With the approval of the Mine Operating Permit on April 29, 2024, work on the Prefeasibility Study (PFS) update resumed in June 2024. As a result of changes related to permit commitments and ongoing engineering optimization studies to enhance project economics, the Company deems it highly beneficial to consider the results of these studies prior to completing the updated PFS. With gold, copper, and silver prices approaching historic highs, far and above the original PFS of December 2021, management believes the time to optimize plant and operations is the present, as equity markets in the junior sector trail a new reality and a durable and well-thought-out mining operation is established.
Set out below are opportunities under consideration.
Engineering Studies Underway:
Tailings Management Facility (TMF) Optimization: In a review of the stacking sequence and access roads to the TMF, the Company hired Tierra Group International (TGI), a
Additional Insight: By optimizing the TMF, U.S. Gold Corp. can enhance the operational efficiency of the CK Gold Project, leading to cost savings and potentially increasing the overall profitability of the project.
Water Management Plan: The Company has been evaluating ways to improve water harvesting within the property boundary and storage capacity, aiming to reduce the amount of makeup water needed to be purchased for the operation.
Process Plant Trade-off Study: U.S. Gold Corp. is exploring alternative flotation cell technology to enhance metal recoveries, reduce capital costs, and lower operating expenses.
In commenting on the engineering studies, George Bee, President and CEO said, “The time to make changes to a project is during the initial engineering so that the Feasibility Study (FS) is well thought out and durable.”
Insight into Future Value:
Luke Norman, Chairman, highlighted the importance of exploring different technologies to increase the economic framework of the mine. Additionally, he mentioned potential revenue streams from commercializing extracted rock and alternative closure scenarios that could benefit both the company and the state.
About U.S. Gold Corp.
U.S. Gold Corp. is a publicly traded,
Safe Harbor
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has based these forward-looking statements on its current expectations and assumptions about future events. The Company undertakes no duty to correct or update any information contained herein.
For additional information, please contact:
U.S. Gold Corp. Investor Relations:
+1 800 557 4550
ir@usgoldcorp.gold
View original content to download multimedia:
SOURCE U.S. Gold Corp.
