UC Resources Updates Production at La Yesca Mill
April 26 2011 - 8:00AM
Marketwired
UC Resources Ltd. (TSX VENTURE: UC) (UC or Company) is pleased to
update activities from its La Yesca mill operations in Nayarit
State, Mexico.
For the first 24 days of April, the mill at La Yesca has
provided precipitate in both quality and quantity that once smelted
to gold and silver dore have provided a positive cash flow position
for the entire Mexican operation for the first time in UC Resources
Ltd. history. The month of March saw progressive improvement in
operations as testing continued with further mill changes being
made that resulted in cash flow improving on a weekly basis.
Neither optimal projected tonnes of throughput nor optimal
recovery have been obtained as of the April 16, 2011. However, cash
from operations during this period are greater than the entire
Mexican operational costs. Over the course of the next quarter we
expect to significantly increase both tonnes processed per day as
well as increasing recovery rates which should result in
significant increase cash flows with the objective of declaring of
commercial production.
The mill has tested as high as 250 tpd but is presently running
at approximately half that rate as the company continues to
evaluate the latest production success. As stated above, the
company will be ramping up the throughput rate in a progressive
manner to optimize the milling operations and continuing to focus
on recovery rates which still have significant room for
improvement. The company will make every effort to keep
shareholders apprised of developments and remains focused on a
successful announcement of commercial production.
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 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.
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 property 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.
Contacts: UC Resources Ltd. Damien Lowry 1-800-366-8566
604-608-6163 (FAX) www.ucresources.net
UC Resources Ltd. (TSXV:UC)
Historical Stock Chart
From Nov 2024 to Dec 2024
UC Resources Ltd. (TSXV:UC)
Historical Stock Chart
From Dec 2023 to Dec 2024