News Details – Smallcapnetwork
Gold Gains Traction and U.S. Gold Corp. (USAU) Reveals Drilling Results
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February 2, 2024

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PDT

We're back at it for what will probably end up being a pretty important week for stocks. A lot of back and forth lately, but considering everything we keep seeing here and everything we continue to hear from professional colleagues, it looks like this could be the week the major averages define their future for weeks to come.The S&P 500 continues to trade in a pretty tight range for several days now. However, the consensus right now is two big days in a single direction could set the tone for the next several days, and maybe even weeks. All of the recent market speculation comes at a time when precious metals continue to rally in stealth like fashion - something we were talking about developing a few months ago. You can see the big gold and silver ETF's in GLD and SLV here. If there's any sort of bull market right now, it's definitely in precious metals - that's for sure. And, it looks like they could be on the verge of seriously breaking out to the upside if things go south in stocks soon. With that, we got some pretty significant news from one of our featured stocks today in U.S. Gold Corp. (USAU). It looks like the news is being well received so far, and it comes at a time when the stock is hovering around what looks to be some pretty solid support. You can see here when it comes to speculative junior mining companies, one of the keys is interest in the stock - and then obviously hitting pay dirt. It's usually a long road toward hitting pay dirt, so it's always about management experience and location.It appears U.S. Gold Corp. (USAU) may just have both.Prior to the open this morning, the company announced it recently completed the last four holes as part of its scout drilling program on the Keystone Project, Cortez Gold Trend, Nevada. And, they seem pretty pleased with their results.U.S. Gold Corp.'s Vice President and Head of Nevada Exploration, Dave Mathewson stated, "Our intent was to complete a scout drill-hole campaign at Keystone to investigate the stratigraphy and extent of alteration within 6 unique areas of the project. Early winter conditions in 2016 forced us to complete the last 4 holes of this program this summer. Keystone has never been systematically explored using modern exploration techniques with a model driven approach in its history, as such these holes were vital to gain an understanding of the rock formations and alteration characteristics in the district. We chose these locations through our first phase geophysics and geochemistry surveys. The results of this drill program have been encouraging. The extent and severity of the alteration encountered and the thickness of permissive rock packages combined with the shallow depths they were encountered and Keystone's structural complexity highlight the potential of this district scale mineral system. The drilled intercepts bare many similarities to world-class gold deposits located on the north Carlin Trend and neighboring Cortez Trend deposits.The results report was pretty comprehensive. It's also pretty fascinating. Just go here to read the report in its entirety: https://finance.yahoo.com/news/u-gold-corp-provides-2017-114500608.html.To sum it all up, they're saying the Keystone Project has what appears to be all of the similarities to that of many already proven projects.So, when you look at how gold has been behaving and you consider we're already in the 8th year of a running bull market in stocks, there's definitely a fundamental argument investors should at least start paying attention to gold and some of the select junior miners out there - like U.S. Gold Corp. (USAU).