UC Resources Ltd.

UC Resources Ltd.

October 06, 2009 11:18 ET

UC Resources Prepares for More Drilling in McFaulds Lake Property Package

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 6, 2009) - UC Resources (TSX VENTURE:UC) would like to advise that JVX Geophysics Ltd has mobilized a field crew to the James Bay Lowlands, in the area known as the "Ring of Fire", where UC has the right to earn up to 55% of the McFaulds East and West blocks currently held by Spider Resources Inc. (TSX VENTURE:SPQ) and KWG Resources Inc. (TSX VENTURE:KWG) which encompasses some 31,000 hectares. As previously announced on August 27, 2007, UC advised Spider and KWG that it had completed the third year spending commitment on the McFaulds Lake option agreement and delivered unaudited proof thereof to them. Spider and KWG are currently in the 45 day review period to approve the expenditures and confirm UC's earn in level to 40%. The ground geophysical survey consisting of Time Domain Electromagnetics (TDEM) and MaxMin will be targeting two high priority targets on the McFaulds West property that are in close proximity to a previous drill hole location from August 2009. These targets are situated directly within a highly magnetic "Bull's-Eye" structure situated along a linear magnetic feature that was outlined by previous Aerotem and VTEM surveys, as well as our recent ZTEM survey. The near surface targets are highly conductive and situated directly over a deeper target of lower conductance that has been traced by ZTEM for greater than ten kilometers in length and up to three kilometers in width.

Initially MaxMin ground electromagnetic testing will be conducted over these two anomalies in an effort to better identify their location in preparation for immediate shallow drill testing. A second deep penetrating loop EM (TDEM) will then be conducted over what is thought to be a shallower area of the larger deeper conductor in an effort to identify both location and depth of the much deeper and larger anomaly. It is hoped that these two EM surveys will identify if the shallower and deeper anomalies are connected and then a decision on drilling the deeper anomaly will be based on both of the geophysical responses, as well as results from the shallower drilling.

Final assay results from our recently completed three hole drill program have not been received as of yet as some expanded assays were requested based on initial results.

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 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.
    Damien Lowry
    Vancouver Head Office
    Toll Free: 1-800-366-8566 (Canada & USA)