# CK Gold Project S-K 1300 Technical Report Summary Feasibility Study

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Original source: https://www.sec.gov/Archives/edgar/data/27093/000149315226023905/ex96-1.htm
Original published: 2026-05-15
EGM generated: 2026-09-04
Company: U.S. Gold Corp. (USAU)

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# CK Gold Project S-K 1300 Technical Report Summary Feasibility Study

Source: https://www.sec.gov/Archives/edgar/data/27093/000149315226023905/ex96-1.htm
Published: 2026-05-15T00:00:00+00:00
Fetched: 2026-07-30T16:27:17.41+00:00
Source artifact: da234a52-3252-40df-9a42-1d34391de632
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## Content

# CK Gold Project S-K 1300 Technical Report Summary Feasibility Study
Source: https://www.sec.gov/Archives/edgar/data/27093/000149315226023905/ex96-1.htm
Published: 2026-05-15
EX-99
2
ex96-1.htm
EX-96.1
Exhibit
96.1
Table
of Contents
1
EXECUTIVE
SUMMARY
1
2
INTRODUCTION
19
2.1
ISSUER
19
2.2
TERMS
OF REFERENCE
19
2.3
SOURCES
OF INFORMATION
20
2.4
DETAILS
OF INSPECTION
20
2.5
QUALIFIED
PERSONS
21
2.6
PREVIOUS
REPORTS ON THE PROJECT
21
2.7
LIST
OF ABBREVIATIONS AND UNITS
22
2.7.1
Abbreviations
and Acronyms
22
2.7.2
Units
of Measure
23
3
PROPERTY
DESCRIPTION
24
3.1
PROPERTY
LOCATION
24
3.2
MINERAL
TITLES, CLAIMS, RIGHTS, LEASES, AND OPTIONS
24
3.2.1
Mining
Leases
24
3.2.2
Option
Agreements
24
3.3
OTHER
PROPERTIES
27
3.4
ENVIRONMENTAL
IMPACTS, PERMITTING, OTHER SIGNIFICANT FACTORS, AND RISKS
27
3.5
ROYALTIES
AND AGREEMENTS
28
4
ACCESSIBILITY,
CLIMATE, PHYSIOGRAPHY, LOCAL RESOURCES AND INFRASTRUCTURE
29
4.1
TOPOGRAPHY,
ELEVATION, AND VEGETATION
29
4.2
ACCESSIBILITY
AND TRANSPORTATION TO THE PROPERTY
29
4.3
CLIMATE
AND OPERATING SEASON
29
4.4
LOCAL
INFRASTRUCTURE AVAILABILITY AND SOURCES
31
4.4.1
Power
31
4.4.2
Water
31
5
HISTORY
32
5.1
HISTORICAL
EXPLORATION AND PRODUCTION
32
5.1.1
HISTORICAL
DRILLING DETAILS
32
5.1.2
OTHER
EXPLORATION
33
5.2
HISTORICAL
MINERAL RESOURCE AND MINERAL RESERVE ESTIMATES
34
5.3
HISTORICAL
METALLURGY
35
5.4
QP
COMMENTS
35
6
GEOLOGICAL
SETTING, MINERALIZATION AND DEPOSIT
36
6.1
REGIONAL
GEOLOGICAL SETTING
36
6.1.1
Local
and Property Geology
38
6.1.2
Lithology
38
6.1.3
Alteration
43
6.2
MINERALIZATION
47
6.3
DEPOSIT
TYPE
52
6.3.1
Discussion
52
6.3.2
Interpretations
and Conclusions
55
CK Gold Project S-K 1300 Technical Report i May 2026
7
EXPLORATION
57
7.1
SUMMARY
OF EXPLORATION ACTIVITIES
57
7.2
DRILLING
57
7.2.1
Historical
Drilling
57
7.2.2
Saratoga
2007 – 2008
59
7.2.3
U.S.
Gold 2017 – 2020
59
7.2.4
U.S.
Gold 2020 Drilling Campaign
59
7.2.5
U.S.
Gold 2021 Drilling Campaign
60
7.3
HYDROGEOLOGY
60
7.4
GEOTECHNICAL
DATA
61
7.5
NON-DRILLING
EXPLORATION ACTIVITIES
61
7.5.1
Geophysics
61
7.5.2
Geochemical
63
8
SAMPLE
PREPARATION, ANALYSES AND SECURITY
64
8.1
INTRODUCTION
64
8.2
HISTORICAL
SAMPLING
64
8.3
SAMPLE
PREPARATION
64
8.3.1
Saratoga
2007 – 2008
64
8.3.2
CK
Gold Project 2017 - 2021
65
8.3.3
U.S.
Gold 2021
65
8.4
SAMPLE
ANALYSIS
66
8.4.1
Legacy
Campaigns
66
8.4.2
Saratoga
2007 – 2008 Campaign
67
8.4.3
U.S.
