Southern USA Resources Provides Details on its Alabama Prospect
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.
