirements
- Exploration upside remains with only 1% of land package explored
- Strong precious metals prices support robust valuations
With a market cap of only
Highlights:
- 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 an additional 4.16 Moz AuEq
- Estimated gold equivalent ounces in the indicated category have increased by approximately
117% compared to the 2022 MRE* - The MRE was constrained using a series of conceptual pit design shells for the Whistler deposit, which assumed a first phase with an estimated 22.4 Mt of mineralized material at a grade of 1.04 g/t AuEq and a strip ratio of 0.08:1 (waste:ore)
- The three Au-Cu-Ag porphyry deposits comprised within the Whistler MRE - Whistler, Raintree and Island Mountain - occupy approximately
1% of the Company's land holdings and occur within a cluster of high priority targets sharing key geological characteristics with the known deposits, thereby highlighting the broader exploration potential of the Project- The Company is currently systematically exploring nearby targets within the 'Whistler Orbit' where an additional 12 potential targets remain under-explored
- The 2024 Whistler MRE encompasses 2023 drilling as reported earlier this year (see news release January 16, 2024), including the initial intercept contained within WH23-03 which comprised 547 m at 1.06 g/t AuEq
- It does not include recently reported confirmatory assays from the re-entry of WH23-01 drilled in 2024 (see announcement September 30, 2024) and which included the extension of the mineralized intercept to 652.5m at 1.00 g/t AuEq
- The 2024 core drilling program has now concluded, achieving 4,006 meters of drilling in 6 holes.
Tim Smith, Chief Executive Officer of U.S. GoldMining, commented: "In less than one-and-a-half years since completing our initial public offering, U.S. GoldMining's exploration initiatives have resulted in strengthened confidence in the mineral resource estimate for its flagship Whistler Deposit by increasing estimated gold equivalent ounces in the indicated category by
Since the mineral resource estimate was updated, additional results of the 2024 program have been received including the extension of the WH23-03 mineralized intercept to 652.5m at 1.00 g/t AuEq, further confirming the continuity of mineralization within the high-grade core. Our recently completed 2024 drilling program within the Whistler deposit further confirmed the geological model while drill testing below the current mineral resource block model for additional potential extensions of the mineral system. We look forward to receiving additional results from the 2024 drill hole assays which we believe will continue to support the Project's potential to host a long-life, high-quality gold-copper-silver mine located in one of the most favorable mining jurisdictions in
Updated Mineral Resource Estimate Overview
The MRE was based on 43,096 meters of drill data available as of January 16, 2024, (refer to the Company's news release dated January 16, 2024, for further details), prior to the commencement of the Company's ongoing 2024 drill campaign. The author of the report conducted a site visit August 6, 2024, which included collection of independent duplicate samples for umpire laboratory analysis. The Effective Date for the updated MRE is September 12, 2024. The MRE is constrained within a revenue factor 1.5 pit shell and reported above a
The October 2024 updated Whistler MRE incorporates:
- Revised mineral resource reporting at
US /tonne cut-off (previously the 2022 MRE was reported at$10 US /t) and using below 3-year trailing average commodity assumptions of$10.50 US /oz Au,$1,850 US /lb Cu and$4.00 US /oz Ag, across all three Project deposits: Whistler, Raintree and Island Mountain (see Figure 1).$23 - The addition of three 2023 diamond core drill holes for 1,674 meters of drilling within the namesake Whistler Deposit (see Figure 2), with revisions to the geological interpretation and three dimensional mineralization modelling.
The following table sets forth a summary of the Whistler 2024 MRE update.
