UC Resources News - Intersects High Grade Gold and Silver
Posted: Thursday Jul 20 10:10:10AM 2006
UC Resources Ltd. Intersects High Grade Gold and Silver Upon Completion of Phase II Drilling at Copalquin TORREON, COAHUILA, MEXICO and VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 20, 2006) - UC Resources Ltd. (TSX VENTURE:UC) (the "Company") Management is pleased to provide assay results for DDH 06-07 from the Copalquin Property in Durango State, Mexico. The Copalquin property comprises more than 64,000 hectares in area and covers all of the historic mine workings in the former Copalquin Mining District. As reported June 27, 2006 DDH 06-07 was designed to test whether or not the mineralized zone that was developed by the former La Soledad Mine (circa 1900) continues at depth below the existing mine workings. DDH 06-07 is the first drill hole ever completed below the mine workings at La Soledad and no attempt has ever been made to test potential strike extensions of the zone. The drill hole, which is believed to have been drilled approximately 15-20 meters below the existing mine workings, encountered a 5.15 meter wide mineralized zone containing quartz, silicified andesite breccia, native gold and acanthite (silver sulfide mineral). The mineralized zone averaged 44.6 g/t of gold (1.43 ounces/tonne), and 1,564 g/t silver (50.29 ounces/tonne). Within this zone there is a 1.75 meter wide section that averaged 112.8 g/t gold (3.63 ounces/tonne) and 4,337 g/t silver (139.45 ounces/tonne). The true width of the mineralized zone is believed to be approximately 95% of the reported interval. Assays from within the mineralized zone are as follows: Depth (meters) Gold g/t Silver g/t 111.60 to 112.78 7.4 209 112.78 to 115.00 2.8 100 115.00 to 115.50 86.7 2,500 115.50 to 116.00 199.0 7,820 116.00 to 116.75 94.5 3,240 Assay intervals from DDH 06-07 were selected by independent consulting geologist James McGlasson from IMDEX Inc. based in Tucson Arizona. All assays were performed by ALS Chemex at their facility in North Vancouver, B.C. The technical information contained in this release was prepared by Carl von Einsiedel, P.Geo. who is the qualified person for Copalquin pursuant to the requirements of NI 43-101. Management is awaiting results from holes DDH 06-04, and DDH 06-05 to complete its summary report of the program. Upon receipt of these results, management will evaluate all of the data it has at its disposal and will prepare a budget and exploration plan for Phase III of its program. Drill crews are being assembled at this moment to man the two drills that the Company recently purchased, and drilling is expected to resume in late August or early September of this year. Results from initial drilling clearly demonstrate that the mineralized zone at La Soledad continues below the existing mine workings. Based on results of this stage of exploration, management has approved expanding the proposed Stage 3 program at Copalquin to include extensive additional drill testing at La Soledad.