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US Precious Metals (USPR)

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Last Post: 4/18/2014 7:17:48 PM - Followers: 67 - Board type: Free - Posts Today: 0

                                              


Overview

U.S. Precious Metals, Inc. explores and develops precious and base metal properties in the U.S. and Mexico. The company was founded 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.
 

Company Background

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.
 

Management Team

Jerry Pane
Chief Executive Officer, Chairman of the Board

Mr. Jerry Pane was formerly a licensed equity and commodity trader and partner in Madison Trading, LLC, New York. He is President and largest shareholder in Worldwide Mining Partners, a privately held company in a joint venture with proprietary mining technology.

Daniel Joonsikk Moon
President, Director

Mr. Daniel Joonsikk Moon is a graduate of Han Yang University, Seoul Korea with a degree in architectural engineering and also a graduate from South Dakota State University with a degree in Civil Engineering. From 1993 to present, Mr. Moon is President and Chief Executive Officer of LUCKY TCL, with offices in Beijing, Hong Kong and Seoul. The core business of LUCKY TCL is designing and manufacturing smelters for the mining industry with a primary focus on gold, copper and iron ores. From 1996 to present, Mr. Moon also has been President and Chief Executive Officer of FLAMBUE Ltd., a commodity trading business located in Hong Kong.

Ruben Figueredo
Chief Operating Officer

Mr. Figueredo (age 59) is a certified engineer with dual degrees in telecommunications and electronics and has over thirty years of hands-on project development and management experience. Since 1992, Mr. Figueredo has been President and Chairman of the Board for CompuVid, Inc, of Miami, Florida, where he has been responsible for the design, development, and installation of a multitude of industrial projects specializing in mining and aggregate processes.

Juan A. Serrat
Chief Technology Officer

Mr. Juan A. Serrat (age 44) has over 20 years in the construction field designing and supervising the construction of numerous mining and milling projects worldwide. From 2000 to 2009, he was the project manager of Titan America, one of the world's largest cement and aggregate companies. During his tenure at Titan, he was responsible for supervising the construction of nine projects valued over $582 million. Mr. Serrat has been President of ECI Unlimited Services, Inc., of Miami, Florida. ECI Unlimited is a family owned business and is involved in purchasing and refining precious metals. Mr. Serrat is fluent in Russian, Spanish and English.

 


http://www.usprgold.com






 


News and Information:

         

 

http://finance.yahoo.com/q/h?s=USPR.OB   http://pinksheets.com/pink/quote/quote.jsp?symbol=uspr


 
THE SOLIDARIDAD PROJECT
Solidaridad or 'La Sabila', as referred to by the staff at USPR, is a significant gold, silver and copper resource located in the state of Michoacán, Mexico about a 4 hour drive south of the city of Morelia. In 2007 roads were improved and a metallurgical lab and warehouse to store and analyze drill cores was established in Morelia. A drilling campaign commenced in early 2008 to establish the parameters of the surface mineralization. USPR is currently updating its maps to accurately reflect its current concession holdings. 
Early Drill Hole Map (pdf) | Latest Drill Hole Map, 2008 (jpg) | Metallurgy Test - 2009
La Sabila work site
HISTORY
The deposit was discovered in August of 1995 by Esperanza del Oro. A joint venture to explore the property was offered to Mount Isa Mines (MIM) by Esperanza del Oro after the initial discovery. MIM drilled 11 holes and Hot Springs Gold Corporation drilled an additional 10 holes. Initial drilling of the property was completed in December of 1997-98 (early drill hole map). From the data collected by MIM, there is a potential gold resource of 308,000 ounces. In addition there is significant recoverable silver and copper. At 2007 metal prices the value of all metals was estimated to be $319 million (see Table 1). At current metal prices (2008), the value of the resource is estimated to be well over $500 million.




MINERALIZATION
Three mineralized zones clustered near the ranch of La Sabila owned by Don Victorio Cardenas were identified by the early drilling: the North Zone, the Main Discovery Zone and Cuendeo, (2 km south of the Main Zone). Twelve holes are considered 'pay holes' with the drilling results and metal values shown in ounces per ton (opt) for gold and silver and percent for copper in Table 1. The Main Zone is 40 to 60 meters wide on the surface and approximately one km in length.
 
Each drill hole starts with surface examinations of rock outcrops. Shown here is a fracture mineralized with copper oxide containting both gold and silver.

USPR personnel, scientists and others looking at copper oxide mineralization at La Sabila.