Table 1: Mineral Resource Estimate for the Total Whistler Project (Effective date: September 12, 2024)
Class | Deposit | Cut-off | ROM | In situ Grades | In situ Metal | |||||||
(US$/t) | (ktonnes) | NSR | AuEqv | Au | Cu | Ag | AuEqv | Au | Cu | Ag | ||
Indicated | Whistler Pit | 10 | 282,205 | 22.84 | 0.68 | 0.41 | 0.16 | 1.89 | 6,201 | 3,724 | 999 | 17,166 |
Raintree Pit | 10 | 8,905 | 21.08 | 0.63 | 0.46 | 0.08 | 4.81 | 180 | 131 | 16 | 1,378 | |
Indicated Open Pit | varies | 291,410 | 22.79 | 0.68 | 0.41 | 0.16 | 1.98 | 6,381 | 3,855 | 1,015 | 18,544 | |
Raintree UG | 25 | 3,064 | 34.41 | 1.03 | 0.79 | 0.13 | 4.49 | 101 | 78 | 9 | 443 | |
Total Indicated | varies | 294,474 | 22.91 | 0.68 | 0.42 | 0.16 | 2.01 | 6,482 | 3,933 | 1,024 | 18,987 | |
Inferred | Whistler Pit | 10 | 18,224 | 21.01 | 0.63 | 0.40 | 0.13 | 1.75 | 368 | 233 | 54 | 1,025 |
Island Mountain Pit | 10 | 124,529 | 18.21 | 0.54 | 0.45 | 0.05 | 1.02 | 2,180 | 1,817 | 139 | 4,084 | |
Raintree Pit | 10 | 15,056 | 23.12 | 0.69 | 0.55 | 0.06 | 4.36 | 335 | 267 | 21 | 2,112 | |
Inferred Open Pit | varies | 157,809 | 19.00 | 0.57 | 0.45 | 0.06 | 1.42 | 2,883 | 2,317 | 214 | 7,221 | |
Raintree UG | 25 | 40,432 | 32.81 | 0.98 | 0.76 | 0.12 | 3.31 | 1,275 | 994 | 103 | 4,300 | |
Total Inferred | varies | 198,241 | 21.82 | 0.65 | 0.52 | 0.07 | 1.81 | 4,158 | 3,311 | 317 | 11,521 |
Notes to Table 1:
1. | Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resources will be converted into mineral reserves. |
2. | Inferred mineral resources are subject to uncertainty as to their existence and as to their economic and legal feasibility. The level of geological uncertainty associated with an inferred mineral resource is too high to apply relevant technical and economic factors likely to influence the prospects of economic extraction in a manner useful for evaluation of economic viability. |
3. | The Mineral Resource Estimate for the Whistler, Island Mountain, and the upper portions of the Raintree West deposits have been confined by an open pit with "reasonable prospects of economic extraction" using the following assumptions: |
• Metal prices of | |
• Payable metal of | |
• Refining costs for Au of | |
• Offsite costs for Au of | |
• Royalty of | |
• Pit slopes are 50 degrees; | |
• Mining cost of | |
• Processing, general and administrative costs of | |
4. | The lower portion of the Raintree West deposit has been constrained by a mineable shape with "reasonable prospects of eventual economic extraction" using a |
5. | Metallurgical recoveries are: |
6. | The NSR equations are: below 10g/t Ag: NSR (US$/t)=( |
7. | The Au Equivalent equations are: below 10g/t Ag: AuEq=Au + Cu*1.771 +0.0113Ag, and above 10g/t Ag: AuEq=Au + Cu*1.771 |
8. | The specific gravity for each deposit and domain ranges from 2.76 to 2.91 for Island Mountain, 2.60 to 2.72 for Whistler with an average value of 2.80 for Raintree West. |
9. | The SEC definitions for Mineral Resources in S-K 1300 were used for Mineral Resource classification which are consistent with Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards for Mineral Resources and Mineral Reserves (CIM (2014) definitions). |
10. | Numbers may not add due to rounding. |
Additional details of the mineral resource estimate are set forth in the S-K 1300 Report titled "S-K 1300 Technical Report Summary Initial Assessment for the Whistler Project", Effective Date 12 September 2024 and Date of Issue 7 October 20204, a copy of which is available under the Company's profile at www.sec.gov. The Company plans to file a Canadian National Instrument 43-101 ("NI 43-101") technical report within 45 days of the date hereof.
*For comparison, the previous 2022 MRE (Effective Date September 22, 2022) comprised 118 Mt at 0.79 g/t AuEq for 2.99 Moz AuEq Indicated resources, and 317 Mt at 0.63 g/t Au for 6.45 Moz AuEq Inferred resources, at a
Whistler Project High-Grade Core
The updated 2024 Whistler MRE is underpinned by a significant component of higher-grade mineralization within the core of the three deposits. Table 2 illustrates the MRE at a range of cut-offs which provide optionality for potential future mine development scenarios. For example, using an elevated cut-off value of
