U.S. Gold Awards Contract to Cheyenne Light, Fuel and Power Company for CK Gold Project Power Line

U.S. Gold Corp has signed an engineering and procurement contract with Cheyenne Light, Fuel and Power Company for its CK Gold Project in Wyoming. The agreement marks the first step towards constructing a power line to provide electricity to the project, which is expected to require 30 megawatts of power. The contract includes development of general arrangement drawings, substation design, and environmental and permitting activities.

U.S. Gold Corp. (NASDAQ: USAU) has taken a significant step forward in the development of its CK Gold Project in Wyoming by signing an engineering and procurement contract with Cheyenne Light, Fuel and Power Company (CLFP), a subsidiary of Black Hills Corp. The agreement marks the first step toward constructing a power line to provide electricity to the project, which is expected to require 30 megawatts of power.

The contract includes various activities such as the development of general arrangement drawings, substation design, project scheduling, budgeting, land rights, environmental permitting, regulatory filings, and procurement of long-lead materials. These tasks are crucial for the successful execution of the CK Gold Project.

The CK Gold Project, situated in southeast Wyoming, is a key asset for U.S. Gold Corp., with a Preliminary Feasibility Study technical report completed by Samuel Engineering Inc. The project is part of U.S. Gold Corp.'s portfolio, which also includes exploration properties in Nevada and Idaho.

This contract is a significant milestone for U.S. Gold Corp., as it moves closer to the development phase of the CK Gold Project. However, it is important to note that the success of the project is subject to various risks, including market conditions, environmental and regulatory risks, and the ability to raise sufficient capital for development and future drilling programs.

References:
[1] https://finance.yahoo.com/news/u-gold-corp-signs-engineering-120000191.html
[2] https://ca.finance.yahoo.com/news/u-gold-corp-signs-engineering-120000689.html
[3] https://www.stocktitan.net/news/USAU/u-s-gold-corp-signs-engineering-and-procurement-contract-with-b142aiprq5tz.html