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U.S. Precious Metals
USPR- will be announcing great news at any moment. Possible results that could send this to a $1 stock.


U.S. Precious Metals, Inc. (OTCQB: USPR)  US Precious Metals, Inc. (USPR) Announces Completion of Geophysical Ground Surveying

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 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.

U.S. Precious Metals, Inc.  is an exploration stage company engaged in the acquisition, exploration and development of mineral resource properties. The Company focuses on gold and base mineral resource properties primarily located in the southern portion of the state of Michoácan, Mexico. The company owns exploration and exploitation rights to approximately 37,000 acres of land. All information available to the Company has been obtained from bore holes drilled by USPM and by the previous two companies that explored the property and analyzed under chain of custody by an independent laboratory.
 


Introductionyes

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.

Historyyes

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.




 

Geologyyes

The Solidaridad deposit is a gold, silver, copper deposit within Guerrero Terrain of southern Michoacan. Cross cutting quartz sulfide veins, currently characterized as mesothermal veins, are hosted within a sedimentary sequence of black shales, siltstones and quartzites consistent with a shallow marine continental margin of Pliocene Miocene age. Andesite sills are present within the sedimentary sequence. The sedimentary units unconformably overlie a porphyritic rhyolite of Miocene Oligocene age. Interpreted diorite intrusions have been mapped on the surface. To the south of the previously drilled "Main Zone" a massive sulfide deposit has been identified. The area, Cuendeo, is the focus of the 2010 drilling campaign. Petrographic studies have identified hypogene sulfides, predominantly pyrite and chalcopyrite



 

Mineralizationyes

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. 

Drillingyes

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. The drilling continued through November, 2008 with 4000 meters of core drilled during the campaign. The core was transported to the Lab in Morelia where it was inventoried, washed and logged. Mineralized intercepts were split, sampled and shipped to an assay lab in the U.S. under Chain of Custody.

Mineral Processingyes

The first metal extraction tests were conducted for La Sabila in October, 2009. These tests were necessary as a proof of concept prior to mining on larger scales. The ore collected from a vein exposed on the surface was previously assayed at 0.062 ounces per ton gold, 17.3 ounces per ton silver and 7.16% copper. The ore samples are believed to contain the copper minerals chalcocite and chalcopyrite, the silver mineral acanthite, native gold and gold bearing pyrite. In addition, copper oxides are present. A silver bar produced in the laboratory was assayed by Chris Christopherson, Inc. of Kellogg Idaho ("CCI") for gold, silver and copper. The four inch long bar assayed by CCI ran 5.425 ounces per ton gold, 199.8 ounces per ton silver and 76.0% copper. American Analytical Services, Inc. of Wallace, Idaho completed the 41 element an.Metallurgical testing conducted at the Company's Morelia laboratory is under the direction of Carlos Becerra, a 25 year veteran of the mining industry in Mexico. Mr. Becerra, a chemist and metallurgist, is using industry standard techniques to concentrate the metals and create the bars. Different types of bars have been produced in the Company's laboratory: a copper sulfide bar which contains silver, gold and copper as well as bars of silver with copper and gold. This metallurgical testing and production of metal bars confirms to the Company that gold, silver and copper can be extracted. The Company intends to produce gold, silver and copper in its laboratory and duplicate the processes at the project site on a production

Summaryyes

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.



 


 

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.

Hans H. Hertell
President, Director

An attorney with over 30 years experience in government, public affairs, business, and banking, AmbassadorHans H. Hertell was sworn in as the United States Ambassador to the Dominican Republic on November 8, 2001. At the time, the Dominican Republic was the fourth largest trading partner of the United States in the Western Hemisphere after Canada, Brazil and Mexico and the largest economy in Central America and theCaribbean. When he finished his tour on May 1, 2007, Ambassador Hertell was the second longest serving U.S. Ambassador in the world.

From 1992 to 1996 Ambassador Hertell was Managing Director of Latin America and the Caribbean for Black, Kelly, Scruggs and Healey, a government and public affairs company based in Washington, D.C. He was responsible for all aspects of the firm's activities in Latin America and the Caribbean. In that capacity, Ambassador Hertell represented several Fortune 50 companies as well as governments in the region. Previously, he was Chief Executive Officer and Chairman of Ponce Federal Bank (NYSE), one of the largest publicly traded corporations in the Caribbean, with $1.3 billion in assets. Ambassador Hertell was also one of the founding partners of the third largest full service law firm in Puerto Rico, Goldman, Antonetti, Ferraiuoli, Axtmayer and Hertell.

Ambassador Hertell was instrumental in the early development of a major gold exploration company currently listed on the NYSE.

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.

