U.S. GoldMining Inc. (NASDAQ: USGO) has released a preliminary economic assessment for its Whistler project in Alaska, outlining average production of approximately 250,000 gold equivalent ounces per year over a 15-year mine life, including roughly 345,000 gold equivalent ounces annually in the first three years. Speaking with Kitco Mining at PDAC 2026, CEO Tim Smith said the study returned a 33% after-tax internal rate of return using base case assumptions of $3,200 gold and $4.50 copper.
Whistler contains more than 1 billion pounds of copper and nearly 20 million ounces of silver, with roughly 75% of project value derived from gold. “We are on state of Alaska mining claims, so we're just dealing with a single regulator,” Smith said, citing permitting advantages. Metallurgical testing achieved 89% gold recoveries, and higher-grade mineralization comes to surface, supporting stronger early production. At higher pricing assumptions, Smith said, “We go from 33 to 62%, after tax,” as the company advances toward pre-feasibility and prepares for additional district-scale drilling in 2026.
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00:54 - Critical Minerals Tailwinds
03:06 - Alaska Permitting Advantage
04:12 - District Scale Exploration Upside
06:36 - 2026 Drilling Game Plan
07:32 - Whistler PEA Key Drivers
09:46 - Metal Price Sensitivity
10:53 - Access Road and Infrastructure
13:40 - Next Six Months Inflection
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