USCorp Says Pincock Allen & Holt Report Technical Observations Conclude There is Significant Upside Potential at Twin Peaks P...
19 July 2011 - 1:29AM
Business Wire
USCorp (OTCMarkets: USCS) today announced that in its initial
report to Arizona Gold Corporation (AGC), earlier this year,
Pincock Allen & Holt confirmed that “the Twin Peaks Property
has definite upside potential, that a potential five million tons,
or more of resources reside in three lengthy quartz vein
structures, including two discovered during PAH’s site visit and
that other gold and silver mineralization also occurs at fault
intersections and in known historical workings on the
property.”
The report, which was prepared following a visit by geologists
to the site and extensive review of the Arizona Land Mines
historical data on the Twin Peaks project, strongly recommended the
staking of the recently announced additional claims, where several
new quartz veins were discovered during the PAH visit. The report
also recommended a 13,000 foot drilling program to test the five
significant areas of potential mineralization and vein
structures.
Additionally, surface grab samples in the area provided assay
results that were “exceptionally exciting and confirmed our
original expectations for the area,” said Robert Dultz, Chairman
and CEO of USCorp. “In a grab assay situation, one would be very
happy if 20% of the samples showed the presence of gold and silver.
Assay results from samples taken over a period of several weeks
this spring and prepared by highly respected Jacobs Assay Office,
established in 1880, indicated that of the 105 samples 48 of them
or 45.7% showed the presence of gold above 0.10 per ounce ton
and/or silver above 0.25 per ounce per ton. “These assay results
confirm that the Twin Peaks Property is everything that I always
believed it to be,” Dultz said. Some selected examples of these
assays include:
Samples
AU oz/t
AG oz/t
QDER .010 17.95 PIC .002 .45 SDW2 1.152 1.05 WASSAMI* .736 23.35
BSOC1 .902 53.00 WENCRBS (duplicate) .380 .40 WCQZ .599 .25
DUPLICATE WCQZ .663 .60
*taken from sand/gravel at base of dike
The above assays are primarily those taken from the new claim
area recommended by Pincock Allen & Holt and secured by the
Company.
The Twin Peaks property lies seven miles southwest of Bagdad,
Arizona, which is the site of one of Freeport McMoRan’s large
porphyry copper mines. The property sits northwest of the Santa
Maria River, and east of State Highway 93 between Highway 96 and
97. Records indicate that precious metals have historically been
found at the properties including the Hayes silver Mine, the Crosby
Mine, and the Glory Hole Mine. Mining was curtailed during World
War II. In the early 1980s as a result of the rising gold prices, a
flurry of exploration activity with some drilling occurred. USCorp
acquired USMetals in 2002. At that time USMetals owned 134 of the
claims that make up the Twin Peaks Project. From 1979 through 2008
several exploration programs have been conducted in the area. Today
the Twin Peaks Project consists of 276 claims over 5,520 acres in
Yavapai County, Arizona.
About USCorp
USCorp also has the gold Picacho Salton project located in
Imperial County, California.
Information about USCorp can be found at the company’s website:
www.uscorpnv.com.
SAFE HARBOR ACT DISCLAIMER NOTICE
“SAFE HARBOR” STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: The statements contained in this release which
are not historical facts are forward-looking statements that are
subject to risks and uncertainties that could cause actual results
to differ materially from those set forth in or implied by
forward-looking statements. These risks and uncertainties include
the Company's entry into new commercial businesses, the risk of
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and other risks described in the Company's Securities and Exchange
Commission filings. The forward-looking statements in this press
release speak only as of the date hereof, and the Company disclaims
any obligation to provide updates, revisions or amendments to any
forward-looking statement to reflect changes in the Company’s
expectations or future events.
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