UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report: July 9, 2015
(Date of earliest event reported)
U.S. PRECIOUS METALS, INC.
(Exact name of registrant as specified
in its charter)
| Delaware |
000-50703 |
14-1839426 |
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer I.D. No.) |
242A West Valley Brook Road
Califon, New Jersey 07830
(Address of Principal Executive Offices)
(732) 851-7707
(Registrant's telephone number, including
area code)
N/A
(Former name or former address, if changed
since last report)
Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| [ ] |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| [ ] |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| [ ] |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| [ ] |
Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 7.01 Regulation FD Disclosure.
On July 9, 2015, the Company issue the press release attached
hereto as Exhibit 99.1.
The information in this Item 7.01 of this Current Report
is furnished pursuant to Item 7.01 and shall not be deemed "filed" for any purpose, including for the purposes of Section
18 of the Exchange Act, or otherwise subject to the liabilities of that Section. The information in this Current Report on Form
8-K shall not be deemed incorporated by reference into any filing under the Securities Act or the Exchange Act regardless of any
general incorporation language in such filing. The filing of this report and the furnishing
of this information pursuant to Item 7.01 do not mean that such information is material or that disclosure of such information
is required.
Item 9.01. Financial Statements
and Exhibits.
99.1 Press Release of the Company dated
July 9, 2015.
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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U.S. PRECIOUS METALS, INC. |
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By: |
/s/ John Gildea |
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Name: John Gildea |
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Title: Chief Executive Officer |
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Date: July 9, 2015 |
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USPR PROVIDES DRILLING UPDATE AND
RELEASES ASSAY RESULTS ON
INITIAL 11 DRILL HOLES FROM ITS 2015
DRILLING CAMPAIGN
New York, NY- July 9, 2015- U.S. Precious Metals, Inc.
(OTCQB:USPR) announces that it has completed 25 drill holes (approximately 4,300 meters) to date under its 2015 drilling campaign.
Based on existing hole depths, the Company expects to drill a total of 30 holes in this campaign to reach 5,000 meters. The drilling
campaign focused on definition drilling of locations on the Main Zone and the Southern extension areas as well as extending the
Main Zone towards the North Zone.
Drilling Update
- Holes 1 through 8 have extended the Main Zone towards the North Zone. While we have not drilled any
holes in the North Zone to date, the North Zone exhibits an exposed quartz sulfide vein system that runs in the direction of the
Main Zone. In addition, we have grab samples from the North Zone indicating results as high as 36g/t Au. The North Zone is located
on an adjacent low-lying mountain separated by a wash area, which may be ideally suited for placer mining. Based on our current
drill results and the exposed vein system, we believe that the Main Zone is geologically connected to the North Zone, which is
a distance of approximately 500 meters peak to peak.
- Holes 9-11 were located in the northern end of the Southern extension and further expand the results
in this area from the 2008 and 2010 drilling campaigns. The Southern extension also exhibits an exposed quartz sulfide vein system
that runs in the direction of the Main Zone. The Southern extension is located on an adjacent low-lying mountain, also separated
by a wash area having placer mining potential.
- Holes 12-30 are designed to further expand the results in the southern portion of the Main Zone. The
Company undertook significant road work in order to reach these drill sites.
Summary Results
The Company has received the independent assay results
from ACT Labs, Zacatecas, Mexico (unrelated to ACT Holdings, a US company, our drilling operator) for the initial 11 cores. All
11 holes successfully intersected mineralization with numerous quartz sulfide veins.
