US Gold Corporation: El Gallo Recognized as Sinaloa's Discovery of the Year
US GOLD CORPORATION..
Symbol Price Change
UXG 3.85 +0.09
Press Release Source: US Gold Corporation On Monday June 7, 2010, 8:30 am EDT
TORONTO, ONTARIO--(Marketwire - 06/07/10) - US GOLD CORPORATION (AMEX:UXG - News)(TSX:UXG - News) is pleased to announce the Company's El Gallo Project has been recognized as Sinaloa's "Discovery of the Year". This recognition is presented by The Government of Sinaloa through the Mexico's Ministry of Economic Development to the exploration company with the most significant mineral discovery in Sinaloa State, during the previous year.
"It's been less than two years since our prospecting team took the first rock samples. Since then El Gallo has exceeded all expectations! With a number of interesting prospects now being tested around the project, it is our objective to find another El Gallo this year," stated Rob McEwen, Chairman and CEO.
To date, 92,000 feet (28,000 meters) of core drilling, totaling 175 holes have been completed at El Gallo. An additional 245,000 ft (75,000 meters) is currently planned for 2010. El Gallo's initial resource estimate is scheduled to be released during the first full week in July. Work on a Preliminary Economic Assessment is well underway and will to be released by year-end.
ABOUT US GOLD (http://www.usgold.com/)
US Gold Corporation is a Colorado incorporated company that explores for gold and silver. It has a strong treasury, no debt and two significant land holdings, one in Nevada next to Barrick Gold's multi-million ounce Cortez project, and the other in Mexico where it has made an exciting high-grade silver discovery and is currently conducting a 330,000 ft (100,000 m) exploration drill program that is expected to provide news throughout the year. US Gold's goal is to qualify for inclusion in the S&P 500 within the next 5 years. US Gold's shares trade on the NYSE Amex and the Toronto Stock Exchange under the symbol UXG. US Gold has good market liquidity, trading 1.0 million shares daily, and is included in S&P/TSX and Russell indices.
finance.yahoo.com |