- 134 Mt at 0.98 g/t AuEq for 4.2 Moz AuEq Indicated (includes Raintree UG resource)
- 87 Mt at 0.96 g/t AuEq for 2.7 Moz AuEq Inferred (includes Raintree UG resource)
Class | Source | Cutoff | ROM | In situ Grades | In situ metal | |||||||
(US$/t) | (ktonnes) | NSR | AuEqv | Au | Cu | Ag | AuEqv | Au | Cu | Ag | ||
Indicated | Open Pit | 6 | 333,200 | 20.98 | 0.63 | 0.37 | 0.15 | 1.99 | 6,717 | 3,999 | 1,088,419 | 20,822 |
7 | 327,336 | 21.24 | 0.63 | 0.38 | 0.15 | 1.99 | 6,680 | 3,983 | 1,080,877 | 20,541 | ||
7.9 | 319,301 | 21.59 | 0.65 | 0.39 | 0.15 | 1.99 | 6,623 | 3,958 | 1,068,264 | 20,024 | ||
10 | 291,410 | 22.79 | 0.68 | 0.41 | 0.16 | 1.99 | 6,381 | 3,855 | 1,015,095 | 18,544 | ||
15 | 206,236 | 27.03 | 0.81 | 0.51 | 0.18 | 1.99 | 5,356 | 3,382 | 798,024 | 13,449 | ||
20 | 131,449 | 32.55 | 0.97 | 0.65 | 0.19 | 2.08 | 4,111 | 2,728 | 561,495 | 8,809 | ||
25 | 85,710 | 38.03 | 1.14 | 0.79 | 0.21 | 2.18 | 3,132 | 2,166 | 393,659 | 5,985 | ||
30 | 57,629 | 43.30 | 1.29 | 0.92 | 0.22 | 2.27 | 2,397 | 1,706 | 281,879 | 4,184 | ||
Underground | 25 | 3,064 | 34.41 | 1.03 | 0.79 | 0.13 | 4.49 | 101 | 78 | 8,613 | 443 | |
Total | varies | 294,474 | 22.91 | 0.68 | 0.42 | 0.16 | 2.02 | 6,482 | 3,933 | 1,023,708 | 18,987 | |
Inferred | Open Pit | 6 | 247,250 | 14.99 | 0.45 | 0.36 | 0.05 | 1.24 | 3,563 | 2,827 | 276,142 | 9,874 |
7 | 222,529 | 15.94 | 0.48 | 0.38 | 0.05 | 1.28 | 3,408 | 2,718 | 260,061 | 9,168 | ||
7.9 | 202,534 | 16.78 | 0.50 | 0.40 | 0.06 | 1.31 | 3,267 | 2,614 | 245,757 | 8,536 | ||
10 | 157,809 | 19.00 | 0.57 | 0.45 | 0.06 | 1.43 | 2,883 | 2,317 | 213,970 | 7,221 | ||
15 | 83,445 | 24.97 | 0.75 | 0.60 | 0.08 | 1.74 | 2,003 | 1,611 | 149,376 | 4,638 | ||
20 | 46,184 | 31.30 | 0.94 | 0.76 | 0.10 | 1.98 | 1,389 | 1,129 | 99,917 | 2,923 | ||
25 | 28,112 | 37.12 | 1.11 | 0.91 | 0.11 | 2.19 | 1,003 | 827 | 68,000 | 1,983 | ||
30 | 16,408 | 44.16 | 1.32 | 1.11 | 0.12 | 2.35 | 696 | 590 | 41,316 | 1,242 | ||
Underground | 25 | 40,432 | 32.81 | 0.98 | 0.76 | 0.12 | 3.31 | 1,275 | 994 | 102,953 | 4,300 | |
Total | varies | 198,241 | 21.82 | 0.65 | 0.52 | 0.07 | 1.81 | 4,158 | 3,311 | 316,923 | 11,521 |
In particular, the flagship Whistler Deposit contains a high-grade core defined by coincident approximately ≥0.40 g/t gold and ≥
PIT PHASE | CLASS | Mineralized | NSR | AuEQ | Au | Cu | Ag | In Situ | Waste | Strip Ratio |
(ktonnes) | (US$/tonne) | (g/t) | (g/t) | ( %) | (g/t) | (AuEq koz) | (ktonnes) | Waste:Minz | ||
PHASE 1 | Indicated | 22,425 | 34.81 | 1.04 | 0.65 | 0.23 | 2.30 | 750 | 1,776 | 0.08 |
Inferred | - | - | - | - | - | - | --- | |||
PHASE 2 | Indicated | 42,703 | 29.4 | 0.88 | 0.56 | 0.19 | 2.00 | 1,206 | 17,684 | 0.41 |
Inferred | 910 | 16.28 | 0.49 | 0.26 | 0.13 | 2.00 | 14 | |||
PHASE 3 | Indicated | 106,892 | 23.71 | 0.71 | 0.43 | 0.16 | 1.80 | 2,435 | 117,922 | 1.04 |
Inferred | 6,722 | 22.39 | 0.67 | 0.44 | 0.14 | 1.70 | 145 | |||
PHASE 4 | Indicated | 69,425 | 17.61 | 0.53 | 0.29 | 0.14 | 1.80 | 1,175 | 145,808 | 1.96 |
Inferred | 4,944 | 19.81 | 0.59 | 0.36 | 0.14 | 1.60 | 94 | |||
PHASE 5 | Indicated | 41,061 | 16.08 | 0.48 | 0.257 | 0.13 | 1.8 | 634 | 238,127 | 5.10 |
Inferred | 5,648 | 21.18 | 0.633 | 0.409 | 0.13 | 1.9 | 115 | |||
Total Indicated | 282,506 | 22.84 | 0.68 | 0.41 | 0.16 | 1.87 | 6,201 | 521,317 | 1.73 | |
Total Inferred | 18,224 | 21.01 | 0.63 | 0.40 | 0.13 | 1.75 | 368 |
Whistler Project Geology
The Whistler Deposit is hosted within the Whistler Intrusive Suite (see Figure 2), a composite suite of diorite stocks and dykes with cross-cutting relationships that divide the suite broadly into an early Main Stage Porphyry ("MSP"), a later cross-cutting Intermineral Porphyry Suite ("IMP") and the latest cross-cutting intrusive phase referred to as the Late Stage Porphyry ("LSP"). Gold and copper mineralization is characterized by presence of disseminated sulphide and quartz + sulphide vein stockworks (including classic porphyry diagnostic 'A', 'B', 'D', and 'M' type veins), and potassic alteration which is variably overprinted by later phyllic alteration. The early-stage MSP suite is most strongly altered, veined and mineralized, with the IMP being less intensely altered and veined but remaining consistently mineralized, and the late or post-mineralization LSP generally being below cutoff grade or unmineralized. The 'high-grade core' correlates with intense potassic alteration and highest frequency of A and B veining within the MSP.
