Commodity Online LAS VEGAS: USCorp (OTCBB:USCS) has confirmed the presence of gold, silver and uranium after drillinig at its Twin Peaks, Arizona, USA Property.
In May 2008 the company was issued a drilling permit for a total of 13,000 total feet. In Phases 1 and 2, which are the completed phases reported here, the company decided to drill 41 holes for a total of 5,000 feet to determine the results before commencing additional drilling at greater depths. As a result of this drilling program, the company plans to move forward with Phase 3 of the drilling program.
In the Phase 2 results, gold was found at ranges from .04 PPM (g/t) to 5.66 PPM (g/t) in six of the holes drilled. Silver is present at ranges of .7 PPM (g/t) to 82.5 PPM (g/t), all at various levels.
“We are pleased with these results and are confident that our belief in this property will be rewarded,” said Robert Dultz, Chairman and CEO of USCorp.
The report also noted that the area around drill holes 38 and 39 should be explored and drilled deeper as a result of radioactivity being present. The report indicates that the samples from these two holes were tested for radionuclides and indicate the presence of uranium on the property as well.
It has been previously determined that mineralization of the property is controlled by the numerous cross cutting fault structures and their associated quartz and rhyolite veins. This round of drilling has established that the quartz structure that hosted the Hayes mine, the “quartz dike,” does indeed continue beneath the alluviums far beyond the known exposure as has been suggested by the satellite photography. On the west end it has been intersected nearly a quarter mile beyond its previous limits. And to the east it has been found beneath the blanketing alluviums over 1000’ farther than previously mapped.
Drilling on the suspected west extension of this structure intersected quartz in two holes. Hole #6 intersected 5 feet of 22 PPM (22 g/t) gold, and hole #7 averaged 22.62 PPM (26.62 g/t) between 25 and 50 feet with the low of 13.16 PPM (13.62 g/t) and a high of 70.57 PPM (70.57 g/t).
Additionally, satellite imagery had suggested a number of structures running parallel to the quartz dike that had not been explored. Drilling has confirmed that these structures also host mineralized quartz veins beneath the alluviums.
One running parallel to the quartz dike 100 feet to the north was intersected by drill hole #31. Assays of the last 20 feet of hole #31 run from .93 PPM (.93 g/t) to 31.4 PPM (9/10th oz/ton). Another structure, half a mile to the north, by the Swiss Bell, plays host to a swarm of quartz veins in parallel echelon. Of note, although this does not appear connected, or at least is not evident on the maps, logging of the drill hole #38 cuttings showed a similar assemblage of quartz veins separated by diorite dikes.
All of these occurrences need to be investigated in more depth during the phase 3 program. If geologic continuity can be established, this will increase the length of the mineralized structure to nearly 2 miles, the company said.
The extension of these structures increases inferred resource numbers; however, infill drilling needs to be done to greater depth to establish indicated or measured resource. North south trending structures on the property are also host to gold enrichment. Drilling was conducted on an east trending flank ridge of Hayes peak in an east west lattice.
Hole #17 returned gold assays of 6.03 PPM (6.03 g/t) at 60-65 feet, 6.55 PPM (6.55 g/t) at 65-70 feet, and 2.07 PPM (2.07 g/t) at 70-75 feet.
A lattice of east/west angled holes was drilled south and west of the Hayes claim in the area identified as the volcanic breccia.
Hole #19 returned assays of .10 PPM (.1 g/t) at 75-80 feet and 3.38 PPM (3.38 g/t) at 90-95 feet.
Hole #24 encountered 52.3 PPM (52 g/t) Ag (silver) at 95-99 feet. And hole #25 intersected structures at 10 to 15 feet and 80 to 85 feet yielding assays of .20 PPM (.20 g/t) gold, 5.6 PPM (5.6 g/t) silver, and .7 PPM (.7 g/t) gold and 82.5 PPM (82.5 g/t) silver, respectively
