USCorp, Jr. Gold Company, Reviews 2004 Accomplishments
Thursday January 6, 4:05 pm ET
LAS VEGAS--(BUSINESS WIRE)--Jan. 6, 2005--One of USCorp's (OTCBB: USCS - News) major accomplishments during calendar year 2004 includes the acquisition of three additional properties in Southern California. According to USCorp Chairman and CEO Robert Dultz, the acquisition more than doubles the amount of property in the company's mining portfolio. "USCorp is now the owner of four properties: the three properties in the Chocolate Mountain region of the Mesquite Mining District of Imperial County, Calif. and the original 'Twin Peaks' property in Arizona," Dultz said. "USCorp's claims portfolio now exceeds 6,000 acres." This amount of land is approximately the size of 30 large 18-hole golf courses.
USCorp owns 80% of three new properties in California following its Joint-Venture Acquisition business model. "We estimate the initial costs to bring these three new properties into profitable production are very reasonable, below industry averages," Dultz reported.
Management believes time to reach mineral production can be relatively quick because of the nature of the ore body, which is primarily micro-fine and coarse gold in sand. Compared to traditional hard rock mining methods, the methods for extracting gold under these conditions have a relatively low initial startup cost. Gold is produced at a lower cost per ounce and a faster startup time results.
USCorp, through its wholly owned subsidiary, USMetals, is 100% owner of the Twin Peaks property in Arizona.
"USCorp has signed an agreement with Glenn Martin to become a Special Representative and International Agent, on behalf of the company," Dultz said. "Martin has been consulting USCorp for the past year in the area of securing mining equipment. He has also been negotiating with acquisition candidates regarding the company's development plans nationally and internationally."
Dultz also announced Quantum GeoConsultants Group ("Quantum") has agreed to render consulting services for mineral exploration and development on USCorp mineral properties. Quantum's principals and associates include mining consultants, geologists, mining, mechanical, chemical, and geophysical engineers in addition to environmental geologists.
Quantum principals have more than 10 decades of combined domestic and international management and engineering experience in exploration, mining, metal recovery and mine equipment design and manufacturing.
"We are pleased to have the Quantum group as independent consultants to the company," Dultz said.
"We are proud of our 2004 achievements. We made significant additions to our mining team and more than doubled the land area of our mining claims. The direction of the company continues toward accomplishing all of our goals which include acquiring existing and/or producing mining properties and increasing the company's reserves."
USCorp's mission remains developing a strong and stable company, paying dividends from revenue-producing assets.
Statements contained in this release that are not historical facts are forward-looking statements that involve risks and uncertainties. Among the important factors which 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 Forms 10-KSB, Forms 10-QSB, 8-K and other filings with the U.S. Securities and Exchange Commission. The actual results that the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.
Thursday January 6, 4:05 pm ET
LAS VEGAS--(BUSINESS WIRE)--Jan. 6, 2005--One of USCorp's (OTCBB: USCS - News) major accomplishments during calendar year 2004 includes the acquisition of three additional properties in Southern California. According to USCorp Chairman and CEO Robert Dultz, the acquisition more than doubles the amount of property in the company's mining portfolio. "USCorp is now the owner of four properties: the three properties in the Chocolate Mountain region of the Mesquite Mining District of Imperial County, Calif. and the original 'Twin Peaks' property in Arizona," Dultz said. "USCorp's claims portfolio now exceeds 6,000 acres." This amount of land is approximately the size of 30 large 18-hole golf courses.
USCorp owns 80% of three new properties in California following its Joint-Venture Acquisition business model. "We estimate the initial costs to bring these three new properties into profitable production are very reasonable, below industry averages," Dultz reported.
Management believes time to reach mineral production can be relatively quick because of the nature of the ore body, which is primarily micro-fine and coarse gold in sand. Compared to traditional hard rock mining methods, the methods for extracting gold under these conditions have a relatively low initial startup cost. Gold is produced at a lower cost per ounce and a faster startup time results.
USCorp, through its wholly owned subsidiary, USMetals, is 100% owner of the Twin Peaks property in Arizona.
"USCorp has signed an agreement with Glenn Martin to become a Special Representative and International Agent, on behalf of the company," Dultz said. "Martin has been consulting USCorp for the past year in the area of securing mining equipment. He has also been negotiating with acquisition candidates regarding the company's development plans nationally and internationally."
Dultz also announced Quantum GeoConsultants Group ("Quantum") has agreed to render consulting services for mineral exploration and development on USCorp mineral properties. Quantum's principals and associates include mining consultants, geologists, mining, mechanical, chemical, and geophysical engineers in addition to environmental geologists.
Quantum principals have more than 10 decades of combined domestic and international management and engineering experience in exploration, mining, metal recovery and mine equipment design and manufacturing.
"We are pleased to have the Quantum group as independent consultants to the company," Dultz said.
"We are proud of our 2004 achievements. We made significant additions to our mining team and more than doubled the land area of our mining claims. The direction of the company continues toward accomplishing all of our goals which include acquiring existing and/or producing mining properties and increasing the company's reserves."
USCorp's mission remains developing a strong and stable company, paying dividends from revenue-producing assets.
Statements contained in this release that are not historical facts are forward-looking statements that involve risks and uncertainties. Among the important factors which 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 Forms 10-KSB, Forms 10-QSB, 8-K and other filings with the U.S. Securities and Exchange Commission. The actual results that the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.
