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
The project envisages an openpit mine, which will produce an average of 108 500 gold equivalent ounces a year over a ten-year mine life.

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 reached the significant milestone of receiving approval for its air-quality permit from the Wyoming Department of Environmental Quality (WDEQ).

The approval marks the final requirement for the mine’s operating permit, following the earlier approval of two other conditions: the reclamation bond and the Wyoming Pollutant Discharge Elimination System permit.

With the air-quality permit now in hand, US Gold is turning its focus to completing an updated prefeasibility study, which the company expects could be released by the end of the year, after which the remaining work on the feasibility study will be finalised.

The prefeasibility work, which started in 2022, was halted in 2023 to align with the project’s permitting process, and to accommodate disruptions caused by the Covid-19 pandemic and adjustments made following a review by the WDEQ.

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.