U.S. GoldMining's 15min chart sees Bollinger Bands Narrowing, KDJ Death Cross, and Bearish Marubozu.

Based on the 15-minute chart of U.S. GoldMining's stock, the Bollinger Bands have narrowed, indicating a decrease in the magnitude of stock price fluctuations. Additionally, the KDJ Death Cross and Bearish Marubozu signals at 10:45 on October 20, 2022 suggest a shift towards the downside in the momentum of the stock price, with potential for further decreases. Sellers are in control of the market, and this bearish momentum is likely to continue.

GoldMining Inc. (TSX: GOLD, NYSE American: GLDG) has reported initial assay results from its 2025 Reverse Circulation (RC) drilling program at its 100% owned São Jorge Project in the Tapajós gold district, Pará State, Brazil. The company is pleased to announce the discovery of four new gold prospects within a 3.5-kilometer radius of the existing São Jorge deposit. The drilling program, which is part of the most extensive exploration effort undertaken by GoldMining to date, has completed a total of 8,514 meters of drilling, including 3,862 meters of diamond core, 2,553 meters of RC, and 2,100 meters of auger drilling, according to a Yahoo Finance release.

The initial results highlight the potential for significant new mineralization. Four drill targets have returned +1g/t Au intercepts, warranting immediate additional step-out RC drilling to delineate the geometry and extent of mineralization. These targets include Dragon West, located 2.5 km west of the deposit; William North, 3.3 km north of the deposit; Ivonette, 2 km southeast of the deposit; and William South, 2 km north of the deposit. The company plans to follow up with deeper diamond core drilling at these prospects, the release said.

The São Jorge project is a granite-hosted, intrusion-related gold deposit, similar to the Tocantinzinho gold mine located approximately 80 km northwest of São Jorge. The project's extensive geochemical footprint, covering an area of 12 km by 7 km, suggests a large mineral system. The ongoing 2025 geophysical program, including Induced Polarisation (IP) surveys, aims to provide a comprehensive 3D interpretation of potential sulphide mineralization, the release added.

GoldMining's Chief Executive Officer, Alastair Still, commented: "These initial assay results demonstrate at least four new zones of mineralization that have never previously been drilled, each of which occurs more than 1 km away from previously known mineralization. The nature and style of mineralization, similar to that of the existing mineral resources at the São Jorge deposit, have ideally positioned us for follow-up drilling that will be designed to better define and quantify additional near-surface mineralization occurring over a 12 km x 7 km geochemical footprint identified over the São Jorge property-scale mineral system," Mr. Still said in the release.

The company's exploration activities are facilitated by the excellent infrastructure at the 46,000-hectare project, including an existing 50-person camp and easy access to paved highway and grid power. Further planned activities include the resumption of RC drilling in the near term to complete step-out drilling on the new discoveries and potential for additional follow-up diamond core drilling, the release noted.