U.S. Precious Metals, Inc. (OTCMKTS:USPR) is making an explosive move up on accelerating volume since reversing off $0.11 lows The stock was trading over $0.30 last year but dropped of significantly before the recent run up.
The excitement on USPR is due to the Company’s 37,000-acre property down in Michoacán, Mexico. According to many reports there is a huge mineralized system on the property and you can pick up copper float on the ground with visible gold and copper systems.
U.S. Precious Metals, Inc. (OTCMKTS:USPR) explores and develops precious and base metal properties in the U.S. and Mexico. The Company 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. The Company 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.
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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.
The Company 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.
Back in the beginning of March USPR announced the hiring of ACT HOLDINGS, LLC, (ACT) to act as operator for the Company’s 2015 core drilling program on its mining concessions located in Michoacan, Mexico. The program initially consists of 5,000 meters that target areas near drill holes from prior drilling campaigns to expand and define known mineralized zones at depth. Moreover, specific anomalies identified by the Company’s satellite imaging and ground geophysics in previously unexplored areas are additional targets of this drilling campaign. In these areas, the Company’s goal is to confirm with core drilling a number of the anomalies identified by prior imaging and geophysical data.
ACT, with offices in Kings Mountain (Charlotte), North Carolina and Miami, Florida, is a design, engineering and manufacturing firm. ACT has subcontracted the following team of experienced mining professionals:
- BRPH, Melbourne Florida, is an international engineering and design group with national and international clients. BRPH will be responsible for design and construction of roads, drill sites, drainage and retention structures, power, water, sanitation systems, environmental remediation and reclamation.
- Globexplore Drilling SA De CV, Sonora, Mexico, will conduct the actual drilling operations on the concessions. Globexplore is one of the most respected core drilling companies in Mexico. They maintain state of the art equipment capable of drilling to depths of 1,700 meters. Globexplore has performed drilling operations for many well-known exploration companies in Mexico, including Grupo Mexico, and Timmins Gold, among others.
- Francis X.R. Delzer, Professional Engineer and Rene G. von Boeck, Professional Geologist have been retained to assist the Company’s geologist, Mr. Dave Burney. Collectively, Messers. Delzer and von Boeck have over 80 years’ experience in domestic and international mining and exploration projects, often times working together. Projects include: US Steel’s Orinoco Mining, Ciudad Piar, Venezuela (Iron Ore), Minera Industrials, Portovelo, Ecuador (Gold, Copper, Lead, Zinc), and Anaconda’s Andes Copper Mine, El Salvador, Chile (copper).
Their responsibilities will include independent analysis of drill site locations and drilling activities, and maintaining the integrity of on site, drill cores for the necessary “Chain of Custody” control.
- ACT also hired Samuel S. Johnson, MBA, PE to function as Project Manager. Mr. Johnson has over 40 years’ experience in mining, business development, and has been president and COO of several companies.
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Currently trading at a $30 million market valuation USPR has little cash, no revenues and rising short term debt. But this is an exciting story developing in small caps; reports coming back from the Company’s 37,000-acre property down in Michoacán, Mexico suggest this is a huge mineralized system and the recent satellite imaging from MAG which identified 71 anomalies on the 2,000 acres. USPR has clearly captured the imagination of bb investors and is fast becoming one of the top traded stocks on the entire bb’s. We will be updating USPR as events unfold so make sure you are subscribed to Microcapdaily so you know what is going on with USPR.
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Disclosure: we hold no position in USPR either long or short and we have not been compensated for this article.