GoldMining (GOLD.TO and NYSE American: GLDG) was at last look 0.1% higher in US premarket on Tuesday after highlighting an updated mineral resource estimate released by its publicly traded subsidiary, U.S. GoldMining (NASDAQ: USGO), for the Whistler Gold-Copper Project in Alaska.
The highlights of U.S. Goldmining's announcement include indicated mineral resource of 294 million tonnes at 0.68 grams per tonne gold equivalent for 6.48 million ounces AuEq and inferred mineral resource of 198 Mt at 0.65 g/t AuEq for an additional 4.16 Moz AuEq.
"Since the initial public offering of U.S. GoldMining in April 2023, we are extremely pleased by the progress of its exploration initiatives at the Whistler Project, which have resulted in strengthened confidence of the Whistler MRE by increasing the gold equivalent ounces in the indicated category by approximately 117% from prior estimates," said GoldMining Chief Executive Alastair Still. "The successful 2023 drilling program and growth of the mineral resources at Whistler is an example of how our spin-out strategy continues to unlock value for GoldMining shareholders."
Yesterday, GoldMining was unchanged on the TSX at $1.29.
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