Holes 1 through 8 assay results demonstrate grades up
to 39g/t Au, 60g/t Ag and 2.84% Cu. Key intercepts from each hole are as follows:
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DRILL HOLE: LS-15-001 |
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Au FA-AAS |
Cu '4A-AAS |
Ag 'TD-ICP |
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g/t |
% |
g/t |
| FROM |
TO |
Intercep (meters) |
0.005 |
0.001 |
1 |
| 5.55 |
7.05 |
1.50 |
1.369 |
<0.001 |
10 |
| 8.00 |
8.50 |
0.50 |
3.825 |
2.84 |
60 |
| 13.65 |
14.65 |
1 |
0.81 |
0.693 |
16 |
| 15.05 |
15.7 |
0.65 |
1.3 |
0.225 |
6.8 |
| 55.7 |
56.5 |
0.8 |
2.122 |
0.038 |
0.6 |
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DRILL HOLE: LS-15-002 |
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Au FA-AAS |
Cu '4A-AAS |
Ag 'TD-ICP |
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g/t |
% |
g/t |
| FROM |
TO |
Intercep (meters) |
0.005 |
0.001 |
1 |
| 7.00 |
8.00 |
1.00 |
2.866 |
<0.001 |
4 |
| 14.00 |
14.65 |
0.65 |
3.095 |
2.84 |
60 |
| 21.95 |
22.55 |
0.60 |
1.209 |
<0.001 |
<1 |
| 26.35 |
26.9 |
0.55 |
0.85 |
<0.001 |
<1 |
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DRILL HOLE: LS-15-003 |
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Au FA-AAS |
Cu '4A-AAS |
Ag 'TD-ICP |
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g/t |
% |
g/t |
| FROM |
TO |
Intercep (meters) |
0.005 |
0.001 |
1 |
| 26.50 |
27.50 |
1.00 |
2.891 |
<0.001 |
<1 |
| 80.60 |
81.25 |
0.65 |
1.736 |
<0.001 |
<1 |
| 115.15 |
115.77 |
0.62 |
13.546 |
<0.001 |
7.5 |
| 171.45 |
171.66 |
0.21 |
1.279 |
<0.001 |
2.2 |
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DRILL HOLE: LS-15-004 |
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Au FA-AAS |
Cu '4A-AAS |
Ag 'TD-ICP |
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g/t |
% |
g/t |
| FROM |
TO |
Intercep (meters) |
0.005 |
0.001 |
1 |
| 104.27 |
104.87 |
0.60 |
6.898 |
0.289 |
7.7 |
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DRILL HOLE: LS-15-005 |
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Au FA-AAS |
Cu '4A-AAS |
Ag 'TD-ICP |
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g/t |
% |
g/t |
| FROM |
TO |
Intercep (meters) |
0.005 |
0.001 |
1 |
| 37.03 |
37.22 |
0.19 |
10.74 |
0.172 |
6.8 |
| 79.68 |
79.95 |
0.27 |
39 |
0.25 |
4.7 |
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DRILL HOLE: LS-15-006 |
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Au FA-AAS |
Cu '4A-AAS |
Ag 'TD-ICP |
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g/t |
% |
g/t |
| FROM |
TO |
Intercep (meters) |
0.005 |
0.001 |
1 |
| 26.35 |
26.50 |
0.15 |
10.09 |
0.404 |
90.2 |
| 82.45 |
82.90 |
0.45 |
1.632 |
0.156 |
5 |
| 82.90 |
83.55 |
0.65 |
18.99 |
0.066 |
7.5 |
| 155.2 |
155.5 |
0.3 |
8.018 |
0.004 |
15.1 |
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DRILL HOLE: LS-15-007 |
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Au FA-AAS |
Cu '4A-AAS |
Ag 'TD-ICP |
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g/t |
% |
g/t |
| FROM |
TO |
Intercep (meters) |
0.005 |
0.001 |
1 |
| 10.65 |
11.60 |
0.95 |
1.687 |
0.373 |
14.9 |
| 13.70 |
14.20 |
0.50 |
4.646 |
1.08 |
5 |
| 86.50 |
87.00 |
0.50 |
19.98 |
0.087 |
8.2 |
| 146.45 |
147.05 |
0.6 |
7.929 |
0.232 |
19.2 |
| 147.05 |
147.65 |
0.6 |
4.203 |
0.128 |
10.5 |
| 148.65 |
149.15 |
0.5 |
3.619 |
0.128 |
15.2 |
| 149.15 |
149.65 |
0.5 |
1.189 |
0.197 |
25.4 |
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DRILL HOLE: LS-15-008 |
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Au FA-AAS |
Cu '4A-AAS |
Ag 'TD-ICP |
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g/t |
% |
g/t |
| FROM |
TO |
Intercep (meters) |
0.005 |
0.001 |
1 |
| 74.40 |
74.75 |
0.35 |
1.571 |
<0.001 |
5.9 |
| 78.40 |
79.30 |
0.90 |
1.513 |
<0.001 |
4.5 |
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Holes 9 through 11 assay results demonstrate extremely
