The CK Gold Project, located just 20 miles west of Cheyenne in Wyoming’s historic Silver Crown Mining District, is gaining strong momentum. With key state permits secured, a local permit hearing scheduled for June 17, and gold prices soaring past $3,300 per ounce, the project’s future looks increasingly promising.
Local Permitting in Progress and Capital Plans Underway
U.S. Gold Corp., the owner of the CK Gold Project, is preparing to present its case before the Laramie County Board of Commissioners. The company seeks approval for local permitting, a major milestone that follows the recent state-level green light.
The project’s estimated $300 million capital requirement is part of a broader push to secure financial backing. U.S. Gold Corp. is currently courting investors and financiers with its plan to develop a technically simple, high-potential mine.
Market Enthusiasm Boosts Stock and Sentiment
Investor sentiment is on the rise. New York-based H.C. Wainwright recently upgraded its price target for U.S. Gold Corp. (NASDAQ: USAU) stock from $14 to $15, signaling increased confidence. As of Wednesday, shares were trading at $11.29.
Much of that optimism is driven by record-high gold prices, which hit $3,323 per ounce this week. However, the company is cautiously optimistic, basing its financial projections on a conservative gold price of $2,100 per ounce.
“We’re not betting the project on today’s highs,” said Jason Begger, external affairs consultant for U.S. Gold Corp. “We’re aiming for realistic, justifiable numbers for long-term success.”
From Abandoned Mine to Strategic Asset
The CK Gold Project sits atop the historic Copper King Mine, once a bustling operation in the early 1900s. Now little more than ruins near the ghost town of Hecla, the site was abandoned in the 1920s due to low prices and technical limitations of the time.
Gold was only $35 an ounce back then, and copper wasn’t particularly lucrative. Today, with modern mining techniques and significantly higher commodity prices, the site is being revitalized.
George Bee, U.S. Gold Corp.’s CEO, saw untapped potential when he reviewed the site and urged the company not to sell but instead develop the asset.
“It’s a technically simple project in a fantastic jurisdiction,” said Bee. “It would be a mistake not to develop it.”
Economic Impact: Jobs, Infrastructure, and Revenue
According to a University of Wyoming economic analysis, the CK Gold Project could generate:
- 2,600 direct and indirect jobs
- $70–$80 million in taxes and royalties over its 10-year operational life
- Significant new infrastructure, such as roads, power lines, and water systems
These upgrades won’t just benefit the mine—they’ll also support regional development for years to come, boosting education, healthcare, and transportation services across the county.
Green Mining: A Focus on Sustainability
Unlike older mining operations, the CK Gold Project is emphasizing environmental responsibility.
There will be no smelting onsite. Instead, gold and copper will be extracted from chalcopyrite using froth flotation, a modern process that uses minimal chemicals and recycled water.
“We’re using a filtration press to recover and reuse nearly all the water,” said Bee. “It’s a dry-stacking system that minimizes our environmental footprint.”
The leftover material—called filter cake—is like spent coffee grounds. It will be used to help revegetate the site with native plants after the mine closes.
Looking Ahead
With the June 17 permit hearing approaching and strong fundamentals in place, the CK Gold Project is well-positioned to become one of Wyoming’s most impactful mining ventures.
“It’s not just a gold mine—it’s a catalyst for regional growth and a model for sustainable mining in the U.S.,” Bee concluded.
