VANCOUVER, BRITISH COLUMBIA– UC Resources Ltd. (TSX VENTURE:UC) (“UC”) is pleased to update exploration activities at the Xora claim which is situated three kilometres from the La Yesca mill site.
Drilling has now commenced on the La Colorada vein with an initial three drill locations spotted based on Induced Polarization ground geophysics as well as estimation of the directional geological trend gathered from the La Colorada mine opening some 180 metres from our initial drill target. Both down dip and step out drilling will be conducted should the visual interpretation of the core warrant it.
To date, eight kilometres of mountain road has been constructed to access the top of the XORA claim and the road will continue to be driven to the remaining exploration targets, the El Mirador and Las Cuatas, which are also located near the peak of the Xora Mountain.
The area associated with the three initial drill targets have all historically been mined to varying extents, with La Colorada having a non-compliant 43-101 resources calculation which was compiled by the Mexican Ministry of Mines, by way of wall rock chip sampling, of 11,000 tonnes grading .7 g/t gold and 619 g/t silver.
The initial shallow drilling of these occurrences is intended to give guidance to a deeper and more thorough program with the intentions of building a resource capable of feeding future raw ore material to the La Yesca mill.
The first hole is presently at a depth of 160 metres of a planned 180 metre targeted depth. Of the 160 metres drilled to date, 62 metres has been sent for assay to ALS Chemex, Vancouver, through its prep lab in Guadalajara, Mexico.
Mr. Newton, PGeo, of Billiken Management Services Inc. and a qualified person pursuant to NI 43-101, has reviewed and approved the technical information in this news release on behalf of the company.
UC Resources is an active explorer of base metals and chromite in the McFaulds Lake area (“Ring of Fire”) of the James Bay Lowlands, Ontario, as well as an explorer and a near term producer of precious metals in Mexico.
On behalf of the Board of Directors,
Jim Voisin, President & CEO
UC Resources Ltd.
We seek safe harbour.
Investors are invited to visit the UC Resources IR Hub at http://www.agoracom.com/ir/UCResources where they can post questions and receive answers or review questions and answers already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to UC@agoracom.com where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.
Winn-Dixie Stores Inc. (WINN) reported fiscal 2010 fourth-quarter results after the closing bell on Monday. Net income jumped 48.8% to $14.0 million or 25 cents per share from $9.4 million or 17 cents per share in the year-ago period. Quarterly earnings also surpassed the Zacks Consensus Estimate of 13 cents. The growth in earnings was mainly attributable to an extra week of sales and absence of a significant income tax expense recorded in the year-ago period. (See conference call transcript here.)
