US GoldMining Inc. Initiates Drilling at Whistler Gold-Copper Project in Alaska
ANCHORAGE, Alaska, June 27, 2024 /CNW/ – U.S. GoldMining Inc. (NASDAQ: USGO) (“U.S. GoldMining” or the “Company”) has announced the commencement of drilling at its 100% owned Whistler Gold-Copper Project for the 2024 field season in Alaska. The focus of the program is on confirmatory infill and step-out drilling within the Whistler and Raintree West deposits at the Project.
Detailed Exploration Plans
The Whistler Project includes four mineral deposits, each containing a considerable amount of gold equivalent ounces. The current indicated category holds 2.99 million AuEq ounces, while the inferred category boasts 6.45 million AuEq ounces.
2024 Drilling Program Updates
The drilling program has initiated at the Raintree West deposit, aiming to expand the known mineral extents and enhance the existing geological model. Additionally, drilling at the Whistler deposit aims to delineate and extend high-grade mineralized areas. Exploration activities are planned to test drill targets within the Whistler Orbit, anticipating the discovery of more mineralized centers.
Increased Field Time and Financial Flexibility
The Company’s strong financial position, with over $10 million in cash and no debt as of March 31, 2024, provides the necessary flexibility to conduct an extensive drilling program. By starting the drilling process two months earlier than the previous year, U.S. GoldMining aims to maximize the summer season for productive exploration activities.
Further Resource Estimate Details
The consolidated mineral resource estimate for the Project, outlined in Table 1, demonstrates the significant potential of the Whistler Project. The Company is focused on advancing the existing mineral resources through strategic exploration and drilling efforts.
Forward-Looking Statements and Technical Expertise
Tim Smith, Chief Executive Officer of U.S. GoldMining, has overseen the preparation of this news release and provided technical insights. It’s important to note that forward-looking statements carry inherent uncertainties and risks, which the Company acknowledges and aims to mitigate through careful planning and execution.
About U.S. GoldMining Inc.
U.S. GoldMining Inc. is committed to advancing the Whistler Gold-Copper Project, leveraging its extensive land package and exploration targets. With a focus on responsible mining practices and resource expansion, the Company seeks to deliver long-term value to stakeholders.
For more information on U.S. GoldMining Inc. and the Whistler Gold-Copper Project, visit www.usgoldmining.us
