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U.S. GoldMining Inc. reports developments in mineral exploration and project evaluation for its 100%-owned Whistler Gold-Copper Project in Alaska. Company updates focus on gold-copper porphyry targets, diamond core drilling programs, geochemical and geophysical target generation, and technical disclosure tied to the project's initial economic assessment.
Recurring news also covers S-K 1300 and NI 43-101 technical reports, project-development leadership additions, permitting and infrastructure context for Whistler, and the company's relationship with majority owner GoldMining Inc. The issuer operates as a single-segment mineral exploration company focused on mineral properties.
U.S. GoldMining (NASDAQ: USGO) has announced significant new assay results from their 2024 drilling program at the Whistler Gold-Copper Project in Alaska. The key discovery is a new high-grade zone at the Raintree Prospect, with drill hole WH24-05 intercepting multiple zones of high-grade gold and silver polymetallic mineralization approximately 500 meters south of prior drilling.
The main zone composite intercept showed 138.0 meters at 0.99 g/t gold equivalent, including higher-grade sections of up to 1.93 g/t gold equivalent. The mineralization consists of multiple quartz-carbonate veins with abundant coarse base metal sulphides, with peak values reaching 7.15 g/t Au and 189 g/t Ag.
The company completed six diamond core holes totaling 4,006 meters during the 2024 season. The Raintree component of the Project includes both open pit and underground deposits, with indicated and inferred resources. This new discovery validates the Company's exploration strategy, and additional follow-up drilling is planned for summer 2025.
U.S. GoldMining (NASDAQ: USGO) has announced new assay results from its 2024 confirmatory diamond core drilling program at the Whistler Gold-Copper Project in Alaska. The highlight is drill hole WH24-04, which intersected 458 meters at 0.75 g/t gold equivalent, including high-grade zones of 48m at 1.23 g/t AuEq and 116m at 1.00 g/t AuEq.
The results demonstrate improving metal grades with depth in the western portion of the Whistler Deposit, supporting the company's understanding of mineralization controls. The project currently has 6.48 million gold equivalent ounces in indicated resources and 4.16 million gold equivalent ounces in inferred resources. The company completed six diamond core holes for 4,006 meters during the 2024 field season, focusing on delineating and extending high-grade mineralization within deeper portions of the deposit.
U.S. GoldMining Inc. (NASDAQ: USGO) welcomes the Presidential Executive Order 'Unleashing Alaska's Extraordinary Resource Potential' signed on January 20, 2025. The order aims to boost Alaska's mining industry by streamlining resource development permitting and maximizing natural resource production on Federal and State lands.
The company's Whistler Gold-Copper Project in Alaska is positioned to benefit from this initiative, along with existing state-level support including Governor Dunleavy's 2023 project visit and Alaska's 'Roads to Resources' initiative, which includes the proposed West Susitna Access Road to the project.
CEO Tim Smith emphasized that this order could initiate a new era of discovery and growth for Alaska's resource sector, potentially benefiting the project's future mine development through enhanced regulatory certainty while creating local jobs and contributing to domestic copper supply.
GoldMining Inc (TSX: GOLD) (NYSE: GLDG) has announced changes to its Board of Directors. Garnet Dawson and The Hon. Herb Dhaliwal have retired from the company's board after serving for more than ten years each. Dawson, who joined as CEO in 2014 until 2021 and became a board member in 2018, and Dhaliwal, who joined the board in 2013, will continue to contribute to the company as strategic advisors on GoldMining's advisory board.
GoldMining Inc (TSX: GOLD) (NYSE: GLDG) has renewed its at-the-market equity program (ATM Program), allowing the distribution of up to US$50 million worth of common shares. The shares will be sold at prevailing market prices through a syndicate of agents led by BMO Nesbitt Burns Inc. and BMO Capital Markets Corp.
The proceeds will fund exploration and development of mineral properties, complete minimum work programs, maintain property rights, fund future acquisitions, and provide working capital. The program will be effective until December 24, 2025, or until the aggregate gross sales reach US$50 million. This ATM Program replaces the previous one that expires on December 31, 2024.