Gold 2017 – 2020 Campaign
68
8.4.4
U.S.
Gold 2021 Campaign
68
8.5
RESULTS,
QC PROCEDURES AND QA ACTIONS
69
8.5.1
Saratoga
2007 – 2008
69
8.5.2
U.S.
Gold 2017 – 2020
69
8.5.3
U.S.
Gold 2021 Campaign
71
8.6
QP
OPINION
71
9
DATA
VERIFICATION
72
9.1
PROCEDURES
72
9.2
DATA
VALIDATION
72
9.2.1
Drilling
and Sampling
72
9.2.2
Resource
Dataset Overview
75
9.2.3
QA/QC
Independent Verification
75
9.2.4
Observations
and Compliance
75
9.3
PREVIOUS
AUDITS / OWNERS
76
9.3.1
Historical
Exploration, Sampling and QA/QC
76
9.4
HISTORICAL
ASSAY QUALITY
76
9.5
QP
OPINION
77
10
MINERAL
PROCESSING
7 8
10.1
INTRODUCTION
78
10.1.1
SGS
Program 11868-001 (2008–2009)
78
10.1.2
SGS
Program 11868-002 (2010)
7 8
10.1.3
KCA
Program 8276C (2020-2021)
7 8
10.1.4
BML
Program BL-0789 (2021)
79
CK Gold Project S-K 1300 Technical Report ii May 2026
10.1.5
BML
Program BL-0835 and 0882 (2021-2022)
79
10.1.6
BML
Program BL-0980 and 1066 (2022)
79
10.1.7
BML
Program BL-1702 (2024)
79
10.1.8
BML
Program BL-1859 (2025)
79
10.1.9
XPS
Program 4025701.00 (2025)
80
10.1.10
BML
Program BL-1990 (2025)
80
10.2
METALLURGICAL
SAMPLING AND HEAD ANALYSIS
80
10.2.1
SGS
Program (2008-2010)
80
10.2.2
KCA
Program 8276C (2020 – 2021)
81
10.2.3
BML
Programs (2021-2025)
82
10.2.4
XPS
Program
87
10.3
MINERALOGY
87
10.3.1
SGS
Program 11868-001 (2008)
87
10.3.2
KCA
Program (2020-2021)
88
10.3.3
BML
Programs (2022)
88
10.4
COMMINUTION
90
10.4.1
SGS
Program 11868-001 (2008-2009)
90
10.4.2
BML
Programs (2021-2025)
90
10.4.3
Hazen
Research Programs
91
10.5
FLOTATION
92
10.5.1
SGS
Programs
92
10.5.2
KCA
Program
93
10.5.3
BML
Programs
95
10.5.4
XPS
Program 4025701.00.
106
10.6
GRAVITY
CONCENTRATION
107
10.6.1
KCA
Program (2020-2021)
107
10.6.2
BML
BL-0789 Program (2021)
107
10.6.3
BML
BL-1990 Program (2025)
108
10.7
CYANIDATION
108
10.7.1
KCA
Program (2020-21)
108
10.7.2
BML
BL-0835/0882 Program (2021-22)
108
10.8
FINAL
CONCENTRATE CHARACTERIZATION
108
10.8.1
Dewatering
108
10.8.2
Chemical
Analysis
108
10.9
TAILINGS
CHARACTERIZATION
112
10.9.1
Dewatering
112
10.9.2
Geotechnical
116
11
MINERAL
RESOURCE ESTIMATES
117
11.1
INTRODUCTION
117
11.2
MINERAL
RESOURCE ESTIMATE
117
11.3
GEOLOGICAL
MODEL
117
11.4
OXIDATION
ASSIGNMENT
122
11.5
BLOCK
MODEL ORIENTATION AND DIMENSIONS
122
11.6
COMPOSITING
122
11.7
EXPLORATORY
DATA ANALYSIS
123
11.8
BULK
DENSITY DETERMINATION
127
11.9
GRADE
CAPPING/OUTLIER RESTRICTIONS
128
11.10
VARIOGRAPHY
129
CK Gold Project S-K 1300 Technical Report iii May 2026
11.11
ESTIMATION/INTERPOLATION
METHODS
131
11.12
CLASSIFICATION
OF MINERAL RESOURCES
133
11.13
GRADE
MODEL VALIDATION
134
11.14
REASONABLE
PROSPECTS OF EVENTUAL ECONOMIC EXTRACTION
137
11.15
MINERAL
RESOURCE STATEMENT
139
11.16
RELEVANT
FACTORS THAT MAY AFFECT THE MRE
145
11.17
QP
OPINION
145
12
MINERAL
RESERVE ESTIMATES
146
12.1
BASIS,
ASSUMPTIONS, PARAMETERS, AND METHODS
146
12.1.1
Pit
Optimization 2021
146
12.1.2
Value
Per Ton Cut-Off Grade Calculation
147
12.1.3
Differences
In Input Parameters from Final Financial Model
148
12.1.4
Dilution
and Ore Loss
149
12.2
MINERAL
RESERVES
151
12.3
CLASSIFICATION
AND CRITERIA
151
12.4
RELEVANT
