USCorp (OTCMarkets: USCS.PK) today announced that USCorp has
received the Geologist report regarding the 2011-2012 drilling
program at the Twin Peaks Project site. The report has been
reviewed by USCorp’s Mining Consultant, Edwin Arbar, who has
provided the company with an analysis that is summarized below:
Project Description and Contractors
Arizona Gold Corporation (“AGC”) contracted Pincock, Allen &
Holt (“PAH”), an internationally known consulting firm, as AGC’s
Project Consultants and Managers. The original PAH Chief Geologist,
Barton Stone, began reconnoitering the Twin Peaks project and
surrounding areas. Barton Stone then outlined a 13,000 feet
drilling program to be directed at five (5) high interest areas of
mineralization. Mr. Stone also recommended taking samples at five
(5) foot intervals of cored rock. The five (5) foot sample interval
for assay tests is a Mining Industry Standard.
The primary operator with total Project responsibility during
the Phase 3 Drilling program was Arizona Gold Corporation (“AGC”).
AGC contracted Michael Krokosc at the behest of PAH’s Geologist
Craig Horlacher. Mr. Horlacher replaced Mr. Barton Stone who was
the previous and first PAH Geologist on the Phase 3 contract at
Twin Peaks. Mr. Stone was later reassigned by PAH before drilling
was initiated.
The newly appointed PAH Chief Geologist, Craig Horlacher,
formulated a sampling protocol for this project. Samples were to be
taken at one (1) foot intervals and a portion of the split sample
was sent to Arizona Assay Laboratory (“AAL”) to be fire assayed for
gold and silver. One-half of each sample was kept by AGC in a
secured site at the project office in Wickenburg, Arizona, for
future reference. The assayer was instructed to retain all “pulp”
material for each sample sent to them for processing and assaying.
The samples of “pulp” and the remaining one-half of the core
samples are now in the process of being re-checked by
spectrographic analysis (XRF) for any metal content that may have
been missed or inadvertently overlooked by the assay laboratory,
AAL.
AGC contracted Boart Longyear Drilling Services (“BLDS”), rated
as one of the largest international drilling companies in the
mining industry. BLDS was hired to drill at locations thought to be
drill targets of ore. PAH and AGC Geologists initially identified
five (5) areas as prime locations to intersect precious metal
deposits.
AGC initiated Phase 3 drilling program at Twin Peaks on November
9, 2011 in the Hayes Mine area. The objective was to drill
alongside and then drill through the Quartz Dike at the Hayes Mine
area. PAH has issued positive statements regarding the potential of
the Twin Peaks property. PAH stated “Twin Peaks Property has
definite upside potential” and continued, “that a potential five
million tons, or more of resources reside in the lengthy quartz
vein structures…” Recent visits by Geologists and Mining Consults
have suggested that the Quartz Dikes are a major part of the
structurally controlled mineralization that has occurred at the
Hayes Mine and other locations. The Hayes Mine was a prolific
mineral producer. The mineral production was not from the Dike
itself, but from the footwall area that parallels the Quartz
Dike.
Michael Krokosc, AGC Chief Geologist, maintained the “sampling
protocol” formulated by PAH Geologist, Craig Horlacher, by taking
assay test samples at one (1) foot intervals of cored rock
material.
Analysis
There are several lessons learned from the experience of Phase 3
Drilling Project. Number one is the importance of concentrating on
locating and testing when encountering the pathfinder metals, Iron
and Iron Oxides, when associated with Quartz Dikes or any other
rock structure. Ore has appeared in host rocks such as metagranites
and schists that are often associated with the Quartz Dikes.
Historical Geology comes into play with the association and
relationships of various lithologies, which must be studied and
recorded further in greater detail.
Quartz Dikes were formed millions of years ago by migrating
magmatic solutions under intense heat and pressures thereby filling
some fault systems on Twin Peaks that are now prominent Quartz and
Pegmatite Dikes. While some faults were being filled with magmatic
solutions, some faults were filled to form Quartz Dikes. The
tectonic forces caused crushing, heavy fracturing and folding of
existing rock structures that allowed the Hydrothermal
(mineralized) waters to penetrate, disseminate and (sometimes)
deposit metals throughout the fault/fracture zones. This process
sometimes included Quartz Dikes and related dike systems. In other
words, mineralization came long after the Quartz Dikes were formed.
The mineralization was structurally controlled by fault systems and
Dikes of all types (including Pegmatite Dikes).
Since it has been determined that mineralization came AFTER the
Quartz Dikes were formed, it is now known that the origin of the
mineral waters was probably from a massive detachment fault system
located at great depths. Blocks of regional plates passed over each
other by tectonic forces related to continental subduction.
Although the Phase 3 drilling project did not produce the number
of expected results, the project Geologist and others are confident
they know where the Feeder may be located. The Feeder location that
fed the ore found and mined at the Crosby, Hayes, Swiss Belle and
Glory Hole mines can be better identified.
New, state-of-the-art techniques and scientific instruments will
be used by USMetals to capitalize on newly discovered locations as
a result of the Phase 3 drilling program where significant gold
values were discovered during the program, but not pursued, as the
company believes should have been by geophysical surveying and
testing to identify the structures where the Phase 3 core driller
made a significant gold hit.
Next Steps
A new plan has been put in place to execute a new drilling
program based on the planned geophysical 3-D model that will show
the gold target(s) including size and depth of the target.
New ASTER satellite photos have recently been obtained for
interpretation by a USMetals contractor. The interpretations will
zero in on “geo-magnetic” and “mineral alteration” areas with
readings that are then interpreted to identify target areas that
indicate deep structural features and areas of alteration that are
then targeted for geophysical (sub-surface) exploration.
A geophysical crew will conduct magnetic (magnetometer), VLF
(very low frequency), and I. P. (Induced Polarity) surveys in the
ASTER targeted areas that will ultimately produce 2-D and 3-D
models showing specific locations as drill targets. These
scientific procedures (previously unused) will eliminate reliance
on visually targeted surface mineralization areas that was
previously used by AGC during Phase 3 Drilling Project to locate
the drill holes.
The geophysical tests are capable of showing details of
sub-surface geological structures up to one thousand (1,000) feet
(or more) below surface. USMetals has integrated this new
technology for the next phase by employing state-of-the-art
technologies previously not used on the Phase 3 drilling project.
Newly formulated and patented mineral location Software, NASA
satellite technology and complex Electo-Therm computerized systems
can now reveal detailed sub-surface geology by sending electrical
signals down through solid rock structures to locate Minerals, Oil
and Gas.
Robert Dultz, Chairman, President and CEO of USCorp and
USMetals, said, “The complete Geologists’ report, including drill
location maps and assays, will be made public in the near future;
we are continuing to analyze it for the purpose of formulating a
more prudent plan going forward as we have a far better
understanding today of mineralization on the property. We recognize
that this has been a very difficult and long road for the company
and its shareholders, but we remain committed to this project and
are confident that we can achieve our expectations for this
property. I appreciate the thoroughness of Edwin Arbar’s summary
which we have excerpted in this press release.”
USCorp is an exploration stage company with gold and silver
projects in Arizona and California. Information about USCorp can be
found at the company’s website: http://uscorpgold.com.
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
obtaining financing, recruiting and retaining qualified personnel,
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 results.
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