Our CK Gold Project is located in Southeast Wyoming and has a Preliminary Feasibility Study technical report
U.S. Gold Corp. (Nasdaq: USAU) (the "Company", "we" or "our"), a copper and gold exploration and development company, released information regarding gold and copper concentrate quality from its CK Gold Project, (the "Project") located near Cheyenne, Wyoming.
Management is pleased to report that metallurgical testing at the Project site has produced a gold and copper concentrate desirable to smelter-refinery operators due to the quality of its gold and copper content and absence of some of the common penalty elements. The concentrates will be shipped off-site to a smelter for further processing and blending with other concentrates. Metal extraction that takes place off-site at an established smelter is an indication that very few chemicals are utilized at site.
Additionally, there will be no emissions at the site associated with smelting and refining.
Kevin Francis, our Vice President of Exploration and Technical Services said, "We have done extensive testing and are pleased with the metallurgical work completed to date on the sample concentrate analysis. It was a pleasure to work with Mr. Michael Mason, a 45-year veteran of the smelting and refining business, who has been assisting us with recommendations for marketing the CK Gold Project concentrate and providing insight to its value. Mr. Mason has operated smelters and traded concentrates to meet smelter demands and his expertise has served to be invaluable."
Mr. Mason, in commenting on the CK Gold Project concentrate sample, said, "With a high relative level of gold content in the copper concentrate, the absence of arsenic and very low levels of other deleterious elements such as mercury, I expect that CK Gold Project concentrate will be a desirable feedstock to smelters always on the lookout for material that will enhance options for production. The gangue minerals in the CK Gold Project concentrate have favorable characteristics as a flux medium further adding to the desirability of the concentrate."
The Project's mineral processing facility is composed of a jaw crusher, semi-autogenous and ball mill grind with froth floatation and cleaning. The nominal throughput rate for the facility is 20,000 tons per day and on average, approximately 170 tons per day of concentrated product is projected to be generated for sale to North American or overseas customers. During operation, the mine anticipates shipping over 450,000 tons of sulfide concentrate off-site for refining.
The filtered sulfide concentrate is anticipated to include <10% moisture content and solids containing copper, gold and silver-bearing minerals.
Based on extensive metallurgical test work, the sulfide concentrate will be a clean product that will be in demand for its high gold content and lack of deleterious metals. The exact metal content will vary over the mine life, but on average, per our prefeasibility study (released December 1, 2021), the concentrate will contain approximately 19% copper, 1.5 oz/ton gold and 1.7 oz/ton silver. The balance of concentrate mass will be made up of chalcopyrite and gangue minerals such as quartz. This composition, together with the near total absence of any deleterious elements, makes the concentrate an attractive product for sale in very well-established international markets.
The copper market is expected to remain strong – bolstered by ongoing demand for electric vehicles, wind turbines and other CO2 mitigating technologies.
Final offtake contracts have yet to be settled, but the Project anticipates sales to one of a number of domestic copper smelters, which means that transportation of product by road is viable. The nearest facility is the Kennecott Utah smelter, near Salt Lake City, Utah and this is the most logical destination for the product. Other facilities are located in Arizona and eastern Canada.
About U.S. Gold Corp.
U.S. Gold Corp. is a publicly traded, U.S. focused gold and copper exploration and development company. U.S. Gold Corp. has a portfolio of exploration properties. Our CK Gold Project is located in Southeast Wyoming and has a Preliminary Feasibility Study technical report, which was completed by Gustavson Associates, LLC. Our Keystone exploration property is on the Cortez Trend in Nevada. Our Challis Gold Project is located in Idaho.
For more information about U.S. Gold Corp., please https://www.usgoldcorp.gold/.
Source: US Gold Corp.
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