FACTORS
151
13
MINING
METHODS
152
13.1
INTRODUCTION
152
13.2
GEOTECHNICAL
PARAMETERS AND GENERAL RECOMMENDATIONS
152
13.3
BLENDING
AND FINALIZING DESIGNS
153
13.3.1
Benching
Trials
153
13.3.2
Transitioning
from Single to Double Benches
153
13.3.3
Controlled
Blasting
155
13.3.4
Changes
to the Slope Design
156
13.3.5
Bench
Scaling and Cleaning Catch Benches
157
13.3.6
Slope
Monitoring
157
13.3.7
Visual
Inspection Monitoring
157
13.3.8
Ongoing
Data Acquisition, Verification and Updating Design Criteria
157
13.3.9
Slope
Depressurization Measures
158
13.3.10
Hydrogeological
Monitoring
158
13.3.11
Surface
Water Control
159
13.3.12
Contingency
Planning
159
13.4
HYDROGEOLOGICAL
PARAMETERS
159
13.5
MINE
DESIGN
164
13.5.1
Mine
Design Parameters
165
13.5.2
Waste
Rock Facility and Ore Stockpile design
165
13.6
STOCKPILE
STRATEGY
165
13.6.1
LG
Ore strategy
165
13.6.2
HG
Ore Strategy
167
13.7
MINE
SCHEDULE
167
13.8
WASTE
ROCK MANAGEMENT
168
13.9
MINING
FLEET REQUIREMENTS
168
13.9.1
Trade
Off Study Contractor vs Owner Operated
168
13.9.2
Equipment
Productivity and Usage
168
13.10
MINE
PERSONNEL REQUIREMENTS
169
13.11
MINE
END OF PERIOD PROGRESSION MAPS
171
CK Gold Project S-K 1300 Technical Report iv May 2026
14
PROCESS
AND RECOVERY METHODS
176
14.1
INTRODUCTION
176
14.2
PROCESS
PLANT DESIGN
178
14.2.1
Process
Design Criteria
178
14.2.2
Operating
Schedule and Availability
178
14.3
PROCESS
PLANT DESCRIPTION
178
14.3.1
Primary
Crushing
178
14.3.2
Crushed
Ore Stockpile and Reclaim
179
14.3.3
Grinding
Circuit
179
14.3.4
Flotation
and Regrind Circuits
180
14.3.5
Concentrate
Dewatering and Storage
182
14.3.6
Tailings
Dewatering and Storage
182
14.3.7
Reagent
Handling and Storage
183
14.3.8
Water
Systems
184
14.3.9
Air
Supply Systems
185
14.4
PROCESS
PLANT LABOR
185
15
INFRASTRUCTURE
187
15.1
ROADS
187
15.1.1
Project
Access Road
187
15.1.2
Ex-Pit
Haul Roads
187
15.2
ORE
STOCKPILE
193
15.3
WASTE
ROCK FACILITIES
197
15.4
TAILINGS
DISPOSAL
200
15.4.1
Chemical
Characteristics
200
15.4.2
TMF
Design and Construction
200
15.4.3
TMF
Environmental Management
209
15.4.4
Pit
Backfilling
209
15.5
MINE
INFRASTRUCTURE
209
15.6
PROCESS
PLANT
209
15.6.1
PLANT
FACILITY EARTHWORK
209
15.6.2
Layout
212
15.6.3
Equipment
216
15.6.4
Building
217
15.7
BUILDINGS
217
15.7.1
Admin
and Change House Building
217
15.7.2
Warehouse
218
15.8
POWER
AND WATER
219
15.8.1
Power
Supply
219
15.8.2
Power
Distribution
219
15.8.3
Water
Supply
220
15.8.4
Potable
Water
221
15.8.5
Waste
Disposal
221
16
MARKET
STUDIES
222
16.1
FLOTATION
CONCENTRATES
222
16.2
GENERAL
CONSIDERATIONS
222
16.2.1
Accountable
and Deleterious Metals
223
16.2.2
Production
Schedule
223
16.2.3
Metal
Pricing
225
16.2.4
Smelting
and Refining Charges
225
16.2.5
Transportation
226
16.3
MINING
CONTRACT
226
16.4
OTHER
CONTRACTS
226
CK Gold Project S-K 1300 Technical Report v May 2026
17
ENVIRONMENTAL
STUDIES
227
17.1
INTRODUCTION
227
17.2
ENVIRONMENTAL
STUDIES
227
17.2.1
Baseline
Characterization
227
17.2.2
Groundwater
Modeling
238
17.2.3
Tailings
Seepage and Stability Analysis
243
17.2.4
Geochemical
Characterization of Mine Rock and Tailings
