The CK Gold Project, situated in proximity to Wyoming’s Curt Gowdy State Park, is in the midst of securing state permits for commencing gold mining operations. This initiative by US Gold Corp prioritizes environmental conservation, minimal disruption to local communities, and the safe and economically viable extraction of valuable resources. Employing equipment and techniques akin to those used in nearby quarries, the project, endorsed by the state of Wyoming, anticipates an annual production of approximately 108,500 ounces of gold equivalent over a decade.
US Gold Corp, the company spearheading the CK Gold Project, has been actively engaged in drilling and feasibility studies to bolster the project’s development. Swift progress in state permitting places the company on track to initiate mining activities in the near future. The CK Gold Project, named after the dormant Copper King mine with a century-long history, is believed to house more than 1 million ounces of gold deposits and 248 million pounds of copper. Although not a colossal mining venture, it presents a potentially lucrative prospect for U.S. Gold, marking their foray into mining property development.
According to company spokesperson Bee, the extraction process is projected to yield a recovery rate of 70% for gold and 85% for copper. With mining and processing costs, as well as commodity sales, factored in, Bee estimates a substantial profit of around $300 million for U.S. Gold. As the company navigates the final stages of obtaining necessary permits, there is anticipation that this milestone could bolster the stock price of the thinly traded public entity, currently holding a $34 million market cap.
In the past year, the Wyoming Department of Environmental Quality granted approval for U.S. Gold’s industrial land siting permit, a significant step forward. Additional permits, expected in the ensuing months, will address concerns related to dust and emissions from equipment, as well as water discharge to manage sediment runoff into local waterways. Notably, rancher Ferguson has committed to leasing approximately 360 acres of his family’s ranch for the 1,000-acre mining project—an unprecedented move for him, offering a unique synergy between economic opportunity and land use.