Unique Resources Corp.

June 01, 2012 14:00 ET

Unique Commences Summer 2012 Work Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 1, 2012) - Unique Resources Corp. ("Unique" or the "Company") (TSX VENTURE:UQ) announces that it has commenced mobilizing field personnel to carry out the Stage 1 Exploration Program on the Lucifer Property (outlined in the Company's Prospectus dated February 6, 2012). The Lucifer Property consists of ten contiguous mineral claims comprising 3,850.4 hectares located in northwestern British Columbia approximately 50 kilometers east of the Galore Creek Project developed by NovaGold Resources Inc. in partnership with Teck Resources Limited. The recently constructed access road to the Galore Creek Project has significantly improved long term project logistics.

According to the British Columbia Geological Survey ("BCGS") alkalic porphyry copper - gold deposits in northwestern British Columbia are generally related to north and northeast trending fault zones within Triassic aged volcanic and intrusive complexes. The Lucifer Property claims were originally staked in 2005 to cover what is believed to be a previously unexplored segment of one such structural corridor. The eastern part of the Lucifer Property was previously held by Noranda Inc., and according to a historical technical report prepared for Noranda entitled "Geological, geochemical and geophysical report on the Lucifer Property" and dated February 1991, Noranda identified a high priority target area consisting of several widely spaced soil and rock samples that returned strongly anomalous gold values ranging from 670 ppb gold (0.670 g/t gold) to 1,240 ppb gold (1.240 g/t gold).

Between July 1 and August 15, 2011 consultants for Unique reviewed all available technical data for the Lucifer Property area and completed a systematic sampling program designed to confirm the high gold in soil values reported by Noranda (1991), and delineate the extent of the anomalous zone. It is important to note that an extensive "gold in soil anomaly" located approximately two kilometers north of the Lucifer Property on an adjoining property (referred to as the Voigtberg property) has been interpreted as a pyrite - gold halo associated with a porphyry system, and that follow up exploration work was recommended to test the extent and grade of this anomalous zone. On the Lucifer Property a total of 530 samples were collected over an area of approximately 800 meters by 400 meters. One hundred and fifty seven of the samples collected returned anomalous gold values greater than 100 ppb (equivalent to 0.100 g/t gold). Anomalous gold values ranged from 0.100 g/t to 1.321 g/t gold with spot highs of up to 3.383 g/t gold.

The results of the 2011 field program on the Lucifer Property confirmed the presence of strongly anomalous gold values in soils in the area identified by Noranda and have defined an anomalous zone approximately 250 meters in width and 300 meters in length. This zone is interpreted as the outcrop of a strongly altered and mineralized, northeast trending structural corridor or shear zone. No previous systematic exploration work appears to have been carried out in the area of the anomalous soil samples and potential extensions of the zone to the south do not appear to have been tested.

The proposed Stage 1 Program will consist of detailed geological mapping, rock sampling and hand trenching to determine the source of the strong "gold in soil anomaly" identified in 2011 and to determine the source of strongly elevated gold values in float samples and stream samples reported by Noranda and other previous operators in the east central part of the Lucifer Property.

George Nicholson, P.Geo., is the Qualified Person that is responsible for the technical content of this press release. See the technical report prepared by Mr. Nicholson for the Company dated November 8, 2011 and entitled "Review of Technical Information and Proposed Exploration Program for the Lucifer Property", which is available on the Company's SEDAR profile at www.sedar.com.


Gary Freeman, CEO, President, Secretary and Director

This press release includes "forward-looking statements" including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Unique Resources Corp. Statements regarding mineral exploration operations and objectives are subject to risk, including, but are not limited to, exploration and geologic risk, inflation and costs of goods and services, property title issues and regulatory approvals. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Unique Resources Corp. does not assume the obligation to update any forward-looking statement, except as required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Unique Resources Corp.
    Gary Freeman
    1-604-568-0945 (FAX)