Company Overview
Press Release: Southern USA Resources, Inc. – Mon, Jan 14, 2013 8:30 AM EST
ASHLAND, Ala.--(BUSINESS WIRE)--
Southern USA Resources, Inc. (the “Company”) (SUSA), a natural resource exploration and development company, provides a company overview to the investment community.
As a natural resource exploration and development company, Southern U.S.A. Resources’ initial focus will be on the commercial development of its historic gold properties in the “Alabama Gold Belt.” The Company has acquired and/or leased mineral rights to over 1,200 acres of properties in Clay County for exploration and will utilize a combination of historic data mining and physical exploration to mine the properties. Trenching is the primary method of exploration seeking a quick find of results that are reviewed by company officials to determine if the area of exploration deserves a closer examination.
Historically, Alabama has been known for its own “gold fever”. Gold was first discovered in Alabama in 1832 in Cleburne County in the Arbacoochee Mine. By 1836 there was a great deal of excitement in the gold fields of Alabama until the 1849 California Gold Rush sent many miners west. Gold prospecting in Alabama revived in 1853 when Cornish miners migrated from Tennessee to search for copper. There were additional resurgences of gold mining after the civil war, in the 1880’s, when cyaniding, a method of retrieving gold, was introduced in Alabama in 1903, and in the 1930's, with the rise in the price of gold, which lasted until 1942. Southern USA Resources, Inc. has no plans to use such methodology.
Gold was extracted both from underground mines and through a technique known as placer mining, a type of surface, open pit mining usually done in rivers, creeks, and streams. The total gold production recorded was estimated to be around 50,000 ounces, worth more than $82 million at current prices at approximately $1650 per ounce.
The Company will focus on the research and investigation of historic mining documents to identify old mines and prospects, reducing exploration expense and time. The Company believes its properties have the potential of becoming commercially-viable with the implementation of modern mining techniques.
“Most folks dismiss the fact that the east coast has the potential of producing large gold deposits. The tops of these deposits in the Alabama Gold Belt are relatively shallow and we believe we have the put together the right people with the expertise and knowledge required to successfully produce more than what has been historically recorded in the area. We are excited to share this journey with our shareholders and the financial community and we intend to provide updates of our progress as we go into full-scale mining operations this year,” commented Charles H. Merchant, Sr., CEO of Southern U.S.A. Resources, Inc.
