Southern USA Resources, Inc. Provides Details on its Alabama Prospect
ASHLAND, Ala.--(BUSINESS WIRE)-- Southern USA Resources, Inc. (the "Company") (OTC BB: SUSA), a natural resource exploration and development company, today provides an overview of its properties located in the Alabama Gold Belt.
The Company's flagship property, SUSAR No. 1, is a 230 acre prospect located in Clay County, Alabama. The property is approximately 3½ miles north of the City of Ashland, commonly referred to as the Idaho Gold District. The Company owns 100% of the land and the mineral rights to this property.
In addition to the flagship property, the Company also acquired the mineral rights to an additional 230 acres southwest of the current flagship property with crossing privilege over to this addition which the Company leased the mineral rights for and 770 acres located approximately 5½ miles northeast of the SUSAR No. 1, known locally as the Short Property.
Based on the Geological Survey of Alabama, gold mineralization in Clay County lies in the Northern Piedmont and Brevard Fault zone. Gold mined in the area comes from a series of quartz-gold veins. The Company has recently discovered an old mine shaft, most likely abandoned in the 1800's, and based on new essay results evaluated by the Company, gold is very much evident in the area.
Evidence on SUSAR No. 1 shows that the Company is dealing with a structured vein system that appears to carry gold values from mica/graphitic schist's that lie on either side of the quartz structures dipping 60 degrees to the south southeast. Generally, where there is no quartz, there is no gold, however gold is not located in most quartz but rather follows the quartz and lies to the zone parallel to the quartz. So far preliminary indications are that the belt of gold bearing ore is approximately the length of the property and beyond and is approximately 6 ft. to 180 ft. wide/down, based on historical reports of elderly miners who have verbally confirmed this. This suggests that SUSAR No. 1 may potentially contain several hundred thousand ounces of gold when mined to depth.
"We are excited about the potential gold recovery on our flagship property and very encouraged to have visual confirmation coincide with historical reports from old-time miners. With current gold prices reaching historic all-time highs of nearly $1700 per ounce, we are looking forward to mining in the Alabama Gold Belt for many years to come," commented Charles H. Merchant, Sr., CEO of Southern U.S.A. Resources, Inc.
About Southern USA Resources, Inc.
Headquartered in Ashland, AL, Southern USA Resources, Inc. operates a gold mining operation and exploration group in the "Idaho District" of Northern Clay County Alabama. The Idaho District has numerous sites which have been producing mines and placer sites dating to the late 1800's. Using modern mining techniques, the Company is revisiting prior producing sites where it plans to excavate to a minimum depth of 80 feet, projecting the life of this project to be in excess of 20+ years.
For more information, visit: http://www.susaresources.com.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts, including, without limitation, statements that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development, may be deemed to be forward-looking statements. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. These statements are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. Except as may be required under applicable law, we assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release. Additional information on risks and other factors that may affect the business and financial results of Southern USA Resources, Inc. can be found in the filings of Southern USA Resources, Inc. with the U.S. Securities and Exchange Commission.
Southern USA Resources, Inc.
KEYWORDS: United States North America Alabama
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