US Gold provides update on Mexico exploration

US Gold Corporation, a United States based gold exploration company exploring throughout north-eastern Nevada, has recently began exploration in Mexico and has encountered encouraging gold mineralisation during recent drilling at the Magistral Mine, located in Sinaloa State, in Mexico.

The company said that drilling designed to expand the mineralisation around the Samaniego Pit returned 0.199 ounces per ton (opt) gold over 49.2 feet (ft.) (6.81 gpt (grams per tonne) gold over 15.0 meters), including 0.580 opt gold over 9.8 ft. (19.90 gpt gold over 3.0 meters).

Also, drilling at the new Dos Amigos vein returning 0.397 opt gold over 19.7 ft. (13.63 gpt gold over 6.0 meters).

Robert McEwen, Chairman and CEO of US Gold said, our positive exploration results from Magistral and the nearby Palmarito Project are clearly demonstrating the area’s potential.

Our objective in Mexico is to quickly grow the size of these projects in order to determine the optimum rate of production, concluded Mr. McEwen.