This stock has been particularly hard hit and thought the following news might be of interest to those who follow it or its CEO, Rob Mceown (sp?) of Goldcorp fame.
US Gold Corp. Intersected Significant Gold, Silver Mineralization At El Gallo
Thursday, October 27, 2011 9:28 AM
Toronto-based US Gold Corp. (NYSE: UXG),(TSX: UXG) says that exploration drilling encountered significant gold and silver mineralization at their El Gallo Complex located in the Sinaloa State of Mexico. To date seven holes have returned noteworthy samples, highlights include 1.61 grams per ton gold and 81 gram per ton silver over 18.5 meters, including 4.73 g/t gold and 292.1 g/t silver over 3.9 meters. The company says the first series of holes drilled were from the San Dimas zone and intersected significant near-surface gold and silver mineralization. Rob McEwen, chairman and chief executive officer, adds that the discovery is very near US Gold’s planned production facility and will increases San Dimas’ possible economic significance.