Rock outcrop showing copper oxide.

Mike Floersch demonstrating the Niton XRF analyzer. The readings for this particular sample predicted 1 oz. of gold per ton of ore.
 
Project geologist Juan Alberto Contreras standing adjacent an outcrop of advanced argillic alteration.

Cuendeo.

Sulfide rock chip sample from surface exposure and mining, Cuendeo.

Cut surface sample of chalcopyrite and pyrite from Cuendeo, USPR property 2 kilometers to the south of the Main Zone.

DRILLING
Drilling of the La Sabila project began in February of 2008 by USPR. During 2008, Micro Tunnels, the drilling contractor hired by USPR, had two drills working six days per week and two shifts per day.

A new drill operating in the Main Zone.

Workers operating a drill.

Drill core laid into boxes.
 
Core boxes stacked up for transport to the Lab.

DRILL CORE SAMPLES

One of the first core samples showing native copper.

Drill core samples stacked and waiting for analysis.
 
Close-up of drill core sample assayed at 0.17 oz gold per ton of ore.

Well-mineralized drill core.

Mineralized core.

Mineralized core.
 
Logged as interbedded black shale and siltstone. Petrographic study to be completed.

Breccia clasts of sulfides.

METALLURGICAL LAB AND CORE LAB
A warehouse has been rented near Morelia for USPR office space and for a commercial metallurgical lab for assaying all samples, drill cores, and for storing core samples. It will also be available to other mining companies. Permits have been submitted for the laboratory facility in Morelia since the lab must be approved by the Mexican government. 

 
The metallurgical and chemistry lab, a 1200 square foot lab, is located within the warehouse facility in Morelia.

AA instrument in operation in the lab.

Drill core sawing area.

Manuel, driver and drill core saw operator, brings the drill cores in from the drilling areas and cuts them into short lengths.
 
Intercept of a quartz sulfide vein from drill hole number 5. Chalcopyrite and pyrite are shown in the photo.

Core from drill hole number 5; cut section of core enriched in chalcopyrite.
 
Sylvia, geology technician, logs drill cores, core cuts, and records assay results as they are sent back from Chris Cristopherson Labs in Idaho.

Antonio cleaning the core saw on Saturday morning as part of the maintenance program.


ROAD IMPROVEMENTS
In 2007, all existing roads were repaired and widened to accommodate drilling and to prepare for future mining activities. The rainy season that begins in June and runs thru September creates problems for the roads. Without ditches and culverts the runoff erodes and creates impassable road conditions.
 
The road before improvements adjacent a heading that has excellent gold, silver and copper values. The road was a foot path as shown.

Road after improvements.
 
Road before improvements taken near the top of the mountain in the "Main Zone" of mineralization. The road had deteriorated and vehicle access was impossible.

Road after improvements.


A summary of progress since the USPR acquisition of the property:
  • 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 Septermber 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.
COMPANY NEWS & PRESS RELEASES
Morelia, Michoacan, MX

             *****USPR Share Structure as of January 14th 2011:

 

                   A/S 100,000,000

                   O/S 68,393,146

                   Float approx. 30,000,000 

                As of Apr 15:
                   
                   A/S 150,000,000
                   
                   O/S 76,468,146
                   
                   Float approx. 32,500 ,000
    

                                       



