Updated: 2014-10-24 - 15:59:00
UC Resources Symbol: UC.V
UC Resources Ltd. ("UC" or the “Company”, TSX-V: 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,
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.