First Phase Of Targeted Drilling Program At The Keystone Project

ELKO, NV - U.S. Gold Corp. has commenced the first phase of its previously announced targeted drilling program at its Keystone project on the Cortez Trend, Nevada. This exploration drilling program is expected to consist of an initial phase of 9 reverse circulation (RC) holes and 1 core hole for a total of approximately 20,000 feet.  The first phase will focus on specific targets identified through detailed geology, geochemistry, geophysics and drilling throughout the 650 lode claims covering 20 square miles of mineral rights.

Drilling targets identified through comprehensive technical studies and mapping are described in reports previously released and available on the U.S. Gold Corp. website.  All permits have been obtained, including Bureau of Land Management approvals.  The phase one program is expected to take approximately two months.  Phase one drilling will focus on the Sophia, Tip Top and Nina Skarn target areas.

Core and chip samples are expected to be assayed, and the results released once they have been analyzed and interpreted.  A second phase drilling campaign, building on the results of this first phase program, is planned for later in the year.

Ken Coleman, Keystone Project Geologist said, "Our summer 2019 phase one Keystone program is the beginning of our important target and gold deposit discovery stage in the Keystone exploration program.  We have started our 2019 summer exploration efforts with a core hole to follow up on the encouraging results of hole Key18-09rc drilled in the Sophia target area last autumn.   Our team has been in the process of locating, qualifying and prioritizing site-specific, drill-hole target opportunities within the target encompassing areas that we have previously identified.  We are now seeking the all-important high-grade gold zones that comprise potential economic deposits within this broad district-scale Carlin-style gold system.  The economically important core portions of gold deposits tend to be rather small and tightly size-restricted targets, generally proximal to, and within feeder structures or their intersections.  We realized early on we were working on a large, robust Carlin-style gold system. Over the last 3 years, we have scientifically added to the very large voids in much of the historic data that we began with.  All the prior drilling to date has provided encouraging results.

The excellent host characteristics of Devonian Horse Canyon and Wenban, and the upper Devonian and Silurian Roberts Mountains Formations, are now well-established.  In addition, the identification of Cambrian-Ordovician Comus Formation within broad parts of the property has expanded the potential host rock thicknesses we can explore.  Large bodies of dissolution-related collapse breccias with associated hydrothermal styles of alteration, including silicification, decalcification, argillization, and sulfidation; multiple types and styles of system-related dikes and sills; and local, very strong pathfinder elements, including the presence of locally abundant arsenopyrite, realgar, and orpiment, have been encountered in the previous drilling.  We are pleased to commence our 2019 first phase exploration drilling program with concerted, iterative target-specific drilling.  Our whole team is encouraged with our results to date and we are confident we are vectoring in on discovery success."   

The company’s address is 205 S 11th Street, Elko, NV 89801, 205 S 11th Street, Elko, NV 89801, (800) 557-4550, www.usgoldcorp.gold.