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: October 14, 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)
176 Route 9 North
Suite 306
Marlboro, NJ 07728
(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))
|
Item 7.01 Regulation FD Disclosure.
On October 14, 2015, the Company issued 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
October 14, 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: October 14, 2015 |
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U.S. Precious Metals, Inc. (USPR)
Announces Completion and Results of 2015 Drill Campaign
New York, New York - October 14, 2015 - U.S Precious
Metals, Inc. (USPR.OTCQB) announces its final drilling results from the 2015 drill program on its Solidaridad property, Michoacán,
Mexico. The 2015 program consisted of 4,303 meters of diamond drilling resulting in 27 holes. The drill program provided infill
drilling on the “Main Zone,” confirmation drilling of older RC drill results and some exploratory drilling in the “North,”
“South,” “East” and “West Zones” which surround the “Main Zone.” The “Main
Zone” drilling continued to return excellent Cu-Ag-Au results while exploratory drilling on the “North Zone”
targets returned high grade intervals.
Highlights are indicated below followed by a table
of significant intercepts (41 separate intervals) from the program. Drill hole LS 15-023 was the deepest mineralized intercept
from 183.7m to 194.6m (10.9 meters) of 2.9 ppm Au and 11.2 ppm Ag. Drill hole LS 15-024 is a 100 meter step-out to the south from
drill hole LS 15-023 and the rest of the Main Zone drilling. The intercept in drill hole 24 from 182.2m to 187.8m (5.6 meters)
of 6.5 ppm Au and 17.0 ppm Ag importantly establishes a 100 meter horizontal continuity between holes 23 and 24 at depth.
Main Zone significant intercepts
| Drill Hole # |
From (m) |
To (m) |
Length (m) |
Au (ppm) |
Ag (ppm) |
Cu (%) |
| LS15-009 |
178.3 |
181.0 |
2.7 |
7.3 |
54.0 |
1.8 |
| LS15-015 |
29.3 |
31.7 |
2.4 |
9.1 |
95.4 |
2.6 |
| LS15-015 |
45.6 |
47.2 |
1.6 |
20.0 |
156.1 |
5.3 |
| LS15-015 |
138.7 |
150.4 |
11.7 |
3.5 |
17.0 |
0.5 |
| Includes |
138.7 |
140.7 |
2.0 |
4.5 |
17.6 |
0.3 |
| and |
145.5 |
150.4 |
4.9 |
6.4 |
34.0 |
1.0 |
| LS15-022 |
31.8 |
41.4 |
9.6 |
7.3 |
9.7 |
0.2 |
| LS15-023 |
33.0 |
37.1 |
4.1 |
14.8 |
30.8 |
1.3 |
| LS15-023 |
183.7 |
194.6 |
10.9 |
2.9 |
11.2 |
0.3 |
| Includes |
184.8 |
188.0 |
3.2 |
4.3 |
4.4 |
0.2 |
| LS15-024 |
182.2 |
187.8 |
5.6 |
8.6 |
17.0 |
1.3 |
North Zone Significant Intercepts
| Drill Hole # |
From (m) |
To (m) |
Length (m) |
Au (ppm) |
Ag (ppm) |
Cu (%) |
| LS15-003 |
114.2 |
115.8 |
1.6 |
5.2 |
3.2 |
0.05 |
| LS15-007 |
86.5 |
87.0 |
0.5 |
19.98 |
8.2 |
0.1 |
| LS15-007 |
145.8 |
151.2 |
5.4 |
2.12 |
15.8 |
0.2 |
| includes |
146.5 |
147.7 |
1.2 |
6.07 |
15.0 |
0.2 |
A map of all 2015 drill collars and sections across the
mineralized zones is available on USPR’s website at http://www.usprgold.com/exploration/cross-sections
A table of all key drill results is included below and is
also available at http://www.usprgold.com/exploration/assays-2015-drill-campaign-results
The 2015 drill program followed up on results from earlier
drill programs including drilling in 2008 and 2010 and the weighted averages from these drill programs which have not been previously
released are now available on the USPR’s website.
