PALM
DESERT, January 28th, 2010 -- USA Uranium
Corp. (PINK SHEETS:USAU)
(http://usauranium.com)
Ken
Berscht,
Chairman and CEO
of USA Uranium is pleased to announce
John
Perez as new President of USA
Uranium.
Mr. Perez the former Director of Communications
has now assumed the role of President of USA
Uranium.
"Mr. Perez brings his experience in helping
bring USA Uranium to the next level of
developing an emerging exploration mining
company which has focused on ‘Going where
Gold is’ and was responsible for bringing
Ken Berscht to the team as
CEO
of USA Uranium.
Mr.
Perez
will be responsible for all aspects of the
Company's growth and development with the
focus on advancing historic producers and
the newly acquired Occidental/Pasadena Mine
in Imperial County
just
29 miles
from the largest open pit goldmine in
California, "The
Mesquite Mine" operated by New Gold Inc.
Mr.
Perez
working with Dr.
Earl
Abbott PhD.
will also be responsible for advancing
historic producer La Dama De Oro near Victorville
Ca
where environmental permitting has begun on
the property. Both properties are being
prepared to clear the way for new geological
updates to prepare NI 43-101 compliant
technical reports and reviewing work
programs to bring these historic producers
closer to production.
Mr.
Perez
is a precious metals trading specialist in
the gold and silver bullion and equities
market. Mr. Perez
is a former account executive and precious
metals trader at Monex Gold and Silver Inc.,
managing a multimillion dollar gold and
silver portfolio trading in the spot
markets.
Mr.
Perez manages and consults with
private equity clients in the precious
metals and oil sector raising private
capital and for gold and silver exploration
and mining companies. Mr. Perez
is a consultant to Comstock Royalty LLC., a
royalty and mining finance firm and is also
Director of Communications for Beeston
Enterprises ltd.
Highlights of the Occidental/Pasadena Mine
The
Occidental /Pasadena Mining Project is
located in Southeastern California, 29 miles from the Mesquite
Mine owned and operated by New Gold Inc.,
which became fully operational in 2008 as
the largest cyanide heap leach operation in California.
Prior to
New Gold Inc, Newmont Mining operated and
extracted 3 million ounces of gold from the
mid-1980's through 2002. It is an
operational, fully permitted low-grade open
pit mine with cyanide heap-leach processing
on site, and a life of mine estimated at 10
years. They currently produce roughly 160,000 ounces of
Gold annually.
Historical Data from Previous Owners and
Operators.
·
The
Occidental/Pasadena mine consists of 9
Patented Claims plus 3 unpatented claims.
This means as much as
180 acres patented
with another 60 unpatented.
·
Cargo
Muchacho mining district- Total production
values near $7 million range (and that is
when gold was between $21 and $34 per
ounce). Today that would be $350,000,000.00
in past gold production
·
Expert
reports from the 1920's and 1940's give
encouraging indications, and mention that
the ore is free-milling (making it easier
and more cost effective to process).
·
At least
3 of the 9 claims have previous workings on
them- shallow shafts and tunnels (150-250
deep), with several thousand feet of
underground workings with much of these
working are in ore.
·
Past
geology of this claim group is very similar
to that of the other claims in vicinity,
some substantial producers. The various
claims contain multiple vein structures,
generally narrow (2-10
feet in width) and
well defined, averaging .25 to.5 opt gold.
·
Between
the
Pasadena
claim and the Tip Top claim, it is estimated
that there is roughly 100,000 tons in sight,
with a roughly estimated average grade of
about 1/3 ounce per ton gold. The Occidental
claim itself has a fair amount more, though
exact numbers are not clear, but it is
thought that at least half of that 100K tons
is over an average of .4 opt.
·
Easy
access and
21 miles
from the
Arizona
border,
4 miles
of a main Union Pacific Railroad line,
shallow workings (250-300 feet max), bigger
past-producer mines in the area followed the
vein down over 1000 feet.
·
In
1925, Mr. A D Koppea
examined several of the claims. He concludes
his report with the following statement:
"This is one of the best prospects I've
examined- a first class free milling
proposition. The material is there and the
neighbors all around have produced many
millions." He also stated:"Very pronounced
signs of good silver values are visible and
this ore should be tested for silver."
·
A 1940
report by
Mr. Morgan Lesher
(Mining Engineer), 2 years before shut down
by the War Production Board Order L-208, was
positive as well regarding 2 claims, the Tip
Top and the Pasadena (the 1925 report
included details on the Tip Top and
Occidental). Mr. Lesher says the following:
"I can without reservation recommend this
property for immediate development, and I
consider its main asset, at present, to be
the known fact that all of the mining work
will be in ore, and that there is now
available for extraction a considerable
quantity of ore such as has been shipped
during the present period of operation."
·
Bulk
assays from these reports on bulk
sample/production from these claims- these
assays showed an average grade of .4 opt
gold and 1.41 opt silver, with good recovery
through several methods of extraction.
·
Regarding
the work, Lesher states: " A production of
about 1000 tons of ore averaging $15.00 gold
per ton {at that time, gold was $34 per
ounce}, was made by the present operator
over a period of ten months, working an
average of less than three men daily, all
the work being done by hand." He includes
settlement sheets from this work, as well as
assays.
·
Mining
friendly jurisdiction-
Imperial
County works with many
mining operations- primarily sand and
gravel, but precious metals as well. They
are open to cyanide processing on site, and
seem reasonable to work with.
Karl
Harz
now serving as Vice-President of Business
Development at USA Uranium said, "Our latest
acquisition of the Occidental /Pasadena Mine
Project fits our ‘Gold is Where You Find It’
model. Gold has continued to move up in the
market and our resource acquisition team
continues to seek more strategically located
historic producers with long term value. The
Occidental/Pasadena meets the criteria we
needed in order to get to our goals of
"Going Where Gold Is". With the La Dama D
Oro and now the Occidental /Pasadena
we have created an excellent base of
projects to move forward in 2010”.
John
Perez,
President of USA Uranium
said: "The Occidental/Pasadena mine lies in
an area with a rich well documented history
of the production of gold. The
Occidental/Pasadena Mining project is
strategically located near the
Arizona
border and is within reach of other active
mining projects with operating mines
potential partners for USA Uranium. I am
looking for forward to working with our team
to develop work programs and updated
geologic reports in order to progress
forward with the prospect of taking the
Occidental/Pasadena to the next level. The
gold markets continue to be strong with
quantitative easing creating a weaker dollar
as well as
China
now the number one producer and consumer of
gold. US Gold Corp. CEO Rob McEwen is on record saying that gold will
climb to $2,000 an ounce by the end of this
year, and recently predicted the price will
climb to an amazing $5,000 an ounce by 2012.
I am working with the Goldman-Sachs target
price of $1350.00 per oz and
JP Morgan has given price target of $1450.00
per oz. for gold.
US
investors still have not picked up entirely
where precious metals are heading. The
Occidental /Pasadena
fits our plan of "Going Where Gold Is" and
we anticipate continued strength in precious
metals."
Contact:
John
Perez,
USA
Uranium Corp
President
949-280-4323
office
888-845-4869
fax
USAUPM@gmail.com