North Bergen, New Jersey 10/16/2009 2:40:00 AM
News / Business

US Gold Corporation Drilling at Gold Bar Project Update

US Gold Corporation (NYSE Amex: UXG) (TSX:UXG) announced that drilling at its Gold Bar Project in Nevada's prolific Cortez Trend continues to expand the known mineralization, encountering good grades and widths. Nine out of ten holes designed to follow-up on results released on September 9th hit economically significant mineralization. The objective of the drilling was to increase the size of the NI 43-101 compliant resource in three areas - West Pick, East Pick, and North Ridge. Nevada delivered good drill results: 0.065 opt gold over 120 ft inc. and 0.121 opt gold over 35 ft.

 

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US Gold Corporation is a Colorado incorporated gold and silver exploration company with a strong treasury, no debt and significant land holdings in Nevada next to Barrick Gold's multi-million ounce Cortez project, along with a high-grade silver/gold discovery in northwestern Mexico. US Gold's shares trade on the NYSE Amex and Toronto Stock Exchanges under the symbol UXG.

 

Portions of this release have been prepared, reviewed and approved by Steve Brown, US Gold's Chief Geologist and full-time employee of the company, who is a Qualified Person as defined by National Instrument 43-101 and is responsible for program design and quality control of mineral exploration undertaken by the company at its Nevada exploration properties. All assays are uncut, with analysis conducted by ALS Chemex utilizing a 30 gram fire assay charge with an AA finish. Drilling was performed with a standard reverse circulation (RC) rig, and samples are 5 feet in length. Quality assurance/quality control is assured by inserting standards and blanks every 40th sample and check assays sent to a second lab every 20th sample.

 

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