USCorp Announces Drilling On Twin Peaks Project to Commence in November
October 06 2011 - 8:30AM
Business Wire
USCorp (OTCMarkets: USCS) today announced that drilling on the
Twin Peaks Project in Arizona will commence next month. Boart
Longyear has been retained to conduct the recently approved
drilling program.
This diamond bit core drilling program will complete the final
phase of our three phase drilling program that was interrupted in
2008. It will also drill the areas that have been recently
identified from assay results taken from surface grab samples that
we disclosed in our July 11, 2011 press release. The additional
drill locations were chosen after careful review of the site by
Pincock, Allen & Holt (PAH) and our exploration team. In a
report summarized in our August 23, 2011 press release, PAH’s Chief
Geologist stated: “…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.” Two additional lengthy quartz
vein structures were discovered after this report was written.
Robert Dultz, Chairman and CEO of USCorp said: “We are very
optimistic that this drilling program will confirm the expectations
we have for this property because of the recent discovery of
additional quartz dikes several miles long with widths of 30, 60,
and 90 feet in spots, and depths of at least 400 feet based on
exposed sections. Until the drilling exploration is completed, we
will not know the full extent of the width and depth of these five
gold and silver bearing quartz structures. We expect to get the
results early in 2012, possibly sooner.”
Boart Longyear is the leading provider of mineral exploration
drilling services and drilling products in the world. The Company
is the only integrated drilling services and products provider,
combining engineering excellence, global manufacturing facilities
and the most experienced drilling services group in the business.
With over 120 years of global mineral exploration expertise and the
most innovative products in the market, Boart Longyear ultimately
delivers unmatched reliability, productivity and safety to the
worksite.
From 1979 through 2011 several modern exploration programs have
been conducted on the Twin Peaks claims, each one confirming and
extending the knowledge gained in prior exploration work.
On March 22, 2011 USCorp through its wholly owned subsidiary
USMetals, Inc. entered into an Asset Funding/Operation and
Shareholders Agreement, and exhibits thereto (the “Agreement”) with
Arizona Gold Corp., a private British Columbia Corporation (“AGC”)
and its wholly owned subsidiary, AGC Corp (“AGCAZ”), a private
Arizona company, providing for the sale of USMetals’ 172 Arizona
mining claims to AGCAZ in exchange for 90,200,000 shares or over
50.1% of AGC’s common stock. The Twin Peaks Project now consists of
268 Lode and 8 Placer Claims on approximately 5,520 acres in
Yavapai County, Arizona. USCorp owns the gold Picacho Salton
project located in Imperial County, California.
More information about USCorp can be found at the company’s
website: www.uscorpgold.com or 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
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 events.
USCorp (CE) (USOTC:USCS)
Historical Stock Chart
From Jun 2024 to Jul 2024
USCorp (CE) (USOTC:USCS)
Historical Stock Chart
From Jul 2023 to Jul 2024