Breaking News Coverage for US Precious Metals, Inc. (USPR) - September 24, 2013

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Company Snapshot
U.S. Precious Metals, Inc.

176 Route 9 North #306
Marlboro, NJ 07728

www.usprgold.com

Officers:
Gennaro Pane, CEO
Dave Burney, President
Tel: (732)851-7707
Email: contact@usprgold.com

Sector: Mining/Technology
Ticker Symbol: USPR
Exchange: OTCQB
Shares Outstanding: 123,681,244
Float: APX 43,500,000 +/-

52 Week Low: $0.09
52 Week High: $0.2899

 



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US Precious Metals Inc. Announces Phase II Development to Begin Immediately On Its Michoacán, Mexico Property
 

Mr Pane states, “This is an extremely exciting time for our company and shareholders, we are looking forward to quickly completing phase II and moving speedily into Phase III which of course is the mining of the property”.
 

MARLBORO, N.J., September 24, 2013 /PRNewswire/ -- US Precious Metals, Inc. ("Company") (OTCQB: USPR) in conjunction with our its Joint Venture partners Mesa Acquisition Group LLC/Alba Petroleos De El Salvador Sem De Cv, is pleased to announce the immediate commencement of Phase II development on its Michoacán, Mexico property.

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George Mesa, President/CEO of Mesa Acquisition Group stated “Not only did the satellite imaging confirm previous areas indicated in the previous drilling programs, it also uncovered new areas of high intensity gold reserves.” He continued; “As you know, I have been studying the property, core samples, drilling programs with Mr. Serrat, USPR News AlertsMr.Figueredo, and my partners for more than a year now. This confirmation was more than enough for us to move forward. We will begin Phase 2 immediately and based on the unexpected results, we are also in internal discussions with our partners with a view to putting together a package to exceed the previous amounts contemplated for Phase III”

Phase II will include applying the Forming Short-Pulsed Electromagnetic Fields (FSPEF) and Vertical Electric-Resonance Sounding (VERS) on a majority of the 2,134 acres. The FSPEF technology will be even more detailed than the high spectrum UV laser satellite imagery, honing in on the proven deposits and the VERS technology will identify volume and depth of mineralization in all areas of interest. Together when completed, these technologies will provide a proven reserve estimate in grams of Gold per ton of ore body.

In addition, The Mesa Acquisition Group is currently speaking with the relevant government bodies regarding road permits, hauling routes, water, and electric as well as all environmental requirements to facilitate Phase II development. They also have begun identifying the necessary equipment and earthmovers that will be brought to the site.

The satellite imaging covered 2,134 acres of the Company’s 37,000 acres or 5.7% of its property. The purpose of the imaging was to confirm existing geology developed by Mr. David Burney, USPR’s geologist through 2 drilling programs and on-site mapping and sampling, and to identify further areas of potential interest. Both of these goals were achieved with this imaging program. The satellite imaging identified 27 gold anomalies of which numerous showed high intensity levels. A total of 217 surface acres were identified by the 27 anomalies.

Mr Jerry Pane Chairman and CEO stated:” "After many years of hard work, I am thrilled that our results to date have greatly exceeded expectations and we are now in the position to begin Phase II of our development program with the Mesa Acquisition Group.” Mr Pane continued, “This is an extremely exciting time for our company and shareholders, we are looking forward to quickly completing phase II and moving speedily into Phase III which of course is the mining of the property”.


About USPR:
US Precious Metals, Inc. is an exploration stage company engaged in the acquisition, exploration and development of mineral properties. We focus on gold, silver and copper primarily located in the State of Michoacán, Mexico where we own exploration and exploitation concessions to approximately 37,000 contiguous acres of mineral rights.

Forward Looking Statement Disclaimer: This Press Release may contain, among other things, certain forward-looking statements, including, without limitation, (i) statements with respect to the Company's plans, objectives, expectations and intentions; and (ii) other statements identified by words such as "may", "could", "would", "should", "believes", "expects", "anticipates", "estimates", "intends", "plans" or similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties. The content of this press release is based on information available to the Company at the present date from its contract provider on the imaging results. The Company reminds investors that actual mining results or further geological work may differ from those set forth in the forward-looking statements or as otherwise stated in this press release. These forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control).

SOURCE: US Precious Metals, Inc.

 

About US Precious Metals, Inc. (USPR)


U.S. Precious Metals, Inc. explores and develops precious and base metal properties in the U.S. and Mexico. The company was foundedUSPR News Alerts in 1998 and owns exclusive exploration and exploitation rights to approximately 37,000 acres of land in Michoacán, Mexico.

