|

UC Resources Trenching and Sampling Expands Gold and Silver Zone at El Cometa – El Refugio – Potential For Major Expansion of Epithermal System at Colpaquin, NW Durnago, Mexico
February 24, 2006
UC Resources Ltd.: Torreon, Coahuila, Mexico/Vancouver, British Columbia; Trading Symbol: UC: TSXV (the “Company”) UC Resources Ltd. Management is pleased to provide an update on the progress of exploration work completed to date on the Company’s 100% owned Copalquin Project located in Durango, Mexico.
As previously announced, an initial program of diamond drilling in 2004 and early 2005 intersected significant gold and silver mineralization across wide intervals at two prospects, the El Cometa and El Refugio, located on either side of a ridge in the central part of the Copalquin Property (see NR dated August 10, 2005). Mineralization exhibits characteristics typical of low sulphidation, epithermal type systems and is localized within a shallow dipping, silicified breccia zone. Based on the potential to significantly expand these mineralized zones the Company bought out the interest of joint venture partner Planet Exploration Ltd. and expanded the land package from 7,000 hectares to over 19,000 hectares (see NR’s dated October 17, 2005 and October 26, 2005).
The Company’s consulting geologists have advised that results of geochemical sampling and trenching carried out in advance of the proposed Stage 2 drill program have clearly demonstrated that the known mineralized zones extend beyond the limits defined by previous drilling.
Initial geochemical soil sampling to the southwest of the El Cometa Prospect returned values of 860 ppb gold (0.86 g/t) and 1,105 ppb (1.10 g/t) and 59.2 and 52.6 ppm silver (1 ppm is equivalent to 1 g/t) from an area located more than 100 meters from any previous drilling. More detailed sampling has defined a 150 meter wide geochemical anomaly which is interpreted as the strike extension of the mineralization that was intersected in the vicinity of the El Cometa prospect. A series of 4 holes has been proposed to delineate the extent of mineralization in this area and to begin delineating the down dip extent of the zone.
Sampling to the west of the El Refugio workings, approximately 150 meters west of the drill holes completed in 2005, has identified a second 150 meter wide geochemical anomaly interpreted to represent the westerly extension of the mineralization that was intersected during the Stage 1 drill program. Samples from within this anomaly generally range from 50 to several hundred ppb gold; however, one sample returned a value of 7.35 g/t gold and 314 g/ton silver suggesting potential for bonanza style mineralization similar to that previously encountered close to El Cometa approximately 700 meters to the east. Trenching is in progress to further delineate the extent of the bonanza grade mineralization in this area and four additional drill holes have been proposed as part of Stage 2.
In addition to delineating extensions of the mineralized zone between El Cometa and El Refugio, sampling to the east and north of El Cometa identified a large geochemical anomaly interpreted as the extension of the mineralized breccia zone to the north of El Cometa. This area is considered important because it is located within 200 meters of the former La Soledad mine which is reportedly the most productive of the historic gold and silver mines at Copalquin. Soil and rock samples collected from within this anomaly returned consistently high values ranging from several hundred ppb gold and several ppm silver to highs of up to 3.32 g/t gold and 62.6 g/ton silver. A previous drill hole by Bell Coast Capital, DDH EC-25, reportedly intersected 49 meters of mineralization in the central part of this anomaly however the drill hole was collared topographically below the upper limit of the geochemical anomaly and may have only partially tested the mineralized zone. Several step out holes are planned in Stage 2 to trace the mineralization to the northwest towards the underground workings at La Soledad.
In summary, results of trenching, sampling and geological work completed during 2006 have extended the strike length of the mineralized breccia zone in the El Cometa – El Refugio area to more than one kilometer. Drilling to date has been concentrated in the immediate vicinity of the historic workings in the EL Cometa area; however, available data clearly shows that the mineralized zone is open to expansion along strike and down dip. Drill contracts have been signed and Stage 2 drilling is now scheduled to commence in late March.
In addition to the mineralization identified in the El Cometa – El Refugio area there appears to be potential to expand the overall size of the epithermal system identified at Copalquin. Historic reports describe similar, breccia hosted mineralization at the Los Reyes Prospect, (approximately one kilometer to the east) and satellite imaging data has identified several areas (which exhibit the same clay alteration signature that is associated with mineralization in the El Cometa area) within the new concession three kilometers to the west of El Refugio (see NR dated December 15, 2005). Geological work is in progress to evaluate the potential of these areas. A schematic 3D view of the El Cometa – El Refugio area, the new target areas that have been identified for drill testing in Stage 2, the Los Reyes area and the clay alteration zones identified from satellite imagery is available on the Company’s website at www.ucresources.net.
The technical information contained in this release was prepared by Carl von Einsiedel, P.Geo., a "qualified person" within the meaning of National Instrument 43-101 for the Copalquin Project.
Based on the potential to significantly expand the size of the mineralized epithermal system identified at Copalquin, management believes the project warrants a major exploration program. Like many of the other success stories in the Sierra Madre, Copalquin has a history of gold and silver production going back hundreds of years and the work presently being carried out by UC represents the first modern, systematic exploration in this district. UC’s focus is solely in Mexico and the Company is actively searching for additional quality assets so that UC can become a producing gold and silver exploration and development company in 2006.
Richard J. Hamelin, President/Director
For further information:
William Elston, VP Corporate Development
#1000, 355 Burrard Street Vancouver, B.C. V6C2G8 Canada
Toll Free: 1-800-366-8566 (Canada & USA)
Website: http://www.ucresources.net/
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company’s registered filings what are available at www.sedar.com.
|