Mike Fagan,
Editor
June 7, 2023
US GoldMining Inc. (NASDAQ: USGO) — currently trading around US$12.35 per share on the NASDAQ — has commenced its inaugural exploration program at the flagship, 100%-owned Whistler Gold-Copper Project in mining-friendly Alaska.
A field crew has been mobilized to the fully permitted, 200+ sq km property to prepare for what will be a Phase-1, two-year exploration program, including mine engineering and environmental baseline studies and initial core drilling of up to 10,000 meters.
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View ReportsThe Phase-1 program is fully funded with the company fresh off of their highly successful IPO, which raised US$20 million at a valuation of just US$10 per ounce in the ground.
US GoldMining CEO Tim Smith commented via press release:
“US GoldMining is now fully funded and permitted to start our inaugural exploration program at Whistler. We have engaged leaders in the industry with significant local knowledge to execute our exploration plans and we are excited to commence the Phase 1 program. With several exploration targets already identified, we are eager to get to work and drive forward the rediscovery of Whistler.”
By any standard, Whistler is considered a large 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.
The project comprises a cluster of gold and gold-copper porphyries in a mineral-rich region of southern Alaska that’s wide open for development with multiple operators/deposits in the surrounding area with infrastructure onsite including a base camp and gravel airstrip.
Further, the state of Alaska, as part of its Roads-to-Resources initiative, also 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.
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View PublicationsWith gold trading firmly above US$1,975 per ounce, the timing is ideal for the company’s ambitious plans to advance the Whistler project through boots-on-the-ground exploration and drilling.
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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