Mike Fagan,
Editor
May 3, 2023
US GoldMining Inc. (NASDAQ: USGO) — newly spun out of GoldMining Inc. (TSX: GOLD)(NYSE-Amer: GLDG) and trading around US$9.50 per share on the NASDAQ — is advancing the flagship, 100%-owned Whistler Gold-Copper Project in mining-friendly Alaska.
The Whistler project consists of several gold-copper porphyry deposits and exploration targets within a comprehensive regional land package totaling 217.5 sq km (53,700 acres).
US GoldMining completed its IPO last month, raising US$20M for exploration and mining studies of the Whistler project, which is located ~100 miles northwest of the city of Anchorage.
The company is led by a group of highly experienced mining professionals with an established track record of discovering and advancing significant gold systems primarily in North America and Australia. 
That includes US GoldMining CEO Tim Smith — whom you’re about to hear from directly in our exclusive interview — who previously led Kaminak’s field team to the discovery of the now-famous Coffee Gold Deposit in Yukon, Canada (see above map for location).
Tim now leads the experienced team at US GoldMining, which shares some of the same management and board members as GoldMining Inc., including chairman and professional geologist Alastair Still, who heads up GoldMining Inc. as CEO.
The Whistler Gold-Copper Project — which was initially acquired by GoldMining Inc. back in 2015 when gold was roughly US$1,000 an ounce — has seen 70,000 meters of historical drilling and boasts potential for high-grade epithermal gold-copper mineralization similar to other large porphyry deposits in the area.
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View ReportsToday, with gold closing in on all-time highs above US$2,000/oz, an optimal market opportunity has arisen for newly-IPOd US GoldMining to begin the process of unlocking value through the advancement of its 100%-owned flagship project.
Already, the Whistler project boasts Indicated mineral resources of 1.94 million ounces of gold, 8.33 million ounces of silver, and 422.0 million pounds of copper (118.2 million tonnes grading 0.51 g/t gold, 2.19 g/t silver, and 0.16% copper).
The project contains additional Inferred mineral resources of 4.67 million ounces of gold, 16.06 million ounces of silver, and 711.4 million pounds of copper (317.0 million tonnes grading 0.46 g/t gold, 1.58 g/t silver, and 0.10% copper).
On an equivalent basis, the Whistler project has Indicated resources of 2.99 million gold equivalent ounces (AuEq oz) and Inferred resources of 6.45 million AuEq oz.
The US GoldMining team plans to advance the project from the current resource stage through to mine scoping studies and the delivery of a PEA (Preliminary Economic Assessment).
As you’re about to discover in our interview with CEO Tim Smith, the state of Alaska, as part of its Roads-to-Resources initiative, has approved a US$8.5M budget for a road design study that would connect the Whistler project to the city of Anchorage and Port MacKenzie — a major Alaskan port.
Smith believes the access road — which has a proposed construction start of 2025 — would be a bona fide game changer for the Whistler project (see below).
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View PublicationsUS GoldMining boasts an exceptionally tight share structure with only 14.1M shares outstanding on a fully diluted basis for a current market cap of ~US$120M with US$20M of that backed by cash by way of the recently completed IPO.
We’ll keep you posted as 2023 field plans are announced for Whistler, which will likely include infill and exploration drilling with a focus on converting resources from Inferred to Indicated while simultaneously extending known zones of mineralization.
As promised, our own Gerardo Del Real of Junior Resource Monthly caught up with US GoldMining CEO Tim Smith to go over next-steps in the advancement of the flagship 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