Over the last number of months, U.S Precious Metals, Inc. has expanded on its exploration focus by acquiring Resource Technology Corp. USPR has embraced the newest technological advancements in ore refining by embracing Thermal processing which is set to revolutionize the way and ore is
processed in the future.

USPR has also started extensive work via Satellite Imaging on its Mexican concessions. This will supplement the existing, more traditional data that has been accumulated over the years.

U.S. Precious Metals was founded in 1998 and owns exclusive exploration and exploitation rights to approximately 37,000 acres of land in Michoacán, Mexico. The Solidaridad properties consist of eight concessions granted by the Mexican government for a period of 50 years.

The 17,000 hectare Solidaridad mining leases are held by U.S. Precious Metals of Mexico, a wholly owned subsidiary of U.S. Precious Metals, Inc. The Solidaridad properties include eight (8) concessions and have been granted to the subsidiary for 50 years. Titles to the concessions are maintained subject to an annual tax required by the Mexican government and paid twice a year.

USPR de Mexico acquired the property leases in 2003 after the initial exploration efforts by MIM, Esperanza Del Oro and Hot Springs Exploration in 1997-98. The previous exploration campaigns completed 21 drill holes totaling 3166 meters of R.C. drilling. An additional concession surrounding the Solidaridad concessions was obtained in 2006 by USPR of Mexico.

In 2008, USPR of Mexico began a 4000 meter drilling campaign to confirm, further explore and investigate the mineral resource potential. All drill cores were logged, cut and sampled. The core samples were shipped to a lab in the United States for assay. All data to include drill logs and assays have been digitized and plotted on maps. The mineral resource estimation provided by USPR of Mexico is based solely on the results of USPR drilling results.

Based on the results from the previous drilling campaign completed by USPR of Mexico, field mapping and sampling and petrographic results from polished section studies, a 10,000 meter drilling campaign is planned for 2010.

SUMMARY:

  • On March 13, 2003, USPR acquired Solidaridad I (175 hectares).
  • On March 27, 2003, USPR acquired the Solidaridad II (2,162 hectares) exploration concession from the Mexican government.
  • On July 22, 2003, exploration concessions for Solidaridad III, (294 hectares) and Solidaridad IV (149 hectares) were acquired.
  • On May 25, 2004, the company received the exploration concession from the Mexican government for Solidaridad V (La Ceiba, 921 hectares).
  • In February 2006, USPR claimed a gold mine concession lot named "La Sabila" (11,405 hectares) that surrounds the other concessions, bringing the total area under USPR"s control to 15,400 hectares (one hectare equals 2.47 acres).
  • In 2007, road improvements were made and a warehouse in Morelia was for drill core storage and analysis. Funding was acquired for a more thorough definition drilling campaign.
  • Drilling began in early 2008.
  • All legal obligations for the concession have been met and all fees and taxes are current.
  • A Chief geologist and metallurgist have been hired to continue the exploration and begin ore characterization. In addition, a contract geologist living in Morelia is working on the project full time.
  • Chemical analysis and metallurgy is being conducted by Mike Floersch of Applied Minerals, Inc.
  • In September 2008, an Environmental Impact Statement was approved so that a pilot plant for ore processing and deep core drilling can begin.
  • In October 2009, a metals extraction test was performed on ore samples collected from a vein exposed on the surface.
  • Fourteen additional holes were drilled in the 2010 drilling campaign.
  • A 2011 National Instruments 43-101 report was prepared independently by Michael Floersch (Applied Minerals, Inc.) and Betty Gibbs (Gibbs Associates) to describe results of exploratory drilling campaigns (2008 and 2010) and lay the groundwork for continued drilling and resource definition of the La Sabila property in southeastern Michoacán, Mexico.

     



Recent US Precious Metals, Inc. (USPR) News Releases


US Precious Metals Inc. Announces the Successful Completion of Phase 1 Satellite Imaging on 2,134 Acres of its Mexican Property

 

Former Deputy Assistant Attorney General in the Office of Legislative Affairs of the U.S. Department of Justice (DOJ) joins USPR Board of Directors

 

US Precious Metals, Inc. Announces Former Ambassador Hans H. Hertell Has Joined its Board of Directors

 

US Precious Metals, Inc. (USPR) Enters into Agreement with Mesa Acquisitions/Alba Petroleos to Explore and Develop USPR's Mexican Property

 

US Precious Metals, Inc. Enters into Contract to Acquire Resource Technology Corp

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