Based on re-logging of historical drill core in conjunction with the 2023 drilling program, the Whistler Deposit three-dimensional geological model was re-interpreted to include adjustments to geometry, extents and continuity of the MSP, IMP and LSP suites. These were used as a guide to create mineralization shells for both Au-Ag and Cu separately. The shells include a higher grade 'core', with lower grade shells also generated to constrain both Au-Ag and Cu mineralization. A significant change in the 2024 geological model is the removal of the 'Divide Fault', which defined a hard boundary between geological and geostatistical domains in previous iterations of the Whistler deposit model. Relogging and 2023 drilling has confirmed there is no compelling evidence for this fault, thus the previously modelled Divide Fault is no longer seen to influence the mineralization. Subsequently, gold and copper grade shells have been constructed to constrain the Whistler Deposit mineral block model, honoring the geological boundaries defined by the limits of the productive MSP and ISP, and taking into account the weakly to non-mineralized LSP.
Mineralization at Raintree West occurs as two main types: 1) porphyry-style gold-copper mineralization hosted by diorite porphyry stocks and consisting of quartz and magnetite stockwork veining, with vein and disseminated chalcopyrite associated with potassic alteration, and 2) later cross-cutting silver-gold-lead-zinc mineralization in quartz-carbonate veins with occasional banded epithermal-like textures. The early gold-copper mineralization is best developed within, and controlled by, early diorite porphyry intrusions (akin to MSP at the Whistler Deposit), whereas the later silver-gold-lead-zinc veins surround and locally overprint the porphyry mineralization and are most abundant in the host andesitic composition volcanic.
The Island Mountain deposit, located 20 km south of the Whistler-Raintree deposits, is comprised of a suite of nested intrusions, ranging compositionally from hornblende diorite to hornblende-biotite monzonite, with mineralization occurring predominantly within the 'Breccia Zone', comprising intrusive breccias occurring as sub-vertical 100-150 m diameter 'pipes' with pyrrhotite-pyrite-chalcopyrite mineralization, that host the bulk of gold-copper porphyry mineralization.
Visit www.usgoldmining.us for more information, including high resolution figures and Technical Reports.
Technical Information
The disclosure herein, including relating to mineral resource estimates, has been prepared in accordance with the requirements of Canadian securities laws, as set forth in NI 43-101, which references the guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") classification system, the CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, and in accordance with the requirements found in S-K 1300.
The technical work of the 2024 Whistler Project MRE was completed by Sue Bird, P.Eng., of Moose Mountain Technical Services ("MMTS"), an independent qualified person as defined by NI 43-101 and S-K-1300. Sue Bird has reviewed, verified and approved the technical information related to the MRE in this news release.
Tim Smith, P.Geo., Chief Executive Officer of U.S. GoldMining, has supervised reviewed and approved the preparation of all other scientific and technical information contained herein. Mr. Smith is a qualified person as defined by NI 43-101 and S-K 1300.
About U.S. GoldMining Inc.
U.S. GoldMining Inc. is an exploration and development company focused on advancing the
Forward-Looking Statements
Except for the statements of historical fact contained herein, the information presented in this news release constitutes "forward-looking statements" within the meaning of
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SOURCE U.S. GoldMining Inc.
FAQ
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