Dec PR
Found this on the occidental mine.
The Pasadena/Occidental Consolidated mine is a conglomerate of nine patented mining claims and three unpatented mining claims on appx. 185 acres in the Cargo Muchacho Mining District of Imperial County, California. The district in which these claims are located has been indentified as a highly mineralized area in the Cargo Muchacho Mountain range in south east Imperial County and well known for its production of gold. In the early 1900’s throughout this area, numerous mining operations were actively conducting both underground and surface mining projects that produced tremendous amount of gold. Adjacent to the property is one of the most well known of those gold mines, the American Girl which was mined up until the 1930’s and then again from 1989 to 1995. During that time, the American Girl produced in excess of 300,000 ounces of gold with identified reserves still unrecovered.
USA Uranium Acquires Pasadena/Occidental Mine and Consummates Comstock Royalty LLC Financing
LAS VEGAS, December 14th, 2009 -- USA Uranium Corp. (PINK SHEETS:USAU) President Karl Harz is pleased to announce that, "We have now completed the acquisition of our second former producing mine located in Southern California, the Pasadena/Occidental Mine. Utilizing our policy of ‘gold is where you find it’, management had identified several strategic targets for the Company early in the year.”
Mr. Harz further stated, “With the completion of this acquisition USA Uranium has successfully achieved the second of the primary properties the Company had targeted. The fact that this property has been continuously owned by the Vendors since the 1930’s and that for the first time since then, they have reposed their trust in USA Uranium to explore and develop this former prolific producer, is a testament to the vision and professionalism of our acquisition team. We are very confident that additional examination will verify our opinion that this Property will significantly expand shareholder value.”
The Pasadena/Occidental Consolidated mine is a conglomerate of nine patented mining claims and three unpatented mining claims on approximately 185 acres in the Cargo Muchacho Mining District of Imperial County, California. The district in which the Pasadena/Occidental mine is located has been identified as a highly mineralized area in the Cargo Muchacho Mountain range in south east Imperial County and is well known for its production of gold. This mine has not been mined for its gold reserves since the 1930’s even though core sampling test have shown high grade levels of ore. The gold bearing veins of this district have considerable depth and have been identified in the Pasadena and Occidental mines from previous operations and core sampling.
Additionally, CEO Ken Berscht is pleased to announce that the Company has completed a Capital & Development Agreement with Comstock Royalty LLC, a private Nevada company. USAU will now receive the first tranche of financing consisting of $200,000 for general working capital purposes