Dave Burney, the Company’s Chief Geologist stated,
“The 2015 drilling results, combined with the results of the 2008 and 2010 drilling campaigns provides us with a comprehensive
understanding of the Main Zone and mineralized areas surrounding the Main Zone. All assay results from the 2015 drilling campaign,
maps and cross-sections generated by the independent contractors have been provided to a team of professionals that includes ‘Qualified
Person’ (QP) geologists who are evaluating all data and are in the process of completing a ‘Technical Report.’
The second phase of drilling is now in the planning stage. We are currently evaluating drill targets for further definition and
exploratory drilling on the 2200 meter long mineralized trend that extends from the ‘North Zone’ to Cuendeo. Additionally,
we are evaluating a soil and stream sediment survey campaign to begin exploring other areas where surface samples have returned
favorable assay results for all three metals. “
Table 1: 2015 Key Drill Intercepts
| Drill Hole |
From(m) |
To(m) |
Length (m) |
Au_ppm |
Ag_ppm |
Cu_pct |
| LS15-001 |
5.6 |
8.5 |
3.0 |
1.4 |
12.7 |
0.8 |
| LS15-002 |
6.0 |
8.0 |
2.0 |
1.5 |
3.0 |
0.1 |
| LS15-003 |
25.5 |
27.5 |
2.0 |
1.5 |
6.8 |
0.1 |
| LS15-003 |
114.2 |
115.8 |
1.6 |
5.2 |
3.2 |
0.0 |
| LS15-004 |
98.9 |
99.5 |
0.5 |
6.9 |
7.7 |
0.3 |
| LS15-006 |
82.0 |
83.6 |
1.6 |
8.6 |
4.9 |
0.1 |
| LS15-007 |
10.7 |
14.2 |
3.6 |
1.4 |
21.5 |
0.4 |
| LS15-007 |
86.5 |
87.0 |
0.5 |
20.0 |
8.2 |
0.1 |
| LS15-007 |
145.8 |
151.2 |
5.4 |
2.1 |
15.8 |
0.2 |
| Includes |
146.5 |
147.7 |
1.2 |
6.1 |
14.9 |
0.2 |
| LS15-009 |
178.3 |
181.0 |
2.7 |
7.3 |
53.5 |
1.8 |
| LS15-011 |
32.9 |
39.6 |
6.8 |
1.9 |
238.9 |
1.7 |
| Includes |
33.5 |
37.4 |
3.9 |
3.1 |
377.2 |
2.9 |
| Or |
36.2 |
36.9 |
0.7 |
5.3 |
401.7 |
3.2 |
| LS15-013 |
55.3 |
59.0 |
3.8 |
3.5 |
47.1 |
0.7 |
| Includes |
56.0 |
56.5 |
0.5 |
7.8 |
41.8 |
0.2 |
| and |
57.7 |
59.0 |
1.4 |
5.2 |
74.5 |
1.6 |
| LS15-014 |
69.1 |
70.4 |
1.4 |
9.7 |
35.1 |
1.0 |
| LS15-015 |
29.3 |
31.7 |
2.4 |
9.1 |
95.4 |
2.6 |
| LS15-015 |
45.6 |
47.2 |
1.6 |
20.0 |
156.1 |
5.3 |
| LS15-015 |
138.7 |
140.7 |
2.0 |
4.5 |
17.6 |
0.3 |
| LS15-015 |
145.5 |
150.4 |
4.9 |
6.4 |
34.0 |
1.0 |
