U.S. Gold Corp. (NASDAQ: USAU) outlined potential value enhancement opportunities for its CK Gold Project in southeast Wyoming following the release of its feasibility study on March 31, 2026.

The feasibility study established an after-tax net present value of $632 million using base case metal prices of $3,250 per ounce gold, $4.50 per pound copper, and $40 per ounce silver. Using recent spot metal prices of $4,500 per ounce gold, $5.50 per pound copper and $70 per ounce silver, the after-tax net present value increases to $1.30 billion.

The company identified several potential expansion opportunities beyond the current mine plan. These include incorporating approximately 900,000 gold equivalent ounces of mineral resources not included in the current production schedule but within the mineral resource pit. The company stated this could represent over 500,000 gold equivalent ounces of additional production potential at current recoveries.

US Gold indicated potential to increase gold recoveries from approximately 70% to roughly 95% through cyanidation of flotation tailings, which could add approximately 250,000 ounces of recovered gold from the current mine plan.

The company also outlined plans for an aggregate and rail ballast business using granodiorite waste rock. In the current mine plan, approximately 70 million tons of rock will be mined, with about 40 million tons potentially available as aggregate and ballast feedstock. Local pricing of $20-$25 per ton was cited.

"The Feasibility Study confirms CK as a fully permitted, construction-ready gold-copper project with robust economics, especially at current metal prices," said US Gold Chairman Luke Norman.

The company's action plan includes finalizing project financing, initiating development of the CK Gold Project, evaluating additional processes to increase gold recoveries, and exploring partnerships for the aggregate opportunity.