U.S. Precious Metals, Inc. Developing Gold, Silver And Copper Projects Primarily In Mexico 0 comments
Sep 29, 2014 8:44 AM | about stocks: USPR
An exploration stage company Metals & Mining industry (sub-industry: Industrial Metals & Minerals), U.S. Precious Metals, Inc. engages in the acquisition, exploration, and development of mineral properties. The Company owns exploration and exploitation concessions to approximately 37,000 contiguous acres of mineral rights. Founded in 1998, its corporate mission is to discover, acquire, define, and develop gold deposits and other valuable metals.
The Company's development projects are chiefly in Mexico, but also across the Americas. U.S. Precious Metals is centering on gold, silver and copper mainly situated in the State of Michoacán, Mexico.
The 17,000-hectare Solidaridad mining leases are held by U.S. Precious Metals of Mexico, which is a wholly-owned subsidiary of the Company. The Solidaridad properties consist of 8 concessions granted by the Mexican government for a 50-year period. All information available to the Company has been realized from boreholes drilled by it and by the preceding two companies that explored the property and analyzed under chain of custody by an independent laboratory.
U.S. Precious Metals entered into an agreement with Mesa Acquisitions Group, LLC, in association with Alba Petroleos, in May of 2013. This agreement is to further explore and develop U.S. Precious Metals' Mexican concessions. Mesa Acquisitions/Alba Petroleos committed to spend up to roughly $50 million to explore and develop pre-determined portions of two of U.S. Precious Metals' Mexican concessions known as Solidaridad 1 & Solidaridad 2.
It will also build the needed plant and/or bring in the required equipment to process the head ore. In return, it will receive 10 million shares of U.S. Precious Metals common stock and receive a 30% interest of the project. U.S. Precious Metals will retain 70% of the project.
On June 14, 2014, Mesa Acquisition Group, U.S. Precious Metals' joint venture (JV) partner, completed the ground work or Phase 2 of identifying and defining mineralization previously portrayed by satellite imagery. Consorcio de Tecnologias Avanzadas de Columbia Ltda, the Company's sub-contractor, did the ground work which comprised two specific geophysical techniques; "Forming Short-Pulsed Electromagnetic Fields" (FSPEF) and "Vertical Electric-Resonance Sounding" (VERS).
A crew took 210 readings in 70 kilometers of lines. It concentrated mainly on the 71 identified satellite imagery anomalies. In addition, the geophysical survey was substantially expanded to include zones well outside the original contracted zone.
Furthermore, U.S. Precious Metals acquired Resource Technology Corp. Consequently, it has incorporated the latest technological advancements in ore refining via adopting Thermal processing.
Plasmafication is an advanced thermal process. Ionized gas is heated by electrical energy to temperatures coming close to or above that of the surface of the sun. The plasmafication process has an innovative application to the commercial precious and rare earth metals mining industry.
It can recover metal fines otherwise not recoverable by customary commercial scale refining or concentration methods. The plasmafication process enables higher recovery rates. In addition, it has substantively cleaner emissions than conventional refining.
Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Themes: mining sector, mining, mines, precious metals, concessions, Mexico, refining, solidaridad, staellite, imagery, small-cap mining companies, mining in mexico, thermal processing, plasmafication process, satellite imagery, gold, silver, copper Stocks: USPR
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