Proposal To Upgrade Copper King To A Pre-Feasibility Study

ELKO, NV – U.S. Gold Corp. has received a proposal to upgrade the Copper King Preliminary Economic Assessment (PEA) to a Pre-Feasibility Study (PFS) with the objective of completing the PFS by the end of 2020. Copper King, located in the Silver Crown mining district of southeast Wyoming and approximately 20 miles west of Cheyenne.

President and CEO Mr. Edward Karr said, “We are pleased with the progress of the Copper King project in 2020 and have made several trips to the property last year to advance the project from a permitting, development, and community outreach standpoint.  We are looking forward to working with Marc Levier and Mark Jorgensen to advance the Copper King deposit to the PFS level.  This PFS is expected to be a major milestone in moving Copper King towards production.  We have some of the leading consultants working with us for resource modeling and metallurgical testing.  The existence of silver in the Copper King deposit could give further upside to the overall economics and will be analyzed thoroughly in the PFS.”  

In 2017 and 2018, U.S. Gold Corp. conducted geophysical studies at Copper King and drilled additional exploration holes.  Several of these holes hit additional mineralization, and it has been shown the deposit has increased to the west.  In addition, the Data mine analysis conducted in early 2019 shows the presence of economic grade silver not previously accounted for the in the PEA economics.  The Data mine model shows the deposit is open at depth, appears to be open laterally to the southeast, and has poorly defined margins.  Extending the deposit along strike to the southeast will be the focus of future exploration efforts.