USCorp announces results of drilling and discusses the effects of unwinding its Agreement with Arizona Gold Corp.
Results of Drilling: Assay results from USCorp’s Twin Peaks Project in Arizona showed several high gold and silver concentrations from the Phase 3 drilling program. Originally Arizona Gold Corp. (AGCBC) planned to drill 13,000 lineal feet to test five significant areas on the advice of Pincock Allen & Holt’s geologists. These drilling plans were seriously impacted by Bureau of Land Management (BLM) restrictions on “surface disturbance.” Ultimately 27 core holes were drilled, representing 6,106 lineal feet of cored rock. 2,360 samples were taken from the cored rock and sent for fire assay. Many surface samples were also sent to the assay lab for gold and silver for assay.
Five of the more important core assay results follow:
- Hole #DW11-1D - 20.2 ounces silver per ton at a depth of 197-198 feet.
- Hole #DW11-1D - 21.8 ounces silver per ton at a depth of 198-200.5 feet.
- Hole #DW11-2S - .006 ounces gold per ton at a depth of 67-70 feet.
- Hole #S11-4 - .014 ounces gold per ton at a depth of 29-32 feet.
- Hole #DW11-2D0 - 7.50 ounces silver per ton at a depth of 237-238 feet.
Seven of the more important surface sample assay results follow:
- Surface sample, GPS#323; granitic "Red Ore" - .322 ounces per ton gold; Southeast Quest area.
- Surface sample, GPS#365; granitic hematite/Iron Oxides - .309 ounces per ton gold; Southeast Quest area.
- Tunnel sample, GPS#365; granitic hematite/Iron Oxides - .269 ounces per ton gold; Southeast Quest area.
- Decline tunnel, GPS#378; granite with quartz stock works - .511 ounces per ton gold; east of Crosby Mountain.
- Surface sample, GPS#292; granitic, heavy iron oxides, "Red Ore" - .434 ounces per ton gold; east of Hayes Mine.
- Surface sample, GPS#294; granitic "Red Ore" heavy geothite - .717 ounces per ton gold; east of Hayes Mine.
- Surface sample, GPS#179; quartz in metagranite, "Red Ore" - .859 ounces per ton gold; north of Swiss Belle Mine.
USCorp is encouraged that high assay values for gold were found on the surface and at relatively shallow depths of less than 250 feet. Samples of rock with high gold values have been taken on the surface and near surface areas. These assays support USCorp’s belief that the Twin Peaks claims area has significant mineralization near and on the surface. Other mines, located in the Carlin Trend District in Nevada, are noteworthy for making the United States a major gold producer in the world. Some mines did not find gold until excavations reached a depth of 750 to 1,000 feet.
The new drilling program will follow up on the more significant finds that were discovered by the Phase 3 drilling project. Newer discovery methods and imaging techniques are now being used. Identified target sites will be sampled by drilling down 750 to 1,000 feet. New ASTER satellite photos have been obtained that will enable identification of geomagnetic and mineral alteration areas. A geophysical crew will then conduct magnetometer (geomagnetic highs and lows are measured to determine the specific gravity [i.e., the density] of sub-surface geology), VLF (very low frequency), and Induced Polarity surveys in the ASTER targeted areas that will be guides to specific drill targets. USCorp estimates that the new geological and geophysical surveys, including geo-mapping will be completed by the end of this year, and that the follow-up drilling program to depths of 800 to 1,000 feet will commence, once funding has been obtained; once started it can be completed within three to four months. Ultimately a 3-D model of the geological substructures will guide drilling operations to target known structures or bodies in order to precisely locate and measure the extent of bodies of mineralization.