A Milestone for U.S. Precious Metalsadmin
U.S. Precious Metals, Inc. CEO and Chairman of the Board, M. Jack Kugler, announced today that the Environmental Impact Statement submitted in late May 2008 to the Semarnat, Mexico’s agency for regulating the mining industry, has been approved. The approval gives USPR the right to mine and process mineralized material on our concession in La Sabila, located in Michoacan state. This is within the main operating zone. The approval will allow USPR to build new roads and better evaluate drilling targets that were previously inaccessible. The approval is a leap forward by the Mexican government in evaluating USPR’s ability to provide a clean and environmentally friendly mining operation and a milestone for USPR.
Drilling continues to intersect mineralized material with nine drill holes completed to date. Holes 5, 6, 8 and 9 have intersected mineralized intercepts that are believed to be the same mineralized horizons. Computer modeling is being completed and drilling is continuing based on defining this mineralized zone. Hole number 7 is currently in progress and the first drill hole designed to explore deep targets.
In other USPR news, the assay and metallurgical lab currently under construction is progressing. The ventilation system is being installed and lab equipment is on order. The USPR staff is expecting to have the Lab fully functional within 60 days. The purpose of the lab is to assay all USPR exploration mineral samples and conduct metallurgical testing. Core samples will continue to be assayed by an independent assayer to maintain the integrity of the drilling campaign and the sampling process.