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Market: TSX, NYSE
Sector: Gold Mining
Epic: TSX:UGX
News: Latest news
Web Site: US Gold
Other Articles: 11-06-200906-01-200917-12-2008

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US Gold

US Gold

US Gold Corporation is a United States based gold exploration company exploring in north-eastern Nevada and north-central Mexico.
Tuesday, January 06, 2009

US Gold Corp finds more high-grade zones at El Gallo

US Gold Corp announced what it called “more exciting results” from its El Gallo project in Sinaloa, Mexico, with high-grade mineralization encountered at four separate locations, two of which are new.
The latest drilling expands the original discovery at El Gallo Zone 1 (G1) with the highest silver grades to date from this zone: 1,300 grams per ton of silver over 1.5 metres and  730.5 g/t silver over 3 metres.


G2 expands with significant high-grade of 446.9 g/t silver and 6.9 g/t gold over 13.7 metres, and 1,121.5 g/t silver over 6.1 metres.


The company made two additional discoveries, El Gallo Zone 3 (G3) and El Gallo Zone 4 (G4), with the best intersection returning 1,187.3 g/t of silver and 17.6 g/t gold over 9.1 metres , including 81.1 2,780.0 g/t silver and 72.4 g/t gold over 1.5 metres.


Chairman and chief executive Rob McEwen said: "Our exploration at El Gallo is getting much more exciting because: significant high grade gold and silver assay values are being found over good widths; these values have been found close to surface and to-date all of our drilling has been shallow, only testing to 45.7 metres below surface; and favorable gold and silver grades in soil samples are prompting us to rapidly expand the area and scope of our drilling.”


G3 is located along the eastern edge of the project and it is believed to be part of the same mineral structure that controls the initial discoveries. The G4 area, located to the southeast, is interpreted to be a separate zone.


Results to date show that some of the best intersections are at the edge of the drilling, indicating that the high-grade has excellent potential to expand further.


With the recent exploration success in Mexico, US Gold is currently designing a diamond drill program for El Gallo and Palmarito's South West Zone. The objective will be to confirm the current work and establish a baseline for future resource estimates and to test for additional mineralization at depth.
In November 2008 US Gold acquired the rights to explore key claims inside of its Bat Ridge property, which was acquired through the takeover of Nevada Pacific Gold in 2007. Historical exploration on the property returned very encouraging values, US Gold Corp said. Reverse circulation drilling is scheduled to begin in the coming weeks. Drilling in Nevada is scheduled to resume in late spring and will look to build upon the resource estimates that were published in 2008.

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