high grades of Au, Ag and Cu values, with grades up to 31.06 g/t Au, 864g/t Ag and 5.35% Cu. Significant mineralization also was
intersected by core drilling in 2008 and 2010 from this same location. Key intercepts from each hole are as follows:
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DRILL HOLE: LS-15-009 |
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Au FA-AAS |
Cu '4A-AAS |
Ag 'TD-ICP |
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g/t |
% |
g/t |
| FROM |
TO |
Intercep (meters) |
0.005 |
0.001 |
1 |
| 72.70 |
72.85 |
0.15 |
2.79 |
2.794 |
40.7 |
| 179.50 |
180.00 |
0.50 |
7.891 |
1.917 |
48.4 |
| 180.00 |
180.50 |
0.50 |
31.06 |
3.692 |
136.59 |
| 180.50 |
181.00 |
0.50 |
14.09 |
3.641 |
89.8 |
| 182.20 |
183.20 |
1.00 |
1.091 |
0.261 |
7.2 |
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DRILL HOLE: LS-15-010 |
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Au FA-AAS |
Cu '4A-AAS |
Ag 'TD-ICP |
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g/t |
% |
g/t |
| FROM |
TO |
Intercep (meters) |
0.005 |
0.001 |
1 |
| 0.00 |
2.20 |
2.20 |
0.133 |
0.119 |
38.7 |
| 2.90 |
3.70 |
0.80 |
0.014 |
0.132 |
20.4 |
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DRILL HOLE: LS-15-011 |
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Au FA-AAS |
Cu '4A-AAS |
Ag 'TD-ICP |
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g/t |
% |
g/t |
| FROM |
TO |
Intercep (meters) |
0.005 |
0.001 |
1 |
| 19.60 |
20.60 |
1.00 |
1.037 |
0.141 |
2.5 |
| 33.50 |
34.10 |
0.60 |
2.229 |
4.865 |
835.39 |
| 34.10 |
34.70 |
0.60 |
1.793 |
0.619 |
203.21 |
| 34.70 |
35.20 |
0.50 |
4.929 |
5.212 |
507.31 |
| 35.20 |
35.70 |
0.50 |
3.342 |
5.355 |
500 |
| 35.70 |
36.20 |
0.50 |
3.136 |
1.071 |
114.77 |
| 36.20 |
36.90 |
0.70 |
5.281 |
3.223 |
401.73 |
To view a complete table of available composited results
for Holes 1 through 11, please click on the following link to the Company’s website: http://www.usprgold.com/exploration/assays-2015-campaign-drill-holes-1-to-11.
Additional Information.
The core samples for holes 12 to 25 are in various stages
of being logged and assayed by ACT Labs. Once results have been received and processed by the Company, we will provide the results
to shareholders.
Mr. Dave Burney, the Company’s Chief Geologist,
stated “we are extremely pleased with the results to date as they far exceed the results from the prior two drilling campaigns.”
Mr. Burney further stated “it is important to note that these results have been arrived at relatively shallow depths between
150 to 200 meters.”
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 owning exploration and exploitation concessions to approximately 37,000 contiguous acres
of mineral rights.
www.usprgold.com.
This press release may contain certain "forward-looking
statements" relating to the business of U.S. Precious Metals, Inc. and its subsidiary. All statements, other than statements
of historical fact included herein are "forward-looking statements" including statements regarding the Company's short
term business and operations, the general ability of the Company to achieve its commercial objectives, including the ability of
the Company to sustain growth; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements
of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology
such as "believes," "expects", “intended” or similar expressions, involve known and unknown risks
and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable,
they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place
undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual
results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors,
including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available
on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf
are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does
not assume a duty to update these forward-looking statements.
Investment & Company Information
Steve Chizzik
Investor relations
The Verrazano Group, LLC
+1(973) 232 5132