Completion Of Geochemical Surveys On The Keystone Project

ELKO, NV - U.S. Gold Corp. reported the completion and compilation of the district-wide geochemical surveys on the Keystone project.  Commensurate detailed geological mapping is also nearing completion. The geochemical data, combined with earlier gravity and geophysical survey assessments, and scout drilling programs to date, will provide the necessary information to identify, and zero in on, site-specific discovery opportunities in 2018.  Highlights of these surveys include: The Company has completed comprehensive and effective blanket geochemical sample surveys covering the 20-square-mile Keystone district project area.  The sample database now comprises 4,225 soil samples, 2,250 rock samples, 649 fine-sediment stream samples, and 620 altered stream cobble samples. The primary purpose of the multifaceted 2017 geochemical surveys was to assist in identifying and defining site-specific gold targets to be drill tested in 2018. The highly anomalous geochemical levels and widespread distribution of metals being sought, in particular gold, along with associated pathfinder metals, demonstrates the potential presence of a very large, robust gold-bearing multi-metallic hydrothermal system at Keystone.  All current data indicate that the Keystone hydrothermal system is early Tertiary in origin and similar to those that host the major Carlin-type gold deposits in Nevada.  

A K-Ar on biotite age date on the Walti pluton yielded 34.1 +/- 0.7ma age; additional dating studies are in progress to further assess this clearly complex intrusive and eruptive magmatic Keystone hydrothermal system. An EA (Environmental Assessment) study for the purpose of expanded exploration commenced in early 2017 and is scheduled to be completed soon.  As a result, U.S. Gold Corp. will soon be able to start drilling in areas that have previously been inaccessible because of areal disturbance limitations.

Up to this point, most Keystone project drilling was considered to be "scout drilling" conducted to obtain 1) critical information related to host rock characteristics, 2) locations of specific host horizons within the approximately 3000-foot-thick prospective host rock package, and 3) gold deposit model characteristics and also to provide broad important gold system information.  Scout drilling results have indicated the size extent of the gold system and overall metal distribution is much larger than originally conceived.

Late 2016 through 2017 drilling was limited to access permitted through four individual 5-acre NOIs (Notices of Intent).  This areal disturbance limitation disallowed access to many of the targets that evolved through ongoing target synthetizations obtained from merging of all the various data sets. In spite of this limitation in prior drill access, considerable advancements in exploration understandings have resulted from the initial, rather wide-spaced scout hole drilling programs conducted to date.

Sixteen individual district-wide maps are provided; these maps individually exhibit the eight elements of Gold, Silver, Arsenic, Antimony, Mercury, Copper, Molybdenum and Zinc.  The fine-sediment stream and soil sample data are combined on one map, and the altered cobble and rock samples on the other for each element.  Prior to all the new soil and fine-sediment stream sampling, detailed orientation surveys were conducted for the purpose of determining an optimal representative-size fraction in order to mitigate the influence of evident wind-blown material dilution.