USPR Provides Drilling Update and Releases Assay Results on Initial 11 Drill Holes from Its 2015 Drilling Campaign
July 09 2015 - 10:24AM
Access Wire
NEW YORK, NY / ACCESSWIRE / 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:
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:
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:
U.S. 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
SOURCE: U.S. Precious Metals, Inc.