US Tungsten Corporation Announces Completion of Geological Report
08 June 2013 - 6:30AM
Marketwired
US Tungsten Corporation ("US Tungsten" or "USTU") (OTCQB: USTU), a
company focused on becoming a near-term North American tungsten
producer with the re-development of the historically productive
Calvert Mine in SW Montana, is pleased to announce the completion
of their Guide 7 Geological Report on the Calvert Tungsten
Property, Beaverhead County, Montana.
Report Summary:
The Calvert Mine Tungsten property is located in southwestern
Montana approximately 40 miles southwest of the City of Butte and
11 miles northwest of the village of Wise River. The Calvert Mine
property is located within section 12, Township 1 North, Range 13
West and centered on 113.158W Longitude and 45.854N Latitude. The
aggregate area covered by the claims is 1,404.88 acres.
The Calvert Mine property consists of 68 Lode claims (totaling
1,404.88 acres) located entirely on state land within the
Beaverhead County Recording District.
The Calvert area is part of the north western portion of the
eastern Pioneer Mountains and is underlain by early Proterozoic
crystalline rocks of the belt supergroup associated with roof
pendants, thrust blocks of Mississippian to Cretaceous aged
sediments and metavolcanics. The entire package has been intruded
by Tertiary and late Cretaceous tonalites, granites and andesite
dykes. The area lies on the northern edge of the Pioneer batholith,
a composite granitic body of late Cretaceous to early Paleocene age
that intruded the previously folded and faulted sediments.
The main units of interest from a tungsten exploration point of
view are the late Cretaceous intrusions in contact with the
Mississippian to lower Pennsylvanian calcareous sediments and
limestone. These units form a narrow northwest trending belt that
parallel the regional structures and make an excellent target for
additional exploration.
Exploration activities on the Calvert Mine site are strictly
historical in nature. Tungsten mineralization on the Calvert
property was first discovered in 1956 during a time when the US
government provided aid for exploration through the Defense
Minerals Exploration Administration. In the same year Minerals
Engineering Company of Grand Junction, Colorado leased the property
and completed an exploration drill program in the same year leading
to a production decision in September 1956. Mining operations by
open pit methods were completed between the periods 1956-1957 and
1959-1962 where 217,937 tons of ore were produced at a grade of
1.10% WO3 and shipped to the company processing facilities at Glen
Montana. Additional exploration campaigns were completed in 1966,
1967 and 1971 by Minerals Exploration Company resulting in a
historical proven in-ground reserve of 128,000 tons at a grade of
1.1% WO3. No recent exploration campaigns have been completed on
the Calvert Mine Tungsten property.
An exploration program is recommended including drilling to
confirm the existence of these historical reserves below the
Calvert open pit and its potential down plunge extension to the
southeast.
A copy of the Geological Report will be available on the company
website at www.ustungsten.com.
Michael Olsher Ph.D., CEO -- US Tungsten -- commented:
"As the company's CEO, I am very excited by the findings in this
report and we feel strongly that the Calvert Mine has the potential
to become the United States' first producing tungsten mine in
several decades." Dr. Olsher further states "This report covers
only two of the 68 claims we have in the Calvert Area. We look
forward to further exploration of our existing claims".
ABOUT US TUNGSTEN CORP:
U.S. Tungsten Corp. was built upon one mandate: The best way to
solve the looming crisis in domestic tungsten supplies is to find
tungsten right here at home.
As a result, US Tungsten has assembled an advisory board
representing 30+years experience in the areas of Geology,
Permitting, Legal and Governmental Issues, and Marketing,
specifically for the Calvert Project. The company's initial focus
is in the western US where tungsten was mined in the past, and is
also home to many discoveries that remain undeveloped. The last
tungsten mine in the US closed in 2000 and no domestic tungsten
mining has occurred since. Historic tungsten mines and occurrences
are found in the West, particularly in Montana, California, Nevada,
Colorado and Arizona.
Beginning early in 2012, the company launched their specialty
metals search in Montana. US Tungsten's first acquisition was a
property in the western portion of the state where historical
mining has produced high grade tungsten through 1956 - 1957.
Following our initial prospecting and assessment, we plan to
conduct initial exploration in 2012 and 2013.
US Tungsten's goal is to expand our holdings through aggressive
prospecting and staking across the western U.S, building a
domestic, secure project portfolio of tungsten and other specialty
metals projects.
SAFE HARBOR STATEMENT:
"Forward-looking statements," as that term is defined in Section
27A of the United States Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934. Statements which are not
purely historical are forward-looking statements and include any
statements regarding beliefs, plans, expectations or intentions
regarding the future including, but not limited to, additional
acquisitions. Actual results could differ from those projected in
any forward-looking statements due to numerous factors. Such
factors include, among others, the inherent uncertainties
associated with mineral exploration. US Tungsten, Corp. assumes no
obligation to update the forward-looking statements, or to update
the reasons why actual results could differ from those projected in
the forward-looking statements. Although we believe that the
beliefs, plans, expectations and intentions contained in press
release are reasonable, there can be no assurance that such
beliefs, plans, expectations or intentions will prove to be
accurate. Investors should consult all of the information set forth
herein and should also refer to the risk factors disclosure
outlined in our current and periodic reports filed from
time-to-time with the Securities and Exchange Commission.
For further information, please visit the
company's website: www.ustungsten.com
US Tungsten Corp. Tel: 702-940-2323 Fax: 702-952-0400 email:
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