David Cutler
Chief Financial Officer

Mr. Cutler has more than 30 years of experience in international finance, accounting and business administration. Mr. Cutler was Chief Financial Officer and subsequently Chief Executive Officer of Multi-Link Telecommunications, Inc., a publicly quoted voice messaging business, from 1999 to 2005. Mr. Cutler has been a director and Chief Financial Officer of Discovery Gold Corporation, a publicly quoted mineral exploration company with interests in Ghana, since August 2012 and is the Principal of Cutler & Co., LLC, a PCAOB registered auditing company. Mr. Cutler is the sole officer and a director of the following publicly quoted shell companies: Golden Dragon Holding Co. (formerly Concord Ventures, Inc.), since March 2006, Southwestern Water Exploration Co., since March 2011, Torrent Energy Corporation, since October 2011, Quantech Electronics Corp since May 2012, Capital Resource Alliance, Inc., since September 2012 and Zulu Energy Corporation since April 3, 2012. Mr. Cutler was the sole officer and a director of US Holdings, Inc. (nka California Style Palms, Inc.), a publicly listed shell company, from July 2011 to September 2013, Aspeon, Inc. (nka Aspi, Inc.), a publicly listed shell company, from April 2005 until October 2009 and a director and officer of Atomic Paintball, Inc., a development stage owner and operator of paintball parks, from August 2006 until December 2009. Atomic Paintball, Inc. filed for Chapter 7 in 2009. Mr. Cutler has a Masters degree from St. Catharine’s College in Cambridge, United Kingdom and qualified as a British Chartered Accountant and Chartered Tax Advisor with Arthur Andersen & Co. in London. He was subsequently admitted as a Fellow of the UK Institute of Chartered Accountants. Since arriving in the United States, Mr. Cutler has qualified as a Certified Public Accountant, a Certified Valuation Analyst of the National Association of Certified Valuation Analysts and obtained an executive MBA from Colorado State University.


Board of Directors

♦ Jerry Pane
   Chief Executive Officer, Chairman of the Board

♦ Hans H. Hertell
   President, Director

♦ Daniel Joonsikk Moon
   Director

♦ Daniel H. Luciano
   Director and Corporate Attorney                                    

♦ Chad Altieri, Esq.
   Director

♦ Sheldon Baer
   Director

♦ David W. Burney
   Director

♦ John Gildea
   Director

♦ Michael Volkov
   Director

 


 

Share Statistics
Outstanding: 140,745,413
(as of April 21, 2014)

Company Information
U.S. Precious Metals, Inc.
176 Route 9 North
Suite 306
Marlboro, NJ 07728

Transfer Agent
Issuer Direct Corporation
500 Perimeter Park Dr. Ste. D
Morrisville, NC 27560
(919) 481-4000 (phone)
(202) 521-3505 (fax)

Auditors
Jeffrey & Company
61 Berdan Avenue
Wayne, NJ 07470

Legal Counsel
Daniel H. Luciano
Attorney at Law
242A West Valley Brook Road
Califon, New Jersey 07830
(908) 832-5546 (phone)
(847) 556-1456 (fax)
Member Texas and New Jersey Bars


Financial Reporting/Disclosure

Reporting Status U.S. Reporting: SEC Filer
Audited Financials Audited
Latest Report Feb 28, 2014 10-Q
CIK 0001286181
Fiscal Year End 5/31
OTC Marketplace OTCQB
Market Value1 $28,810,586 a/o Aug 11, 2014
Shares Outstanding 140,745,413 a/o Apr 21, 2014
Float 43,506,477 a/o Aug 26, 2011
Authorized Shares 150,000,000 a/o Aug 26, 2011
Par Value 0.00001
 

 

              

  ------------------------------------------ALL OTHER MODS MUST PLACE THIER CONTENT BELOW THIS LINE USA*2014-------------------------------------------------------------------------------------------------------                      


