Name of the Project
CK gold project.

Location
Laramie County, Wyoming, in the US.

Project Owner/s
Nasdaq-listed exploration and development company US Gold Corp.

Project Description
A prefeasibility study (PFS) has delivered robust economics. It envisages an openpit mine, which will produce an average of 108 500 gold equivalent ounces a year over a ten-year mine life.

The project has measured and indicated resources of 1.58-million gold-equivalent ounces.

A contractor mining operating model is proposed for mine operations, tailings disposal and site support.

The project owner will operate the process plant, provide supervision for contractors, mine planning, ore control and general site administration. This hybrid owner/contractor model is used to leverage the regional mine contractor expertise and reduce initial project capital costs.

The current process flowsheet uses a one-stage crushing plant receiving run-of-mine ore, and stacking crushed ore on a reclaimed feeder-equipped stockpile. The semiautogenous grinding mill is fed crushed ore at a nominal rate of 18 150 t/d and is in closed circuit with a ball mill, two pebble crushers and two banks of cyclones, which produces a product for flotation.

A flotation circuit, with regrind after rougher flotation, will produce a bulk flotation concentrate. Tailings will be thickened and dried using filter presses for dry stack disposal.

Opportunities exist to eliminate equipment and reduce capital costs through measures – such as the elimination of a pebble crusher and cyclone bank, as well as ball mills, from the circuit – and the optimisation of the tailings preparation, resulting in less filtration.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 5% discount rate, of $323-million and an internal rate of return of 39.4%, with a two-year payback.

Capital Expenditure
Initial capital expenditure is estimated at $221-million.

Planned Start/End Date
Not stated.

Latest Developments
US Gold has received a key permit, further advancing its development efforts.

The Wyoming Department of Environmental Quality (WDEQ) issued US Gold subsidiary Gold King a pollutant discharge elimination system permit on May 31, fulfilling a crucial condition linked to the recently granted surface gold mine permit for the project.

The issuance of the permit satisfies one of three conditions of the mine operating permit.

The remaining conditions, including the acceptance of the already submitted reclamation bond and the air quality permit, are expected to follow soon.

“The air quality permit is . . . under review with the WDEQ Air Quality Division, and we remain on track to receive unconditional approval to move forward with the mine operating plan in hand, around midyear, as per prior guidance,” US Gold president, CEO and director George Bee has said.

US Gold executive chairperson Luke Norman has said the project continues to advance, with the major permitting almost complete.

Over the past year, the project has received its industrial siting, mine operating and water discharge permits, demonstrating a pathway to near-term operations.

Key Contracts, Suppliers and Consultants
Alquimia/Innomet (engineering design work).

Contact Details for Project Information
US Gold Corp, tel +1 800 557 4550 or email ir@usgoldcorp.gold.