More GOOD news from US Gold.. I have been patient with this one..:)
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US Gold Corporation: El Gallo Continues to Grow Rapidly More Thick Intercepts & Good Grade
125.6 GPT OVER 81.4 METERS, 273.8 GPT SILVER OVER 23.1 METERS & 725.1 GPT SILVER OVER 8.1 METERS
Press Release Source: US Gold Corporation On Tuesday April 6, 2010, 12:52 pm
TORONTO, ONTARIO--(Marketwire - 04/06/10) - US GOLD CORPORATION (AMEX:UXG - News) (TSX:UXG - News) is pleased to announce additional core drilling results that have expanded the mineralization (Fig. 1) at the El Gallo Project in Sinaloa State, Mexico. The three best holes of the eight assayed since the last update on March 24, 2010 are: 3.7 ounces of silver per ton (opt) over 266.9 ft (feet) (125.6 grams per tonne silver over 81.4 meters (m), 8.0 opt silver over 75.6 ft (273.8 gpt silver over 23.1 m) and 21.1 opt silver over 26.6 ft (725.1 gpt silver over 8.1 m).
Main Zone - Thick Intersections of Good Grade Continue
Mineralization Open in Several Directions
Drilling in the Main Zone successfully extended the mineralization in several directions (Fig. 1, 3). Core hole GAX100, which intersected three thick zones, successfully extended the mineralization encountered in GAX055 (11.4 opt silver over 368.8 ft (390.3 gpt over 117.9 m - Released Feb 11, 2010) by approximately 130 ft (40 m) to the north (Fig. 3).
Core hole GAX122 was drilled to extend the mineralization beyond hole GAX057 (8.3 opt silver over 128.8 ft (283.4 gpt over 39.3 m - Released March 1, 2010), which is the furthest hole drilled along strike to the southeast. This hole was drilled from the same collar location as GAX057 and successfully widened the zone by approximately 80 ft (25 m). US Gold's geologists believe the potential to find additional mineralization is excellent since the zone remains open in several directions. Highlights from this drilling are shown below.
Hole # Silver Length From To Hole # Silver Length From To---------------------------------------------------------------------------- (opt) (ft) (ft) (ft) (gpt) (m) (m) (m)----------------------------------------------------------------------------GAX100 3.7 42.0 64.3 106.3 GAX100 127.2 12.8 19.6 32.4Including 16.6 6.2 93.7 99.9 Including 570.0 1.9 28.6 30.5And 8.0 75.6 138.1 213.7 And 273.8 23.1 42.1 65.2Including 13.6 20.0 183.7 203.7 Including 466.4 6.1 56.0 62.1And 5.1 72.7 322.8 395.5 And 174.2 22.2 98.4 120.6Including 26.6 5.6 355.3 360.9 Including 911.0 1.7 108.3 110.0----------------------------------------------------------------------------GAX121 2.8 70.2 46.3 116.5 GAX121 97.6 21.4 14.1 35.5Including 28.6 1.6 90.9 92.5 Including 980.0 0.5 27.7 28.2And 9.0 12.5 145.0 157.5 And 309.4 3.8 44.2 48.0And 3.1 27.9 355.6 383.5 And 107.4 8.5 108.4 116.9Including 14.3 3.3 355.6 358.9 Including 489.0 1.0 108.4 109.4----------------------------------------------------------------------------Hole # Silver Length From To Hole # Silver Length From To---------------------------------------------------------------------------- (opt) (ft) (ft) (ft) (gpt) (m) (m) (m)----------------------------------------------------------------------------GAX122 3.7 266.9 249.0 515.9 GAX122 125.6 81.4 75.9 157.3Including 49.3 9.2 290.4 299.5 Including 1,691.1 2.8 88.5 91.3Including 33.0 4.4 374.5 378.9 Including 1,130.0 1.4 114.2 115.5----------------------------------------------------------------------------All depths indicated in table are down hole0.73 opt Ag (25 gpt Ag) cutoffAllowable waste interval was 19.7 ft (6 m) of less than 0.73 opt Ag (25 gpt Ag)Numbers may not add due to roundingTrue widths are unknown
Possible Parallel Zone: High Grades Encountered at Surface and at Depth
Hole GAX103 encountered two intersections of mineralization (Fig. 4). The first intersection, starting at approximately 280 ft (85 m) below surface, is believed to be the continuation of the Main Zone at depth. The second intersection, starting from surface, appears to be a separate mineralized structure that parallels the Main Zone. Ongoing drilling will look to expand the mineralization in both areas. Highlights from drilling in this area are shown below.