243
17.3
REQUIREMENTS
AND PLANS FOR WASTE AND TAILINGS DISPOSAL, SITE MONITORING, AND WATER MANAGEMENT
246
17.3.1
Waste
Rock and Tailings Management
246
17.3.2
Site
Monitoring
250
17.3.3
Water
Management
251
17.4
REQUIRED
PERMITS AND STATUS
261
17.4.1
Approved
Jurisdictional Determination
261
17.4.2
Public
Water Supply Permit
262
17.4.3
Exploration
Permit
262
17.4.4
Mine
Operating Permit
262
17.4.5
Air
Quality Permit to Construct and Operate
263
17.4.6
Industrial
Siting Permit
264
17.4.7
Water
Quality Division Permits
265
17.4.8
State
Engineer’s Office Permits for Water Use and Related Facilities
266
17.4.9
State
Historical Preservation Office
267
17.4.10
State
Fire Marshal Permits
267
17.4.11
Laramie
County Permits
267
17.5
LOCAL
INDIVIDUALS AND GROUPS
267
17.6
MINE
CLOSURE
268
17.7
ADEQUACY
OF PLANS
269
17.8
COMMITMENTS
TO LOCAL PROCUREMENT OR HIRING
270
18
CAPITAL
AND OPERATING COSTS
271
18.1
CAPITAL
COST ESTIMATE
271
18.1.1
Initial
Capital Cost Summary
271
18.1.2
Direct
Cost
272
18.1.3
Indirect
Cost
276
18.1.4
Contingency
276
18.1.5
Owner’s
Cost
277
18.1.6
Assumptions
and Exclusions
277
18.1.7
Initial
and Sustaining Capital Cost
277
18.2
OPERATING
COST ESTIMATE
278
18.2.1
Mining
279
18.2.2
Process
Plant
285
18.2.3
Lubricants
290
18.2.4
Contracts
(Support/Maintenance, Fixed and Variable)
290
18.2.5
Abnormal/Miscellaneous
Items and Contingencies
290
18.2.6
Fresh
Water
291
18.2.7
Tailings
Fixed Cost
291
18.2.8
Training
291
18.2.9
Assay/General
Laboratory - Plant Costs
291
18.2.10
General
and Administrative
291
CK Gold Project S-K 1300 Technical Report vi May 2026
19
ECONOMIC
ANALYSIS
293
19.1
INTRODUCTION
293
19.2
CAUTIONARY
STATEMENT
293
19.3
ECONOMIC
MODEL
294
19.4
MODEL
PARAMETERS
294
19.5
PRODUCTION
AND SALES
296
19.6
CAPITAL
EXPENDITURES
299
19.7
OPERATING
COSTS
300
19.8
AGGREGATE
PRODUCTION AND SALES
301
19.9
TAXES,
ROYALTIES, DEPRECIATION AND DEPLETION
301
19.10
BASE
CASE CASHFLOW
303
19.11
SENSITIVITY
STUDY
306
19.12
CONCLUSION
307
20
ADJACENT
PROPERTIES
308
21
OTHER
RELEVANT DATA
309
21.1
AGGREGATE
PRODUCTION
309
21.2
AGGREGATE
MARKET STUDY
309
21.2.1
Aggregate
Quality
309
21.2.2
Market
Opportunity
309
21.2.3
Production
Scenarios
310
21.2.4
Economics
and Pricing
310
21.2.5
Resources
and Mine Life
310
21.2.6
Strategic
and Environmental Benefits
310
21.3
AGGREGATE
PRODUCTION AND SALES
310
22
INTERPRETATION
AND CONCLUSIONS
312
22.1
METALLURGICAL
TESTWORK INTERPRETATION
312
22.1.1
General
312
22.1.2
Sampling
313
22.1.3
Mineralogy
314
22.1.4
Comminution
314
22.1.5
Gravity
Concentration
318
22.1.6
Rougher
Concentrate Regrind
318
22.1.7
Flotation
Parameters
319
22.1.8
Concentrate
Dewatering
319
22.1.9
Tailing
Dewatering Parameters
320
22.1.10
Metallurgical
Recovery Prediction
320
22.2
RISKS
AND OPPORTUNITIES
324
22.2.1
Risks
324
22.2.2
Opportunities
325
22.3
OTHER
RELEVANT DATA AND INFORMATION
327
CK Gold Project S-K 1300 Technical Report vii May 2026
23
RECOMMENDATIONS
328
23.1
PROJECT
ADVANCEMENT
328
23.2
PROJECT
DEVELOPMENT
328
23.2.1
Deposit
Understanding
328
23.2.2
Future
Metallu

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