Gold Bar Drilling Returns 0.06 Opt Gold Over 75 Feet
Drilling at the Gold Bar Project occurred primarily in three separate areas: 1) West Pick, 2) East Pick, and 3) North Ridge.
Several holes at West Pick encountered good results, with the best holes returning 0.060 opt (2.05 gpt) gold over 75 ft (22.9 m) and 0.027 opt (0.94 gpt) gold over 180 ft (54.9 m) in step-out drilling southwest of the existing resource. Drilling this season has achieved the objective of closing the 750 ft (230 m) gap between the Pick and Ridge deposits. Mineralization at the Gold Bar Project has a total strike length of over 6,500 ft (2,000 m).
Three-dimensional modeling by US Gold geologists has led to the identification of an unconformity (erosional surface) between the basement and gold host rocks at the Gold Bar Project. Channels in this unconformity were filled with porous limestone, which then acted as preferred pathways for gold mineralization. These channels are present in the West Pick area where US Gold has encountered significant mineralization, including the best results announced earlier this year of 0.085 opt (2.9 gpt) gold over 150 ft (45.7 m) and 0.065 opt (2.24 gpt) gold over 120 ft. (36.6 m). Additional channels in this area are targets for exploration in 2010.
At Eastpick, recent drilling encountered a good result of 0.065 opt (2.23 gpt) gold over 30 ft (9.1 m), further expanding the mineralization encountered in hole GB68 released on September 9th, 2009, which returned 0.070 opt (2.39 gpt) gold over 105 ft (32.0 m). US Gold geologists are evaluating these results to determine the potential for additional mineralization to the east of the Pick resource.
The best result encountered 0.044 opt (1.5 gpt) gold over 50 ft (15.2 m) in an area where six historic drill holes intersected mineralization with an average grade and width of 0.032 opt (1 gpt) gold over 63 ft (19.2 m). Previously there was insufficient drilling in this area to define a resource; however, now it will be included in the updated resource estimate. Hole GB105 intercepted scattered mineralization over a vertical distance of 250 ft (76 m), indicating that a wide section of favorable host rocks are present.
Several targets outside the Gold Bar Project will be drilled this winter. Targets include properties close to Goldcorp's Marigold Mine, and US Gold's Limo Project where drilling earlier this year encountered an encouraging previously unannounced intercept of 0.055 opt (1.88 gpt) gold over 115 ft (35.1 m). In total, US Gold expects to drill a minimum of 15,000 ft (4,500 m) in
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