UC Resources Hires Senior Geologist and Provides Update
March 20 2012 - 9:30AM
Marketwired Canada
UC Resources Ltd. ("UC" or the "Company") (TSX VENTURE:UC) is pleased to provide
this information update to its shareholders, stakeholders and interested
parties.
The company has hired Gerado Tarin Zapata as its Senior Geologist. Mr. Zapata
has over 20 years of experience including 6 years at the Dolores project, which
included exploration of the epithermal - hydrothermal ore deposit resulting from
the Sierra Madre volcanics.
His experience is of value to UC as the company initiates its mapping, channel
sampling and imminent drilling program on the XORA and La Pinta concessions,
closely adjacent to the La Yesca mill operations. The XORA claim and the La
Pinta claim are both within 2 kilometres of the La Yesca mill site and it's the
company's intention to eventually provide new feed to extend mill life at our La
Yesca production facility. UC management wishes to welcome Mr. Zapata to the
company.
Mill upgrades have been initiated at La Yesca and management has already
witnessed some improvements in processing of material. Equipment has been
ordered for the completion of the upgrade and project implementation and
installation is underway.
In addition UC Management has completed some personnel changes at the La Yesca
mill with the primary change being the replacement of the mill manager.
New precipitate handling and smelting procedures have also been implemented. As
upgrades are completed and mill operations are improved to maximize run rates,
it is very important that management can trust every element of the smelting and
recovery process. The procedures have been implemented to ensure that this is
the result and help move the company to commercial production status.
With the focus on Mexico the company believes that excellent project/property
opportunities will arise. We are currently evaluating new projects with the
intention of enhancing shareholder value. UC Resources has sufficient capital
reserves to be able to selectively choose those opportunities that will best
suit the company and its plan to acquire near term production assets and grow
the company.
UC Resources is an active explorer and producer of precious metals in Mexico.
On behalf of the Board of Directors,
Gary Monaghan, Chief Executive Officer
We seek safe harbour.
Investors or interested parties are invited to visit the UC Resources Website at
http://www.ucresources.net - where they can choose to join the opt-in e-mail
list to receive all future press releases and updates in real time.
This news release includes certain forward-looking statements or information.
All statements other than statements of historical fact included in this
release, including, without limitation, statements relating to the potential
mineralization and geological merits of the La Yesca properties and other future
plans, objectives or expectations of the Company are forward-looking statements
that involve various risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and future events
could differ materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from the Company's
plans or expectations include risks relating to the actual results of current
exploration activities, fluctuating gold prices, possibility of equipment
breakdowns and delays, exploration cost overruns, availability of capital and
financing, general economic, market or business conditions, regulatory changes,
timeliness of government or regulatory approvals and other risks detailed herein
and from time to time in the filings made by the Company with securities
regulators. The Company expressly disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result of new
information, future events or otherwise except as otherwise required by
applicable securities legislation.