| Includes |
145.5 |
146.9 |
1.4 |
7.8 |
26.8 |
0.9 |
| and |
148.9 |
150.4 |
1.5 |
13.6 |
84.8 |
2.4 |
| LS15-017 |
113.1 |
115.7 |
2.6 |
2.4 |
26.2 |
0.9 |
| Includes |
114.4 |
115.3 |
0.9 |
5.1 |
23.1 |
0.8 |
| LS15-018 |
79.9 |
81.9 |
2.0 |
1.1 |
33.7 |
0.8 |
| LS15-018 |
84.2 |
89.7 |
5.5 |
1.4 |
46.3 |
1.4 |
| LS15-019 |
29.5 |
31.1 |
1.6 |
14.1 |
66.8 |
1.6 |
| LS15-019 |
71.0 |
73.3 |
2.3 |
1.9 |
11.1 |
0.3 |
| LS15-019 |
117.9 |
118.5 |
0.6 |
24.1 |
119.8 |
3.6 |
| LS15-020 |
65.7 |
71.3 |
5.6 |
1.3 |
6.6 |
0.3 |
| LS15-020 |
79.0 |
83.4 |
4.3 |
7.7 |
32.6 |
1.4 |
| Includes |
81.0 |
83.4 |
2.3 |
13.6 |
56.4 |
2.4 |
| LS15-020 |
105.7 |
108.4 |
2.7 |
1.9 |
23.8 |
0.6 |
| Includes |
106.9 |
108.4 |
1.5 |
3.1 |
39.7 |
1.0 |
| LS15-021 |
57.0 |
59.8 |
2.8 |
3.0 |
11.1 |
0.2 |
| Includes |
58.6 |
59.3 |
0.7 |
6.9 |
27.1 |
0.6 |
| LS15-022 |
31.8 |
41.4 |
9.6 |
7.3 |
9.7 |
0.2 |
| LS15-022 |
138.8 |
143.4 |
4.6 |
2.3 |
12.0 |
0.3 |
| Includes |
139.4 |
140.2 |
0.8 |
6.7 |
20.0 |
0.7 |
| LS15-022 |
141.2 |
141.7 |
0.5 |
6.5 |
52.5 |
1.3 |
LS15-023 |
33.0 |
37.1 |
4.1 |
14.8 |
30.8 |
1.3 |
| LS15-023 |
109.4 |
112.7 |
3.4 |
2.1 |
10.2 |
0.2 |
| Includes |
110.6 |
111.6 |
1.0 |
5.1 |
23.1 |
0.3 |
| LS15-023 |
174.6 |
176.7 |
2.1 |
3.0 |
38.9 |
0.7 |
| Includes |
175.7 |
176.7 |
1.0 |
6.0 |
76.3 |
1.4 |
| LS15-023 |
183.7 |
194.6 |
10.9 |
2.9 |
11.2 |
0.3 |
| Includes |
183.7 |
188.7 |
5.0 |
2.9 |
3.6 |
0.1 |
| Includes |
184.8 |
188.0 |
3.2 |
4.3 |
4.4 |
0.2 |
| Or |
186.3 |
188.0 |
1.7 |
6.2 |
4.5 |
0.2 |
| LS15-023 |
189.9 |
192.9 |
3.0 |
1.1 |
6.6 |
0.3 |
| LS15-024 |
144.9 |
147.4 |
2.5 |
1.4 |
19.7 |
0.8 |
| LS15-024 |
149.8 |
150.3 |
0.5 |
6.1 |
9.3 |
0.1 |
| LS15-024 |
182.2 |
187.8 |
5.6 |
8.6 |
17.0 |
0.7 |
| Includes |
182.2 |
182.8 |
0.6 |
9.3 |
12.9 |
0.1 |
| and |
184.1 |
187.8 |
3.8 |
8.3 |
18.1 |
0.9 |
| LS15-026 |
142.0 |
145.1 |
3.1 |
1.3 |
15.3 |
0.1 |
| LS15-026 |
143.4 |
143.9 |
0.5 |
5.8 |
9.6 |
0.1 |
About USPR
US Precious Metals, Inc. is an exploration stage
company engaged in the acquisition, exploration and development of mineral properties. The Company focuses 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, http://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