Hole # Silver Length From To Hole # Silver Length From To---------------------------------------------------------------------------- (opt) (ft) (ft) (ft) (gpt) (m) (m) (m)----------------------------------------------------------------------------GAX102 1.4 138.0 79.4 217.4 GAX102 47.7 42.1 24.2 66.3Including 24.0 2.5 184.4 186.8 Including 822.0 0.8 56.2 57.0And 7.2 14.8 364.8 379.6 And 248.0 4.5 111.2 115.7----------------------------------------------------------------------------GAX103 21.1 26.6 0.0 26.6 GAX103 725.1 8.1 0.0 8.1Including 74.7 3.1 11.3 14.4 Including 2,560.0 1.0 3.5 4.4And 47.3 5.4 399.8 405.2 And 1,620.2 1.7 121.9 123.5----------------------------------------------------------------------------All depths indicated in table are down hole0.73 opt Ag (25 gpt Ag) cutoffAllowable waste interval was 19.7 ft (6 m) of less than 0.73 opt Ag (25 gptAg)Numbers may not add due to roundingTrue widths are unknown
Continuity of Near Surface Mineralization Confirmed
Increasing the Confidence Level
Ongoing delineation drilling continues to encounter good grade starting near surface. Near surface mineralization at El Gallo is common throughout the project area.
Hole # Silver Length From To Hole # Silver Length From To---------------------------------------------------------------------------- (opt) (ft) (ft) (ft) (gpt) (m) (m) (m)----------------------------------------------------------------------------GAX105 4.8 13.8 26.9 40.7 GAX105 165.1 4.2 8.2 12.4Including 10.4 3.8 26.9 30.7 Including 358.0 1.2 8.2 9.4And 31.8 5.2 78.3 83.5 And 1,090.8 1.6 23.9 25.5Including 152.8 1.0 79.6 80.4 Including 5,240.0 0.3 24.2 24.5And 2.5 15.7 240.6 256.4 And 86.3 4.8 73.4 78.2----------------------------------------------------------------------------All depths indicated in table are down hole0.73 opt Ag (25 gpt Ag) cutoffAllowable waste interval was 19.7 ft (6 m) of less than 0.73 opt Ag (25 gptAg)Numbers may not add due to roundingTrue widths are unknown
Geological Technical Description of El Gallo
El Gallo is a low-sulfidation, epithermal silver deposit located within the Pie de la Sierra physiographic province of the Sierra Madre Occidental Range which is part of a Cretaceous to Tertiary magmatic arc with volcanic and associated sedimentary rocks that extends for hundreds of miles through northwestern Mexico. Cretaceous-Tertiary volcanic and volcaniclastic rocks rest upon a basement of Paleozoic and Mesozoic sedimentary and metamorphic rocks. Intrusives of Late Cretaceous and Tertiary age cut these rocks locally. Regionally, these intrusives are dominated by the granitic Sinaloa Batholith. El Gallo project is located near the margin of the Sinaloa Batholith. Other shallow-level porphyritic intrusives also occur within the project area. Silver mineralization is hosted in breccia and stockwork zones that occur primarily in the andesitic volcanic and intrusive rocks and to a lesser extent in quartz monzonite porphyry intrusive rocks. The shape of the mineralization has not yet been fully defined.
To view the 8 new core holes from this news release see Table 1. To view all 105 core holes drilled at El Gallo, please click: usgold.com
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