Mike Fagan,
Editor
Aug. 24, 2023
US GoldMining Inc. (NASDAQ: USGO) — currently trading around US$10.00 per share — has commenced exploration and mineral resource expansion drilling at the flagship, 100%-owned Whistler Gold-Copper Project in mining-friendly Alaska.
The resource-stage project benefits from over 70,000 meters of historical drilling and boasts potential for high-grade epithermal gold-copper mineralization in clusters similar to other large porphyry deposits in the area.
Phase-1 drilling is underway for an initial 5,000 meters of a fully-funded and fully-permitted 10,000-meter program aimed at:
- Expanding and increasing confidence in the existing gold-copper deposits at Whistler
- Testing prospective exploration targets for potential discovery of additional gold-copper porphyry mineral deposits in close proximity to existing mineralization
- Advancing the underlying geologic model to support an updated MRE (Mineral Resource Estimate)
- Delivering technical data to support geotechnical and geometallurgical studies in support of a proposed PEA (Preliminary Economic Assessment)
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The first phase of drilling (5,000 meters) is expected to be completed by year-end; drill core assays will be released as they become available.
US GoldMining CEO Tim Smith — whom you’re about to hear from directly in our exclusive interview — commented on the start of drilling via press release:
“The start of our inaugural exploration drilling campaign at Whistler marks an important milestone for U.S. GoldMining. Whistler has not been actively explored in more than a decade, and by utilizing new technology and applying our team's technical expertise, we aim to gain a better understanding of the mineral systems and the potential development options for Whistler. The Program will explore extensions along strike and to depth, as well as prioritize the improved delineation of higher-grade zones within the existing Whistler gold-copper deposit. We are excited that drilling has commenced and look forward to releasing assay results from the drill program as they become available.”
At 200+ sq km, Whistler is considered a large, resource-stage precious and base metals project with Indicated resources of ~3 million gold equivalent ounces and Inferred resources of ~6.5 million gold equivalent ounces covering an expansive regional land package.
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View PublicationsThe project comprises a cluster of gold and gold-copper porphyries in a mineral-rich region of southern Alaska (170 km northwest of Anchorage) that’s wide open for development with multiple operators/deposits in the surrounding area with infrastructure onsite including a base camp and gravel airstrip.
To-date, mineral resources have been estimated at three gold-copper porphyry deposits (Whistler, Raintree West, and Island Mountain), all of which have a higher-grade core, with several additional geophysical and geochemical anomalies identified and warranting follow-up drilling.
Further, the state of Alaska, as part of its Roads-to-Resources initiative, recently approved a US$8.5M budget for a road design study that would connect the Whistler project directly with the city of Anchorage and Port MacKenzie — a major Alaskan port.
This is the first significant exploration/drilling to take place at the Whistler project in more than a decade, marking a key milestone for US GoldMining and USGO stakeholders. With the drills turning, speculators can anticipate an increase in news flow over the coming months; we’ll keep you updated as developments arise.
Finally, as promised, our own Gerardo Del Real of Junior Resource Monthly caught up with US GoldMining CEO Tim Smith to go over the start of Phase-1 drilling at the flagship, 100%-owned Whistler Gold-Copper Project, Alaska. Please enjoy!
For additional information on Vancouver-based US GoldMining Inc., be sure to contact the company’s IR department at 604-388-9788 or via email at info@us.goldmining.com.
Sign up to receive updates directly from the company at the US GoldMining corporate website.
Mike Fagan
Editor, Resource Stock Digest
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