en.Wedoany.com Reported - U.S. Gold Corp (Nasdaq: USAU) has completed a drone magnetometer survey covering over 325 line kilometers at its CK Gold Project in southeastern Wyoming, with results pointing to potential new gold and copper mineralization zones near the existing pit design. The method aims to identify potential rock structures at low cost, providing targets for subsequent drilling programs.
The company's flagship asset, the CK Gold Project, already has a feasibility study prepared by Halyard-Micon International, Inc. and is fully permitted. Management links the project area to the historic Silver Crown Mining District, which once produced high-grade ore. The core of this survey involved using a drone-mounted magnetometer to collect ground magnetic signals at an average altitude of 32 meters above ground, identifying rock structures that may contain metals. Zonge International, Inc. of Reno, Nevada, executed the flight mission. The survey results confirmed and expanded upon magnetic patterns first observed in a 2017 ground survey, revealing new rock structures and magnetite alteration zones that may contain gold and copper. These anomalies are distributed along a northwest-trending structural fabric in the rock, with signals southeast of the Copper King mine aligning with known mineralization trends but covered by a younger layer of the Oligocene White River Formation. The company stated that this cover layer did not weaken the underlying signal strength.
Wright Geophysics has been engaged to conduct a more advanced interpretation of the magnetic data, while Zonge plans to carry out follow-up gravity surveys in the same area in late July. Kevin Francis, Vice President of Exploration and Technical Services at U.S. Gold Corp, expressed satisfaction with the identification of additional anomalies similar to those at the historic Copper King mine.
The core of the brownfield exploration strategy is that a project with a completed feasibility study, permits, and infrastructure can directly incorporate newly discovered mineralization into existing mining plans, avoiding the years of permitting and construction required for entirely new standalone projects. Compared to drilling, a drone magnetometer survey of this scale is also a low-cost target screening tool. President and Chief Executive Officer George Bee noted that with the initial feasibility study for the CK Gold Project already released and the project entering the development phase, the company's focus will shift to two areas: expanding the pit into known mineralization zones by converting resources into reserves, and exploring areas where original developers of the Silver Crown Mining District historically mined high-grade ore.
Currently, the magnetometer survey is complete, and Wright Geophysics is conducting data interpretation. Zonge's follow-up gravity survey is scheduled for late July, aiming to confirm which magnetic anomalies are located in areas similar to known ore-bearing rock types. The results of these two surveys will be used to develop a drilling program to test mineralization beneath the existing pit design and new targets outside the proposed boundaries. No drilling results have been reported yet, and the company has not disclosed a specific timeline for the start of drilling.
