HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"
NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)
Message: UC news!
Posted by: AGORACOM on July 28, 2008 09:30AM UC Resources Ltd.
NEWS - UC Resources Plans to Drill McFaulds
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 28, 2008) - UC Resources Ltd. ("UC" or "the Company") (TSX VENTURE:UC) is pleased to provide the following updates.
UC Resources is pleased to announce that the Company has signed a management contract with Billiken Management Services of Toronto, this includes a 2500 metre initial drill program. Billiken will be responsible for all exploration activities in the James Bay Lowlands "Ring of Fire" exploration program including line cutting, geophysics, and drilling. This contract represents the continuation of the UC Resources "Option Agreement" 55% earn-in into the McFaulds Lake East and West property packages of Spider Resources Inc. and KWG Resources Inc.
Line cutting has been completed on seven targets and ground geophysics is currently being completed on the last four of these anomalies. Results from the fist three targets are very encouraging, and two of the three will be drilled as high priority targets with the third being left for a later date.
Final data from the Aerotem survey has now been received and a detailed profile analysis has been completed by Scott Hogg & Associates Ltd. The objective of the analysis was to isolate targets with both the magnetic and electromagnetic characteristics attributable to sulphide mineralization. Based on the results, Hogg and Associates have identified 12 high-priority drill targets as well as 8 intermediate-priority targets. All results from the Aerotem survey have now been received and an analysis of the targets has been completed by Scott Hogg and Associates.
UC, as project operator, plans to commence this drill program during Q3, 2008.
As announced in the January 17, 2008 press release, the La Yesca mill is being totally revamped after a major re-design. It's expected the company will start mill testing and training personnel in August, 2008. There are pictures of the progress available on the UC Resources website and investors are encouraged to view progress at www.ucresources.net. The company remains very optimistic that La Yesca has the potential to be a beneficial venture and certainly is a key component in the strategic development of UC Resources Ltd.
UC Resources is an active explorer of base metals in the McFaulds Lake area, and an explorer and near term producer of precious metals in Mexico.
On behalf of the Board,
Jim Voisin, President & CEO
UC Resources Ltd.
Investors are invited to visit the UC Resources IR Hub at http://www.agoracom.com/ir/UCResources where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence toUC@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's registered filings what are available at www.sedar.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION:
Damien Lowry
Corporate Development
Toll Free: 1-800-366-8566 (Canada & USA)
Website: www.ucresources.net
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