UC Resources Ltd.

UC Resources Ltd.

August 04, 2009 09:13 ET

UC Resources has Commenced Drilling at McFaulds Lake

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 4, 2009) - UC Resources Ltd. ("UC" or "the Company") (TSX VENTURE:UC) is pleased to provide the following update.

Under contract by UC Resources Ltd., Billiken Management has begun to drill their McFaulds Lake project in the James Bay Lowlands area of Ontario where UC Resources has the right to earn up to 55% of the McFaulds East and West blocks currently held by Spider Resources Inc. (Spider) and KWG Resources Inc. (KWG) which encompasses some 31,000 hectares. As a result of recent extensive geophysics data collection and analysis the company will begin a three-hole drill program to test three anomalies.

Based on historic drilling, two of the anomalies are suspected to be copper/zinc/silver VMS targets situated near the previous McFaulds #6 discovery where the Spider/KWG joint venture has historic 2004 assay results from hole MCF-04-50 of 2.89% copper and 5.28 g/t Silver over 1.65 metres, hole MCF-04-51 of 1.16 g/t Silver and .62 % copper over 1.53 metres, and hole MCF-04-38 which encountered 1.82% copper and 4.3 g/t silver over 3.3 metres plus hole MCF-04-39 which encountered 3.63% copper, .34 g/t gold and 7.1 g/t silver over 1.3 metres. Following the recommendation of James Franklin Ph.D., P.Geo, additional geophysics has been conducted over this area which resulted in the belief that these previous drill targets were drilled to the north west of the main target. Scott Hogg and Associates have recommended two collar locations for these targets which are within one kilometre of the Billiken McFaulds Lake camp.

The third anomaly to be drilled is located on the McFaulds West block some 15 kilometers west of McFaulds #5 and #6 occurrences and approximately 12 kilometres southwest of Noront Resources Ltd. Eagle One discovery. This anomaly hosts a coincident Mag and EM signature situated within a Bull's-eye structure. ZTEM results from this anomaly infer a shallow steeply dipping sheet of conductivity that is continuous over the 2.2 kilometre survey as well as a larger mass of lower conductivity also continuous over the 2.2 kilometer survey area at a depth of 550 meters. The shallow target will be drilled on this round of drilling.

UC Resources continues to evaluate solutions and options for the re-commissioning process of the La Yesca mill located west of Guadalajara, Mexico. The company is committed to this project and considers it a key strategic growth opportunity.

UC Resources also wishes to announce that Brian Gusko has resigned as CFO of the company to pursue other endeavors; Nicole Wood CGA, Honours Commerce has been promoted to acting CFO. UC Resources would like to thank Mr. Gusko for his term of service.

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 a near term 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.

Contact Information

  • UC Resources Ltd.
    Vancouver Head Office
    Toll Free: 1-800-366-8566 (Canada & USA)