LAS VEGAS--(BUSINESS WIRE)--USCorp (OTCBB: USCS) is pleased to report an updated NI 43-101 compliant mineral resource estimate for the Picacho Salton Property, a desert placer deposit along the eastern edge of the Imperial Valley in the westward Bajada of the Chocolate Mountains and located in Southeastern California.
Highlights of the updated technical report include a Measured and Indicated Resource on the Picacho Salton Property of 527,750 ounces of gold and an Inferred Mineral Resource of 508,006 ounces of gold.
The updated Mineral Resource estimate for the Picacho Salton property is presented in Table 1 for the overall deposit. The Resources shown in Table 1 used a cutoff grade of 0.015 ounces/ton. The mineral resource estimate has been prepared in accordance with National Instrument NI 43-101 standards.
| Table 1 Mineral Resource Estimates
|
| |
| Resource Class
| | Short Tons
| | Gold Opt
| | Gold Oz.
|
| Measured Mineral Resource
| | 6,614,666
| | 0.035
| | 231,513
|
| Indicated Mineral Resource
| | 8,466,777
| | 0.035
| | 296,337
|
| Measured & Indicated Resource
| | 15,081,443
| | 0.035
| | 527,850
|
| Inferred Mineral Resource
| | 33,867,093
| | 0.015
| | 508,006
|
106 claims on 4,600 acres make up the Picacho Salton Property in southeastern Imperial County, California, near the Arizona and Mexican borders. The nearest producing mine, the Mesquite mine owned by Western Goldfields, is located approximately 6 miles to the south.
The Picacho Salton property deposit trends roughly from southeast to northwest. The property is believed to be underlain by the Picacho thrust fault, a deep seated low angle fault that extends from the Colorado River westward beneath the Picacho Salton project to the Mesquite mine; this has to be substantiated through additional geologic work.
Details about prior work including testing performed on the claims can be found in the NI 43-101 report.
Robert Cameron, Ph.D., Geo, of Geological Support Services is the Qualified Person as defined under NI 43-101 responsible for the scientific and technical work on the program. Dr. Cameron verified drillhole and trenching locations, survey data, assay data and database integrity. The resource estimation and classification parameters and procedures are outlined in detail in the report found at:
www.uscorpnv.com/Piacacho-Salton_Tec...
Forward-Looking Statements
Statements contained in this release that are not historical facts are forward-looking statements that involve risks and uncertainties. Among the important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, those discussed in “Risk Factors” in the company’s filings with the U.S. Securities & Exchange Commission. The actual results that the company achieves may differ materially from any material forward-looking statements due to such risks and uncertainties. The company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
