U.S. GoldMining Inc. (NASDAQ: USGO) shares are witnessing a substantial increase in the current market session, climbing 21.22% to $11.23 as of the last check. The notable uptick follows an announcement regarding new assay results from its 2024 confirmatory diamond core drilling program at the Whistler Gold-Copper Project in Alaska, U.S.A.
Exceptional Assay Results Reinforce Project Potential
Assay results from drill holes WH24-03 and WH24-04 were released by U.S. GoldMining, signaling a major advancement in the continuing 2024 drilling program. Building on earlier drilling success, these data show many broad mineralized intercepts, including what is now regarded as the greatest drill hole in the Whistler Project’s history.
With 6.48 million gold equivalent ounces in indicated resources and an additional 4.16 million gold equivalent ounces in inferred resources, USGO’s goal is still to improve and increase the current mineral resource estimate (MRE).
Following up on the previously discovered high-grade intersection in WH24-02, which reported 120 meters at 1.00 g/t gold equivalent (AuEq), WH24-04 was carefully drilled in the western part of the Whistler Deposit. The latest assays confirm that metal grades improve with depth, further validating the company’s geological model and supporting efforts to enhance the project’s overall resource profile.
Advancing Exploration and Strategic Development
With these promising results, U.S. GoldMining is gearing up for the 2025 exploration season, prioritizing mineral resource expansion while concurrently conducting engineering and environmental studies. USGO is also set to benefit from increased federal support following President Trump’s Executive Order, dated January 20, 2025, titled “Unleashing Alaska’s Extraordinary Resource Potential.”
As of September 30, 2024, U.S. GoldMining had successfully completed six diamond core drill holes, totaling 4,006 meters, during the 2024 field season. The drilling was aimed at delineating deeper high-grade zones within the Whistler Deposit, complementing the successes of the 2023 program, which included an exceptional drill intercept of 652.5 meters at 1.00 g/t AuEq.
Market Performance and Industry Positioning
On the ST screener, U.S. GoldMining maintains a “Bullish” performance rating within the Industrial Materials industry. Investors seeking further insights into comparable stocks can explore detailed analysis via the ST screener link.