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United States
CK Gold Project

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 Location:
32 km W from Cheyenne, Wyoming, United States

  Project Contacts:
1807 Capital Avenue
Cheyenne
Wyoming, United States
82001
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WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
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  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StagePermitting
Mine TypeOpen Pit
Commodities
  • Gold
  • Silver
  • Copper
Mining Method
  • Truck & Shovel / Loader
Mine Life10 years (as of Jan 1, 2021)
The CK Gold project offers the company near-term, open-pit production potential as well as compelling value.

On Sept. 14, 2022, U.S. Gold Corp. reported that it had submitted an application for a Permit to Mine and the Mine Reclamation Plan to the Wyoming Department of Environmental Quality for its proposed CK Gold Project.

U.S. Gold Corp. plans to have the FS available in Q3 2023 and anticipates that the permitting will continue through the balance of 2023 and most likely into early 2024.
Latest NewsU.S. Gold Corp. - Q1 2023 Update, CK Gold Project on Track     April 26, 2023


Owners

Source: p. 52
CompanyInterestOwnership
U.S. Gold Corp. 100 % Indirect
U.S. Gold Corp., through its wholly-owned subsidiary, Gold King Corp., a Nevada corporation, owns the Copper King gold and copper development project (the “CK Gold Property”).

Contractors

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Deposit Type

  • Breccia pipe / Stockwork
  • Porphyry


Summary:

Deposit Types
The Copper King deposit is thought by some to be a Proterozoic porphyry gold-copper deposit (Hausel, 1992, 1997; Carson, 1998), and is included in a list of undeveloped porphyry copper deposits by Long (1995). Others (Klein, 1974) categorized the Copper King deposit as a structurally controlled base and precious metal deposit in a Precambrian shear zone.

The presence of stockwork and disseminated mineralization, the uniformity of metal content in the mineralized intercepts, and the association of propylitic and potassic alteration zones do suggest a similarity to the porphyry copper model. However, the apparent lack of an associated large porphyry intrusion, the rather small size of both the mineralized and altered zones, the Proterozoic age, and the apparent structural control exerted by the associated shear zone suggest that the appropriate model may be one of shear-zone related mineralization. In determining the mineral resource for Compass Minerals in 1995, MDA had modeled higher-grade shear-zone related mineralization within a larger shell of disseminated and stockwork mineralization (Ristorcelli et al., 1995).

Mineralization
According to Klein (1974) Copper King is a structurally controlled base-precious metal deposit in silicified portions of a Precambrian shear zone in granodiorite. According to Soule (1955), most of the primary gold-copper mineralization is in relatively fine-grained, equigranular gneiss (foliated granod ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

Open pit, surface mining is the selected mining method for the CK Gold Project. This mining method is selected based on the size, shape, location and value of the mineralization on the property. The Project’s disseminated type mineralization has a large extent and is located near to or outcropping at surface. Additionally, open pit optimizations attempting to maximize the recovery of the in-situ resource show economic excavation results using current project parameters and base case metal prices.

Surface mining is a cyclical process where the four main tasks are drilling, blasting, loading and haulage are occurring concurrently at different areas of the property. In areas to be excavated vertical blast holes are drilled in a regular pattern and charged with blasting agents. The material is shot, loaded into 100st class rigid frame haul trucks, and transported based on material type to three different locations, run of mine (ROM) Crusher Stockpile Ore, Co-Disposal Tailings Facility, Mineralized Material Stockpile and Waste rock storage facility. Wherever possible Crusher Stockpile Ore will be direct dumped into the primary crusher at the process plant.

Contractor mining has been selected as the preferred method for the purposes of the PFS. This decision, in large part is due to the location of the project, local mining and contracting expertise and the availability of potential contractors with available equipment, and recognizing the downturn in the mini ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.


Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold koz 706
Silver koz  ......  Subscription required
Copper M lbs  ......  Subscription required
Gold Equivalent oz  ......  Subscription required
All production numbers are expressed as metal in concentrate.

Operational Metrics:

Metrics
Daily milling capacity  ......  Subscription required
Daily ore mining rate  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Tonnes milled, LOM  ......  Subscription required
Annual ore mining rate  ......  Subscription required
Mining scale, tpd  ......  Subscription required
Processing scale, tpd  ......  Subscription required
* According to 2021 study.
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Reserves at November 15, 2021:
Resources tabulated at a cutoff grade of (0.0107 – 0.0088) AuEq oz./st, 0.009 AuEq Oz/st average.

Reserves tabulated at a cutoff grade of (0.0107 – 0.0088) AuEq oz./st, 0.009 AuEq Oz/st average.

CategoryTonnage CommodityGradeContained Metal
Proven & Probable 70,400 k tons Gold 0.014 oz/ton 1,010 koz
Proven & Probable 70,400 k tons Silver 0.038 oz/ton 2,660 koz
Proven & Probable 70,400 k tons Copper 0.176 % 248 M lbs
Proven & Probable 70,400 k tons Gold Equivalent 0.02 oz/ton 1,440 koz
Measured & Indicated 81,800 k tons Gold 0.014 oz/ton 1,110 koz
Measured & Indicated 81,800 k tons Silver 0.039 oz/ton 3,220 koz
Measured & Indicated 81,800 k tons Copper 0.171 % 280 M lbs
Measured & Indicated 81,800 k tons Gold Equivalent 0.019 oz/ton 1,580 koz
Inferred 22,500 k tons Gold 0.01 oz/ton 235 koz
Inferred 22,500 k tons Silver 0.014 oz/ton 323 koz
Inferred 22,500 k tons Copper 0.152 % 68.3 M lbs
Inferred 22,500 k tons Gold Equivalent 0.016 oz/ton 357 koz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Gold Equivalent USD  ......  Subscription required&nbs
All-in sustaining costs (AISC) Gold Equivalent USD  ......  Subscription required&nbs
Assumed price Copper USD  ......  Subscription required&nbs
Assumed price Silver USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2021 study / presentation.
Subscription required - Subscription is required.

Operating Costs:

Units2021
OP mining costs ($/ton mined) USD 1.69 *
OP mining costs ($/ton milled) USD  ......  Subscription required
Processing costs ($/ton milled) USD  ......  Subscription required
G&A ($/ton milled) USD  ......  Subscription required
Total operating costs ($/ton milled) USD  ......  Subscription required
* According to 2021 study.
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2021 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 468
Refining costs $M USD  ......  Subscription required
Transportation (haulage) costs $M USD 49.5
G&A costs $M USD 75.9
Total OpEx $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 5% $M USD  ......  Subscription required
After-tax NPV @ 5% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
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Proposed Heavy Mobile Equipment as of November 15, 2021:
HME TypeSizeQuantityLeased or
Contractor
Backhoe ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Nov 15, 2021
....................... Subscription required ....................... Subscription required Subscription required Feb 15, 2023
....................... Subscription required ....................... Subscription required Subscription required Feb 15, 2023
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2021

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2023
Form 10-K 2022
................................... Subscription required 2021
Subscription required - Subscription is required.

News:

NewsDate
U.S. Gold Corp. - Q1 2023 Update, CK Gold Project on Track April 26, 2023

Subscription required - Subscription is required.

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