USCorp and Subsidiary USMetals, Inc. Release Summary of Recently Completed Drilling Program
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.
USCorp
Robert Dultz, Chairman and CEO
robert@uscorpgold.com
or
Martin
E. Janis & Company, Inc.
Beverly Jedynak, 312-943-1123
bjedynak@janispr.com