UC Resources Prepares for Hard Rock Mining at its La Yesca Facility
December 30 2013 - 7:30PM
Marketwired
UC Resources Prepares for Hard Rock Mining at its La Yesca Facility
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 30, 2013) - UC
Resources Ltd. ("UC" or the "Company") (TSX-VENTURE:UC) -
UC Resources reports that mill operations at the Company La
Yesca site have been closed during the Christmas holiday season and
will be kept on temporary hold in a state of care and maintenance.
In the new calendar year the Company will prepare for Hard Rock
mining at its Xora Concession. With reducing silver prices and the
grade that exists within the tailings on site, it has been
determined that a concentration on the higher grade material is the
best choice for Company profitability. The Company cannot continue
to consistently lose capital though arduous efforts in an attempt
to get mill operations running effectively, using the existing feed
at the La Yesca location. The Company has not been able to run the
mill at La Yesca profitably and with poor precious metal market
conditions, depressed gold and silver pricing and lower recoveries
from the tailings themselves, Company focus has shifted to the
higher grade hard rock material.
The Company is currently negotiating on a debt facility which
would allow hard rock mining to commence on site. The Company may
also pursue joint ventures to obtain hard rock mining expertise and
is exploring all other options with its other properties. The
Company will also look at additional financing choices and Company
structure as it continues in the upcoming year. In order for the
Company to operate effectively it will require additional
financings this upcoming year.
UC Resources Ltd. 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.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
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.
UC Resources Ltd.Gary MonaghanChief Executive
Officer778-478-9530monaghan@ucresources.netwww.ucresources.net