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Wiki
USPR News: Current Report Filing (8-k) 04/17/2014 04:12:11 PM
USPR News: Small Company Offering and Sale of Securities Without Registration (d) 04/17/2014 09:54:50 AM
USPR News: US Precious Metals, Inc. (USPR) Restructures Resource Technology Corp. Contract 02/05/2014 02:11:13 PM
PostSubject
#7142  Sticky Note http://www.theaureport.com/pub/na/15958?utm_source=delivra&utm_medium=email&utm_ usprinvestor 04/14/14 07:11:28 PM
#6841  Sticky Note Here are good places to report SEC fraud. Lask 02/15/14 03:04:44 PM
#7265   BB, did you know uspr could buy gold Lask 04/18/14 07:17:48 PM
#7263   "To a clearer point..WHO CARES? A picture is russo123 04/18/14 06:24:00 PM
#7261   "". No, actually you did. " Black Beerd 04/18/14 02:01:18 PM
#7260   "No its not...it's a documented SEC filing that russo123 04/18/14 12:16:21 PM
#7259   "You inquired,,, I just obliged ...". No, actually russo123 04/18/14 12:11:35 PM
#7258   "uspr gets gold core samples?" Black Beerd 04/18/14 11:37:23 AM
#7257  Restored uspr gets gold core samples? http://www.ebay.com/itm/3-oz-1934-Ropes-Northern-Michigan-Gold-M Lask 04/18/14 11:25:39 AM
#7256   "Let's stop the insanity..... " Black Beerd 04/18/14 11:20:07 AM
#7255   "Wow. That's a lot of effort to put Black Beerd 04/18/14 10:31:12 AM
#7254   Wow. That's a lot of effort to put russo123 04/18/14 10:17:41 AM
#7253   "First of all, I'm not the issue here." Black Beerd 04/18/14 10:09:02 AM
#7252   yes Mr USPRI...as I stated some time ago...I notaclueyet 04/18/14 09:08:09 AM
#7250   Let's stop the insanity..... A 43-101 is not something usprinvestor 04/18/14 08:58:52 AM
#7249   Look, to be clear. I know nothing about russo123 04/17/14 08:35:35 PM
#7248   I've been unable to find any Mexico land Lask 04/17/14 07:37:27 PM
#7247   No. I'm saying, if you are saying there russo123 04/17/14 07:13:48 PM
#7246   First of all, I'm not the issue here. russo123 04/17/14 07:10:25 PM
#7245   "I'm just saying rather then read all Black Beerd 04/17/14 06:50:57 PM
#7244   I did not take any pictures of the Lask 04/17/14 06:47:13 PM
#7243   I see...it's a jump ball....you both have nothing...if Black Beerd 04/17/14 06:45:17 PM
#7242   Yes, I have some nice pictures of Mexican Lask 04/17/14 06:40:04 PM
#7241   L...and the hotel bill...airline ticket and the land Black Beerd 04/17/14 06:38:57 PM
#7240   Well I did take alot pictures. I have Lask 04/17/14 06:38:20 PM
#7239   I don't disagree. I too like facts. But russo123 04/17/14 06:38:06 PM
#7238   I didn't say mines I said land. If russo123 04/17/14 06:34:52 PM
#7237   and yet you still cannot disprove anything. Lots Black Beerd 04/17/14 06:31:19 PM
#7236   I can go out and take a picture Black Beerd 04/17/14 06:20:14 PM
#7235   "Can you show a link that proves anything Black Beerd 04/17/14 06:14:50 PM
#7234   Take a picture of what land? There is Lask 04/17/14 06:12:56 PM
#7233   I'm sure you have a phone with you. russo123 04/17/14 06:07:23 PM
#7232   It appears you have no clue what a Lask 04/17/14 06:00:57 PM
#7231   "What do you make of that?" Black Beerd 04/17/14 05:24:21 PM
#7230   Ok, there is absolutely no proof of a Lask 04/17/14 05:12:26 PM
#7229   That is great. The 8-K filing, it assures Lask 04/17/14 04:54:08 PM
#7228   No no. Not here for that reason, that's Lask 04/17/14 04:32:35 PM
#7227   Bilbo, I'm going to get more shares before itsawinner 04/17/14 02:25:46 PM
#7226   Just to clarify, you are currently down in Bilboteabaggin 04/17/14 02:07:28 PM
#7225   "Everything I been telling you is about to Black Beerd 04/17/14 12:45:59 PM
#7224   Everyone with their hard earned money in the Lask 04/17/14 11:49:11 AM
#7223   Now. I'll tell you, what else they are Lask 04/17/14 10:46:18 AM
#7222   Do you have any idea what that form Lask 04/17/14 10:17:20 AM
#7221  Restored "Show proof of a uspr gold-mine." Black Beerd 04/17/14 09:40:13 AM
#7220   Really, let's look at this for what it Lask 04/17/14 07:21:15 AM
#7219   "The final one I want to mention is itsawinner 04/16/14 10:58:52 PM
#7216   If you really do want to see something Lask 04/16/14 05:39:36 PM
#7215   I know it's a crime, but, I believe Black Beerd 04/16/14 05:29:38 PM
#7214   Well, typically in Pink Sheet or OTCQB stocks, russo123 04/16/14 04:49:57 PM
#7211   I know it's a crime, but, I believe Lask 04/16/14 03:22:20 PM
#7210   Today's volume reflects the truth. But first, what Lask 04/16/14 02:41:45 PM
#7209   Russo123: You've been asking this rhetorical question for bigpaint 04/16/14 02:19:35 PM
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