Unique Resources Corp.
TSX VENTURE : UQ

November 28, 2012 17:05 ET

Unique Resources Provides 2012 Work Program Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 28, 2012) - Unique Resources Corp. (TSX VENTURE:UQ) ("Unique" or the "Company") provides an update to shareholders regarding the 2012 Phase 1 Exploration Program at its Lucifer Project, (the "Property"), located in the Iskut River District in north-western B.C. This area of B.C. is generally referred to as the "Stikine Arch" and is considered prospective for large tonnage, alkalic copper-gold porphyry deposits.

The Property consists of ten contiguous mineral claims comprising 3,850.4 hectares located approximately 50 kilometers east of the Galore Creek Project (which is one of the largest undeveloped alkalic type porphyry copper gold deposits in North America), owned by NovaGold Resources Inc. in partnership with Teck Resources Limited. Alkalic porphyry copper-gold deposits in north-western B.C. are generally related to north and northeast trending fault zones within Triassic aged volcanic and intrusive complexes.

Previous exploration work carried out over parts of the Property by Noranda Inc. in 1990 identified a high priority target area that was defined by several widely spaced soil and rock samples in the east central part of the present Property. Follow up, contour based soil sampling by Unique during 2011, confirmed the presence of strongly anomalous gold values in soils within the area of interest identified by Noranda Inc. An anomalous zone was then defined approximately 250 meters in width and 300 meters in length which returned gold values ranging from 0.100 g/t to 1.321 g/t gold. This zone is interpreted as the outcrop of a strongly altered and mineralized, northeast trending structural corridor or shear zone that may represent a gold rich, pyritic halo on the periphery of a large porphyry system.

The main objective of the Company's 2012 Phase 1 work program, as recommended in an independent 43-101 technical report dated November 8, 2011, authored by G.Nicolson PGeo. entitled "Review of Technical Information and Proposed Exploration Program for the Lucifer Project", was to assess this high priority target by completing a detailed program of geological mapping, overburden sampling and rock sampling. A total of 640 soil samples and 35 rock samples were collected from the area of high gold values defined in 2011 and potential extensions of this zone towards a second target area referred to as Gold anomaly No.2. Rock samples were collected at 10 meter intervals along 25 meter spaced, east - west oriented grid lines and channel samples were collected from all exposed bedrock within the grid area. The results from this exploration program and the results from the sampling programs completed by Noranda in 1990 and by Unique during 2011 are being combined into a single database to delineate priority areas for trenching and if warranted follow-up drill testing.

All samples from the current exploration program are being analyzed at the ALS Laboratory Group facility in North Vancouver. Samples are analyzed by fire assay for gold (Au-ICP-AES finish) and for a suite of 35 elements using aqua-regia digestion and standard ICP-AES techniques. ALS includes duplicate and industry standard analyses as part of its internal QA and QC program. The ALS Laboratory Group QA and QC provisions are considered adequate for the current program and no additional measures were implemented.

Final assay results from the 2012 exploration program are expected in January 2013.

George Nicholson, P.Geo., is the Qualified Person that is responsible for the technical content of this press release. For additional information, refer to 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.

ON BEHALF OF THE BOARD

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
    CEO, President, Secretary and Director
    1-604-569-2963
    1-604-568-0945 (FAX)