UNCN - Mining Starts At the Deer Trail Mine: UNICO Files Plan of Operations With MSHA
MAGALIA, Calif.--(BUSINESS WIRE)--March 6, 2001--UNICO, Incorporated (Arizona) (OTCBB:UNCN - news) is pleased to report that mining operations have commenced at the Deer Trail Mine in Marysvale, Utah. On February 28th, 2001 UNICO submitted its Proposed Plan of Operations for the Deer Trail Mine with the U.S. Department of Labor Mine Safety and Health Administration (MSHA). The Plan of Operations states: ``Underground mining will be from the 3400 Area of the mine. This area has adequate ventilation, compressed air service lines, electrical power and escape to the surface through a secondary escape shaft.'' On Monday, March 5, miners entered the PTH Tunnel to start cleaning and clearing the stopes designated for initial production. By the end of this week, UNICO expects to be stockpiling ore for the first mill run scheduled for the week of March 26th.
In addition to the favorable logistics of the existing infrastructure inside the PTH Tunnel, several important factors influenced UNICO's decision that the 3400 Area offered the best possibility for an economic ore body:
1. UNICO will be continuing to mine the same ore body in the 3400
Area that historically produced documented values of 16 opt Ag,
0.19 opt Au, 3.5% Pb and 6% Zn.
2. In the 1980s, work was done in the 3400 Area to delineate a
mineral resource of 30,000 tons.
3. UNICO has conducted numerous in-house assays of samples taken from
the 3400 Area that have confirmed the documented values from past
production.
UNICO expects to start operations and quickly build up production tonnage as the miners become familiar with the deposit and mining plan. The milling facility will also proceed in a measured fashion and increase capacity as soon as the process is worked through. Specific tonnage numbers and grades will be announced as the mining operation develops.
For more information and up to date photos visit UNICO's web site at uncn.net or contact Mr. Ray Brown at:
UNICO INC. PO Box 777 Magalia, CA 95954 or Telephone 530/873-4394
This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The company may experience significant fluctuations in operating results due to a number of economic, competitive and other factors. These factors could cause operation results to vary significantly from those in prior periods, and those projected in forward-looking statements. Information with respect to these factors which could materially affect the company and its operations are included on certain forms the company files with the Securities and Exchange Commission.
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Contact:
UNICO INC.
Ray Brown, 530/873-4394 |
