USGold Discovers New Gold Veins

US Gold UXG has found 3 gold-bearing veins near its El Gallo project in Sinaloa state, Mexico according to a US Gold report earlier today. Rob Mcewan, US Gold's chairman and CEO stated, "The discovery of these veins illustrates the exploration potential of US Gold's large land package around El Gallo. Follow-up drilling has commenced with the objective of further extending the mineralization. Seven drills are currently operating at the project and we expect this pace to continue throughout 2011." US Gold goes on to say, "Each of the three gold veins appears to have the potential to extend at depth and laterally. In addition, several other gold and silver veins have been discovered through prospecting and geological mapping. Drilling has commenced on these new veins as well."