UC Resources Starts Drilling Program on McFaulds Lake Property
29 July 2011 - 5:16AM
Marketwired
UC Resources Ltd. (TSX VENTURE: UC), as operator, is pleased to
announce that it has mobilized a diamond drill to its McFaulds Lake
property and has begun drilling the first of two deep holes of an
1600 metre program. The drill targets are located in an unexplored
portion of the property where previous airborne surveys did not
detect any electro-magnetic anomalies, even though the interpreted
underlying geology is favourable with respect to a number of
mineral deposit types discovered in the "Ring of Fire" to date.
The drill program is based on a recently completed airborne
gravity and magnetics survey conducted by Fugro Airborne Surveys
and interpreted by Scott Hogg & Associates, plus a ground based
gravity survey conducted this spring. Gravity highs coincidental
with magnetic anomalies are the drilling targets. Visual results
will be released if warranted during the course of the program and
assays completed as soon as possible.
UC Resources Ltd. has earned a 55% interest in the property from
an option agreement with KWG Resources Inc. (TSX VENTURE: KWG) and
Spider Resources Inc., which is a 100% owned subsidiary of Cliffs
Natural Resources Inc. This project is a joint venture between
these parties. Project management for this program is being
conducted and overseen by M.J. (Moe) Lavigne, P.Geo., Vice
President Exploration and Development, KWG Resources Inc., with
support from Webequie Logistics.
UC Resources is an active explorer of base metals and chromite
in the McFaulds Lake area ("Ring of Fire") of the James Bay
Lowlands, Ontario, plus an explorer and producer of precious metals
in Mexico.
On behalf of the Board of Directors,
Jim Voisin, President & CEO
UC Resources Ltd.
We seek safe harbour.
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 to UC@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 news release includes certain forward-looking statements or
information. All statements other than statements of historical
fact included in this release, including, without limitation,
statements relating to the potential mineralization and geological
merits of the McFaulds property and other future plans, objectives
or expectations of the Company are forward-looking statements that
involve various risks and uncertainties. There can be no assurance
that such statements will prove to be accurate and actual results
and future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results
to differ materially from the Company's plans or expectations
include risks relating to the actual results of current exploration
activities, fluctuating gold prices, possibility of equipment
breakdowns and delays, exploration cost overruns, availability of
capital and financing, general economic, market or business
conditions, regulatory changes, timeliness of government or
regulatory approvals and other risks detailed herein and from time
to time in the filings made by the Company with securities
regulators. The Company expressly disclaims any intention or
obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise
except as otherwise required by applicable securities
legislation.
Contacts: UC Resources Ltd. - Vancouver Head Office Damien Lowry
Toll Free: 1-800-366-8566 (Canada & USA)
www.ucresources.net
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