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Thursday, 30th April 2009 (738 views)

US Gold has increased its gold resources in the US state of Nevada during the first quarter of 2009.

The Canadian firm has stated that it witnessed a "substantial increase" in estimated mineral resources at its Gold Pick, Gold Ridge North, Cabin Creek and Hunter deposits on its Gold Bar property.

Including measured and indicated resources, the new estimate is 64 per cent higher than December 2008 figures and incorporates results from 20 holes drilled last year.

The deposits are located on the 170 sq mile Gold Bar property, south of the US Gold Tonkin deposit on the Cortez trend of Nevada.

Continued exploration at Gold Bar and Tonkin is planned by the firm for 2009 with the aim of discovering new areas of mineralisation and expanding existing resources.

Focused on gold exploration projects in Nevada and Mexico, US Gold has offices in Toronto, Canada and Reno, Nevada and is listed on the NYSE Amex and Toronto stock exchanges.

 

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