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Wiki
USPR News: Notification That Annual Report Will Be Submitted Late (nt 10-k) 08/29/2014 01:49:18 PM
USPR News: Notification That Annual Report Will Be Submitted Late (ntn 10k) 08/29/2014 11:01:16 AM
USPR News: Current Report Filing (8-k) 06/26/2014 03:10:39 PM
USPR News: Current Report Filing (8-k) 06/26/2014 01:04:12 PM
USPR News: US Precious Metals, Inc. (USPR) Announces Completion of Geophysical Ground Surveying 06/20/2014 09:15:00 AM
PostSubject
#9721  Sticky Note USPR READY TO RELEASE BILLIONS IN MINERALS USA*2014 08/15/14 07:40:37 AM
#6841  Sticky Note Here are good places to report SEC fraud. Lask 02/15/14 03:04:44 PM
#10128   I agree Jet Man and that's why I'm USA*2014 09/01/14 06:43:31 PM
#10127   There are a lot of variables in this Jet Man 09/01/14 02:47:56 PM
#10126   I agree.....With the addition of the new directors notaclueyet 09/01/14 02:23:37 PM
#10125   Great post and very accurate regarding OTC companies slmufan 09/01/14 02:22:51 PM
#10124   "If the results are good on the small Black Beerd 09/01/14 01:41:36 PM
#10123   If the results are good on the small Jet Man 09/01/14 01:19:26 PM
#10122   IMO, I would agree with the unknown... but... Black Beerd 09/01/14 12:41:33 PM
#10121   I believe this particular vote is irrelevant. the red roobio 09/01/14 11:13:45 AM
#10120   Still haven't heard from many please post Adrock 08/31/14 08:05:46 PM
#10119   Ok I hear you and respect your opinion. Adrock 08/30/14 05:54:47 PM
#10117   My vote is not next week , short slmufan 08/30/14 04:13:34 PM
#10103   i vote yes, next week. but if vuduu 08/30/14 12:59:32 PM
#10101   For once I can affirmatively state that I think itsawinner 08/30/14 12:43:06 PM
#10099   Next week is my belief.However,"I know nothing"!! Jet Man 08/30/14 11:39:13 AM
#10098   Jet man what's you vote please? Adrock 08/30/14 11:30:51 AM
#10097   The question is what is the highest price Jet Man 08/30/14 11:04:10 AM
#10096   My vote is that the pps will trade manxy 08/30/14 10:52:31 AM
#10095   id say yes addie... Bilboteabaggin 08/30/14 10:51:13 AM
#10094   I truly hope for those that own the russo123 08/30/14 10:28:08 AM
#10092   Of course I have NOT. I have never russo123 08/30/14 10:23:53 AM
#10091   It will come when it comes .. Next slmufan 08/30/14 10:21:12 AM
#10090   I would like anyone who has posted on Adrock 08/30/14 09:34:54 AM
#10089   i definitely think we see something next week usprinvestor 08/30/14 09:19:25 AM
#10088   Let's take a vote yay or nay that Adrock 08/30/14 09:03:10 AM
#10085   I never expressed an opinion on the stock russo123 08/29/14 07:09:09 PM
#10084   20B of Gold on the 2200 Acres would Jet Man 08/29/14 04:57:49 PM
#10083   5.4% of property!! Student of the Game 08/29/14 04:55:46 PM
#10082   Maybe but it's stool a crazy number on slmufan 08/29/14 04:48:48 PM
#10081   Pretty decent day considering its a Friday of Black Beerd 08/29/14 04:43:08 PM
#10080   there is a reason they call me vuduu!!!!! vuduu 08/29/14 04:43:05 PM
#10079   You do realise 20bn on 2000 acres is slmufan 08/29/14 04:37:37 PM
#10078   What would people consider good results? vuduu 08/29/14 04:32:21 PM
#10077   ...the stock is a better buy at 30c vuduu 08/29/14 04:28:18 PM
#10076   Green for the day..and the week.yea notaclueyet 08/29/14 04:01:53 PM
#10075   New topic as I'm feeling a bit better slmufan 08/29/14 03:08:19 PM
#10074   When I was told about USPR I did Black Beerd 08/29/14 02:32:00 PM
#10073   i don't really care if you agree with vuduu 08/29/14 02:03:42 PM
#10072   I agree with the first part. We will russo123 08/29/14 01:33:35 PM
#10069   Tell you what , you buy it at 30 slmufan 08/29/14 12:47:57 PM
#10068   OK Enough is enough,i must throw in red roobio 08/29/14 12:32:58 PM
#10067   funny...when I was first told to buy the usprinvestor 08/29/14 12:30:04 PM
#10066   when I was first told to buy the vuduu 08/29/14 11:53:24 AM
#10065   That's your problem. nobody elses slmufan 08/29/14 11:43:53 AM
#10064   I don't understand who would be selling trucker 08/29/14 11:41:57 AM
#10063   I think you are missing the point. when manxy 08/29/14 11:41:40 AM
#10062   3-1 buying today... vuduu 08/29/14 11:38:37 AM
#10061   3-1 buying today... USA*2014 08/29/14 11:34:31 AM
#10058   I WASN'T THE ONE THAT BROUGHT IT UP. russo123 08/29/14 10:56:47 AM
#10057   NOBODY CARES, ITS AN IRRELAVANT POINT. ITS ABOUT slmufan 08/29/14 10:45:06 AM
#10056   I think it's more interesting that the link russo123 08/29/14 10:37:29 AM
PostSubject