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Crude oil continues its downtrend and hits seven month low at $94. In two months the commodity has lost already 34%. Hurricane Ike didn't cause big damages on oil infrastructure. The price has been sent lower also due to financial turmoils. You can see Adam's analysis for crude oil.
Contrary financial turmoils have helped gold to gain in last days. As concerns over financial system spread over the gold is usually seen as a hedging tool. Find out what is the outlook for gold price.
Related tickers: (OIL), (GLD), (USO)
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Here are details about a gold-mining company whose stock price increased, this week.
USCorp Reports Preliminary Drilling Results on its Arizona Twin Peaks Gold Property
September 15, 2008 10:30 AM Eastern Daylight Time
LAS VEGAS--(BUSINESS WIRE)--USCorp (OTCBB: USCS) is pleased to announce preliminary results of its reverse circulation drilling operations conducted by Harris Drilling of Escondido, California at USCorp’s Twin Peaks Project in Yavapai County, Arizona.
Geological Support Services has been supervising the drilling program of precious metal values outlined by a recent geochem sampling program at the Twin Peaks project. The geochem sampling program is part of an ongoing test program of the NITON pXRF in conjunction with certain State and Federal agencies. Results from the NITON pXRF are being crosschecked by independent certified assay labs.
Dr. Cameron has reported that field testing of the results of the reverse circulation drilling using the NITON pXRF at the Twin Peaks project site indicates: “Hole number 6 has intersected 5 feet of 22.9 grams [0.81 ounces] per ton of gold at 45 feet of depth. Hole number 7 encountered 70 grams [2.47 ounces] of gold per ton at 25 feet of depth and had 5 samples totaling 25 feet of 13 grams [0.46 ounces] of gold per ton and above”. A representative of the Bureau of Land Management’s Kingman, Arizona field office was present during the drilling of holes 6 and 7 and during the onsite field testing.
Samples taken from the reverse circulation drilling will be crosschecked by certified labs ALS Chemex and SGS for confirmation of the above preliminary field test results. USCorp will be reporting additional preliminary results as drilling continues and will report detailed results as soon as the certified lab tests are received by the Company.
For further information contact Beverly Jedynak, 312-943-1100 ext. 112; bjedynak@janispr.com or visit USCorp’s web site http://www.uscorpnv.com.
About USCorp
USCorp is a public company that trades on the Over The Counter Bulletin Board under the symbol USCS. USCorp has two mineral exploration projects in the United States: The gold and silver Twin Peaks project located in Yavapai County, Arizona, and the gold Picacho Salton project located in Imperial County, California. USCorp’s NI 43-101 compliant Technical Reports and Feasibility Studies are available on their web site at www.uscorpnv.com.
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 and 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.
Contacts
Martin E. Janis & Company, Inc.
Beverly Jedynak, 312-943-1100 ext. 112
bjedynak@janispr.com
Phil Collins