U.S. GoldMining (NASDAQ: USGO) reported significant achievements at its Whistler Gold-Copper Project in Alaska during 2024. Key highlights include a 117% increase in Indicated resources to 6.5 million ounces gold-equivalent (AuEq), with an additional 4.2 million ounces AuEq in the Inferred category. The company's drill campaign yielded notable results, including intersections of 652.5m at 1.00 g/t AuEq and 120m at 1.00 g/t AuEq. Over 13,000 feet of drilling was completed ahead of schedule and under budget. The company invested $4.3 million in the Alaskan economy through local partnerships and contributed $60,000 to community initiatives. Progress was also made on environmental studies and collaboration with authorities on the West Susitna Access Road project.
U.S. GoldMining (NASDAQ: USGO) announced new assay results from their 2024 confirmatory diamond core drilling program at the Whistler Gold-Copper Project in Alaska. The highlight is drill hole WH24-02, which intersected 120 meters at 1.00 g/t gold equivalent, including high-grade intercepts of 40m at 1.28 g/t AuEq and 20m at 1.26 g/t AuEq. The total mineralized envelope comprises 274m at 0.71 g/t AuEq. The company completed over 4,000 meters of drilling in 2024, with assays pending for three additional drill holes. The results confirm a western high-grade zone within the Whistler Deposit, supporting the company's thesis on gold grade zonation.
GoldMining reports additional high-grade drilling results at its 100% owned São Jorge Project in Brazil. The 2024 auger drilling program identified several new gold-in-bedrock targets, with peak assays exceeding expectations. Highlight intercepts include 1 meter at 10.2 g/t Au from 14m depth, 5m at 2.78 g/t Au from 10m depth, and 3m at 1.05 g/t Au from 12m depth. Only 13% of the broad gold-in-soil anomalies across the project have been tested to date. The company plans further drilling in 2025 to delineate additional targets and potentially discover new gold resources. The São Jorge property, located in the Tapajós gold district, covers 45,997 hectares and has significant exploration potential. The project benefits from nearby infrastructure, including a paved highway and a new powerline corridor.
GoldMining's subsidiary, U.S. GoldMining, has updated its Mineral Resource Estimate (MRE) for the Whistler Gold-Copper Project in Alaska. Key highlights include:
- Indicated Mineral Resource: 294 million tonnes (Mt) at 0.68 grams per tonne (g/t) gold equivalent (AuEq) for 6.48 million ounces (Moz) AuEq.
- Inferred Mineral Resource: 198 Mt at 0.65 g/t AuEq for 4.16 Moz AuEq.
- The indicated category has increased by 117% compared to the 2022 MRE.
- The updated Whistler MRE includes 2023 drilling data and excludes recent 2024 assays.
- U.S. GoldMining has concluded its 2024 drilling program, achieving 4,006 meters in 6 holes.
The Whistler MRE is constrained by conceptual pit design shells and includes three deposits: Whistler, Raintree, and Island Mountain, covering only 1% of U.S. GoldMining's land holdings. The company is exploring additional targets within the 'Whistler Orbit'.
U.S. GoldMining (NASDAQ: USGO) has announced an updated Mineral Resource Estimate (MRE) for its Whistler Gold-Copper Project in Alaska. The indicated mineral resource now stands at 294 million tonnes (Mt) at 0.68 grams per tonne (g/t) gold equivalent (AuEq) for 6.48 million ounces (Moz) AuEq. The inferred mineral resource is 198 Mt at 0.65 g/t AuEq for an additional 4.16 Moz AuEq. This represents a 117% increase in indicated gold equivalent ounces compared to the 2022 MRE. The updated MRE incorporates 2023 drilling results, revised geological interpretation, and refreshed cut-off grade assumptions. The Whistler Project includes three deposits: Whistler, Raintree, and Island Mountain, which together occupy approximately 1% of the company's land holdings. The 2024 drilling program has concluded, achieving 4,006 meters of drilling in 6 holes, further confirming the geological model and extending mineralization. The effective date of the updated MRE is September 12, 2024.