U.S. GoldMining Commences Drilling at the Whistler Gold-Copper Project, Alaska
2024 Exploration Drilling Program Commenced
- Confirmatory infill drilling has commenced at the Raintree West deposit with the aim to advance the geological model and test the deposit beyond its currently known mineral extents.
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Drilling is also planned for the Whistler deposit with the aim of further delineating and extending areas of high-grade mineralization, building upon the success of the 2023 drilling program which returned the longest drill intercept of consistent mineralization ever recorded at the project:
- WH23-03 intersected 547.15 meters at 1.06 grams per tonne (g/t) AuEq, comprised of 0.77 g/t gold (Au), 0.17% copper (Cu) and 1.55 g/t silver (Ag), from 53.0 meters depth to end of hole at 600.15 meters (see
U.S. GoldMining news release datedJanuary 16, 2024 , for further information).
- WH23-03 intersected 547.15 meters at 1.06 grams per tonne (g/t) AuEq, comprised of 0.77 g/t gold (Au), 0.17% copper (Cu) and 1.55 g/t silver (Ag), from 53.0 meters depth to end of hole at 600.15 meters (see
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Surface exploration activities are expected to test drill targets within the broader
Whistler Orbit , a classic 'porphyry cluster' with potential to discover additional mineralized intrusive centers.
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1
Cash position as at |
2024 Drilling Program Details
As reported on
The first hole is underway at the Raintree West deposit (see Figure 1). The initial confirmatory infill drill holes at Raintree West will aim to elucidate the geological model and to also provide the potential to expand the existing pit constrained gold-copper mineral resource.
Table 1:
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|
|
Grade |
Contained Metal |
|||||||||||||||
Classification |
Cut off |
Million |
Gold g/t
|
Silver g/t
|
Copper %
|
AuEq(1) g/t
|
Gold Moz
|
Silver Moz
|
Copper Mlbs
|
AuEq(1) Moz
|
|||||||||
Indicated |
10.50 |
118.2 |
0.51 |
2.19 |
0.16 |
0.79 |
1.94 |
8.33 |
422.0 |
2.99 |
|||||||||
Inferred |
10.50 |
317.0 |
0.46 |
1.58 |
0.10 |
0.63 |
4.67 |
16.06 |
711.0 |
6.45 |
(1) |
AuEq was calculated based on the following equation: below 10 g/t Ag: AuEq = Au + Cu * 1.5733 + 0.0108 Ag, and above 10 g/t Ag: AuEq=Au + Cu * 1.5733. |
(2) |
The estimation of indicated mineral resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable mineral reserves, and therefore investors are cautioned not to assume that all or any part of indicated mineral resources will ever be converted into mineral reserves. The estimation of inferred mineral resources involves greater uncertainty as to their existence and economic viability than the estimation of other categories of mineral resources. |
Please refer to the "S-K 1300 Technical Report Summary Initial Assessment for the
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Visit www.usgoldmining.us for more information, including high resolution figures and to view the Company's VRIFY presentation which displays 3D drill assays and resource models.
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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