CORAL SPRINGS, Florida, September 19, 2013 /PRNewswire/ --
Thursday morning's news updates for active precious metals mining companies as Gold and Silver continue to trend higher: US Precious Metals, Inc. (OTCQB: USPR), Barrick Gold Corporation (NYSE: ABX), IAMGOLD Corp. (NYSE: IAG), Silver Standard Resources Inc. (NASDAQ: SSRI) and Harmony Gold Mining Company Limited (NYSE: HMY).
US Precious Metals, Inc. (OTCQB: USPR) Headline: US Precious Metals Inc. Announces The Successful Completion of Phase 1 Satellite Imaging on 2,134 Acres of Its Mexican Property. in conjunction with its Joint Venture partners Mesa Acquisition Group LLC/Alba Petroleos De El Salvador Sem De Cv, is pleased to announce the successful completion of Phase 1 Satellite Imaging under the Joint Venture agreement. The imaging was carried out by Consorcio de Tecnologias Avanzadas de Columbia Ltda. and ENCO Petroleum Ltd, Bogota Columbia. The imaging technology was developed in the Ukraine and employs a satellite operated by the Russian Space Agency. A high spectrum, UV laser calibrated to detect exclusively gold mineralization is beamed to the target site. The technology captures repetitive images detecting responses to the UV laser on mineralized fields (in this case, gold mineralization). These responses (or anomalies) are processed and mapped to identify the volumetric intensity (grade level) and size of the various anomalies..
To read the entire press release, please go to http://www.fnmprofiles.com/profiles-uspr.php
The satellite imaging covered 2,134 acres of the Company's 37,000 acres. The purpose of the imaging was twofold: (1) to confirm existing geology developed by Mr. David Burney, USPR's geologist through 2 drilling programs and on-site mapping and sampling, and (2) to identify further areas of potential interest, if any. The Company believes that both goals were achieved with this imaging program. The satellite imaging identified 27 gold anomalies, a number of which also showed high intensity levels. A total of 217 surface acres were identified by the 27 anomalies. Mr David Burney, USPR's Geologist stated: "I am very pleased with the results of Phase l of the satellite imaging and surprised by the number of anomalies. Many of the mineralized zones we have previously identified from mapping and drilling were identified by the satellite imagery as anomalies. The fact that the satellite imagery identified anomalies in known areas of mineralization creates a level of confidence in this technology."
FNM Sector Commentary: Gold Indexes continued to show gains of late as PowerShares Global Gold & Precious Metals (NASDAQ: PSAU) Fund Closed Up on Wednesday (09/18/2013) at $23.40 or 6.17 increase. The Fund seeks investment results that correspond generally to the price and yield performance of the index called the NASDAQ OMX Global Gold and Precious Metals Index. The Fund will invest at least 90% of its assets in securities that comprise the Underlying Index and ADRs and GDRs based on the securities in the Index.
Barrick Gold Corporation (ABX) engages in the production and sale of gold and copper. It is also involved in exploration and mine development activities. The company holds interests in the producing gold mines, which are concentrated in North America, South America, and Australia Pacific; producing copper mines located in Chile and Zambia; and a mine under construction is located in Saudi Arabia. ABX closed up at the closing on Wednesday (09/18/2013) 9.71% on over 32.4Million shares traded.
IAMGOLD Corp. (IAG) engages in the exploration, development, and operation of mining properties. Its products include gold, silver, niobium, and copper deposits. The company holds interests in five operating gold mines, and a niobium mine, as well as exploration and development projects located in Africa and South America. IAG closed up at the closing on Wednesday (09/18/2013) 9.68% on over 15.8Million shares traded.
Silver Standard Resources Inc. (SSRI) engages in the acquisition, exploration, development, and operation of silver-dominant mineral properties principally in the Americas. It primarily explores for silver, zinc, gold, and lead deposits. The company's principal project include the Pirquitas Mine, an open-pit mine comprising 50 semi-contiguous mineral exploration concessions covering a total area of 3,621 hectares in the Puna de Jujeña region of northwestern Argentina in the province of Jujuy. SSRI closed up at the closing on Wednesday (09/18/2013) 11.38% on over 3.9Million shares traded.
Harmony Gold Mining Company Limited (HMY) engages in the exploration, extraction, processing, and smelting of gold in South Africa and Papua New Guinea. The company has approximately 10 underground operations; and various surface operations, including an open cast mine and 9 processing plants, which are located in goldfields in the Witwatersrand basin of South Africa, as well as the Kraaipan Greenstone Belt. It also explores for silver, copper, and molybdenum through its Papua New Guinea projects. HMY closed up at the closing on Wednesday (09/18/2013) 14.13% on over 8.2Million shares traded.
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