UC Resources Ltd.
TSX VENTURE : UC

UC Resources Ltd.

June 13, 2007 12:06 ET

UC Resources Intersects La Soledad Mineralized Zone Over 5.9 Meter Core Length at Copalquin Property, Durango Mexico

TORREON, COAHUILA, MEXICO and VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 13, 2007) - UC Resources Ltd. (the Company) (TSX VENTURE:UC) is pleased to announce that the drilling program on its Phase III exploration program at Copalquin is nearing completion. Management has been advised by the Company's Copalquin project geologist, as well as two additional geological consultants, that the 2007 diamond drilling program at the La Soledad Prospect, on a section located approximately 42 meters west of previously reported drill hole 2006 - MP-007, has thus far intersected 5.9 meters of a tectonic quartz/vein breccia mineralized zone with observed native gold, native silver, argentite and pyrite, including a stockwork quartz vein system in fine grained andesite tuff. The initial 1.45 meters contains visible gold and silver.

Patrick Chance, M.Sc., P.Eng., a Canadian geologist, with 40 plus years in the Canadian mining industry with significant experience in Cordilleran epithermal gold environments, was asked to review hole MP-07-101. Hole MP-07-101 is situated in a barranca, approximately 42 m west of MP-7 et al completed in 2006. The hole was designed to test the west strike extension of the La Soledad vein system. The company believes that the results of this hole are material and should be included in a NI-43-101 report currently being completed by Mr. Chance. Mr. Chance describes the initial 1.45 meter intersection of this mineralized zone as a tecto-epithermal quartz breccia, with banded quartz containing angular andesite clasts. Native gold occurs as disseminations and flakes, as well, native silver (up to 0.5 cm pieces of silver) and argentite (silver sulphide) is evident in the core over the 1.45 meter interval between 138.1 meters to 139.55 meters. The next 0.9 meter portion (139.55 to 140.45 m) of the observed mineralized zone, is described by Mr. Chance, as a quartz chlorite vein breccia, consisting of 1 - 2 cm rounded quartz vein fragments in pale green, fine grained chloritic matrix, locally containing patches of argentite and pyrite. This section is then followed by a 4 meter section (140.55 to 144 m) of chloritic andesite. This latter interval is cut by a quartz silica-andularia stockwork containing fine grained disseminated pyrite and patches of very fine-grained argentite. Drilling was interrupted by mechanical problems but has since resumed. Samples have been selected, cut and are being delivered to the ALS Chemex preparation laboratory in Guadalajara, Jalisco. Results will be released as they become available.

La Soledad prospect is a former mine that probably operated from the mid-nineteenth to the early twentieth century. The mineralized zone outcrops in an open cut at 1104 m (above sea level) and was developed on four underground levels (1100, 1043, 976 and 950 m). A long-section prepared circa-1935 (Wilkins, 1997) depicts a single 35 to 75 m wide stope extending approximately 140 m down-dip. Wilkins (1997) reports an average mined historic grade in the order of 50 g/t Au and 2,300 g/t Ag. The company is seeking historic reports to confirm and detail historic production from the area.

The June 2006, drill hole MP-06-07, drilled by UC Resources Ltd., (assays previously announced July 20, 2006) reported 44.6 g/t gold (1.30 ounces per ton gold) and 1,564 g/t silver (45.6 ounces per ton silver) over 5.15 meters core length. A 1.75 meter higher grade section within this interval reported 112.8 g/t gold (3.29 ounces per ton Au) and 4,337 g/t silver (126.5 ounces per ton Ag). The mineralized interval comprised a clear quartz matrix containing, silicified andesite clasts. Ore minerals include native gold, argentite and acanthite (silver sulphide mineral). Polished sections show generally fine grains of native gold, often adjacent to chalcopyrite. Relationships observed in the core suggest progressive replacement of andesite clasts by silica. The previous hole, MP-06-06 entered old mine workings and was lost.

2006 Diamond Drilling Program Update

Holes completed in 2006 and early 2007 were drilled from a single platform situated near the northeast limit of historic mining based on extant drawings. In late 2006, UC Resources designed two holes to trace in situ mineralization below and to the east of hole MP-06-07. The initial undercut hole MP-001A was lost at 105 meters due to bad ground. MP-001AA was drilled from the same location and parallel, reached 149.35 meters but failed to intersect mineralization, suggesting that the downdip extension of the main vein is cut by a steep EW trending fault structure.

2007 Diamond Drilling Program Update

In March, 2007, hole MP-002A was drilled vertically to undercut hole MP-001AA, but was abandoned in bad ground at 138 meters.

Hole MP-004A (azimuth 220 degrees, dip -70 degrees) and designed to cut the structure 25 m west of MP-06-07, returned 6.93 g/t gold over 4 m (112 to 116 m) before entering historic workings.

Hole MP-005 (azimuth 220 degrees, dip -60 degrees, 155.45 m) cut silicified andesite, believed to be on the fault encountered in hole MP-001AA. This silicified zone has been sampled and submitted for assay; results are pending.

MP-006 (azimuth 180 degrees, dip -70 degrees, 100 m) designed to trace the mineralized zone to the east but was abandoned in bad ground. Hole MP-006A (azimuth 180 degrees, dip -70 degrees, 118.3 m) also encountered a silicified interval, possibly adjacent to the fault zone. The altered zone has been sampled and submitted for assay; results are pending.

The technical information contained in this release has been reviewed and approved by Patrick Chance, M.Sc., P.Eng., who is an Independent Qualified Person and consultant to UC Resources Limited. Neil D. Novak, P.Geo., has prepared and has also approved this release, Mr. Novak is a Qualified Person, and is Vice President of Exploration for UC Resources Limited.

The Company is pleased with the results of its current drilling program at Copalquin, and expects to continue drilling and regional exploration to the end of June and to resume exploration in late August or early September after the rainy season in this part of Mexico.

On behalf of the Board of Directors of UC Resources Limited,

Richard J. Hamelin, President/CEO/Director

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

  • UC Resources Ltd.
    Brian Gusko, MBA
    Assistant to the President & Director of Administration
    (604) 681-7265 or Toll Free: 1-800-366-8566 (Canada & USA)
    (604) 608-6163 (FAX)
    Website: www.ucresources.net