Exploration: Limo
Limo, located 75 miles (120 km) east of US Gold’s properties in the Cortez Trend, is a large 44 sq. mile (114 sq. km) property that produced 91,000 ounces of gold between 1989 and 1990. Gold has been identified along the 15-mile (24 km) length of the Limo property in numerous mineralized areas indicating that there is good potential for additional discoveries (Figure 1).
Figure 1: Limo: Location of Mineralized Areas & Future Drilling
US Gold acquired Limo when it purchased Nevada Pacific Gold in 2007. US Gold’s drilling at Limo has been designed to, 1) Expand the known mineralization, 2) Establish continuity between mineralized areas, and 3) Test for higher grade mineralization using core drilling. Some of the previously released results from US Gold’s drilling include:
Limo Resource Estimate
On July 15, 2009 US Gold announced an initial resource estimate for the Limo Project. Measured and Indicated resource totalled 241,080 ounces gold within 10.6 million tons of material with an average grade of 0.023 opt (0.784 gpt) gold. Inferred resource totalled 50,700 ounces gold within 2.5 million tons averaging 0.020 opt (0.699 gpt).
Limo Metallurgical and Process Testing
Preliminary metallurgical studies consisted of a series of bottle roll tests that achieved an average gold recovery of 92.9%. Samples were crushed to -150 mesh (0.105 mm) with tests being performed over a 96-hour period. McCelland Labs, located in Sparks, Nevada, performed the test work. Test results are detailed in Table 3 below:
Limo Resource Estimate
On July 15, 2009 US Gold announced an initial resource estimate for the Limo Project. Measured and Indicated resource totalled 241,080 ounces gold within 10.6 million tons of material with an average grade of 0.023 opt (0.784 gpt) gold. Inferred resource totalled 50,700 ounces gold within 2.5 million tons averaging 0.020 opt (0.699 gpt).
Limo Metallurgical and Process Testing
Preliminary metallurgical studies consisted of a series of bottle roll tests that achieved an average gold recovery of 92.9%. Samples were crushed to -150 mesh (0.105 mm) with tests being performed over a 96-hour period. McCelland Labs, located in Sparks, Nevada, performed the test work. Test results are detailed in Table 3 below:
