RE:UC.V
Press Release Source: UC Resources Ltd.
UC Resources Ltd.: La Yesca Silver and Gold Production Project Start-up Nayarit, Mexico
Thursday December 7, 10:16 am ET
TORREON, COAHUILA, MEXICO and VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Dec 7, 2006 -- UC Resources Ltd. (TSX VENTURE:UC.V - News) (the "Company") is pleased to provide the following information regarding its startup of the La Yesca project, located in La Yesca, in the state of Nayarit, Mexico.
Significant progress has been made to date, and the Company is pleased to state that the work is on schedule and under budget.
All of the major components of equipment have now been installed at the site, which include a ball mill, mixing tanks, solution ponds, and conveyors, as well as all of the necessary buildings and shelters that house the facilities. The remainder of the work that is necessary for completion of the facility is the final hook-ups of the electrical components and the tie-ins of all the relative piping.
This work is currently underway, and the completion of the entire process is scheduled to be terminated by December 22, 2006.
The plant is scheduled to start up on December 27, 2006 at an initial feed rate of 50 TPD.
As can be expected, fine tuning of the process will be necessary during the initial two to three months of operations. Production increases will occur on an ongoing basis and it is expected that the plant will reach a production rate of 200 TPD by the end of February, 2007. Once the mill modifications are complete, it will have an estimated 80% recovery rate for both gold and silver (historical recovery rates are 80% for gold and 50% for silver).
Approximately two hundred twenty five thousand and seven hundred fifty (225,750) tonnes of tailings are available to be processed. The inferred mineral resources of tailings has a grade of 2.0 g/t gold and 220 g/t of silver. The tailings qualify as an inferred resource under NI43-101 compliancy rules and are available for review on the company's website (www.ucresources.net). The upgraded and modified mill will utilize modern technology to enhance higher recovery rates for the extraction of silver.
The La Yesca project consists of a 600 hectare mining concession which includes two previous producing mines. In the immediate La Yesca district there are at least 16 known gold and silver mineral discoveries, of which five are reportedly past producing mines. The La Yesca mining district is underlain by Tertiary age andesite and rhyolite volcanic rocks that are part of the prolific Sierra Madre Occidental mining belt, which hosts numerous epithermal gold and silver mines and mineral occurrences.
UC Resources is committed to a long-term plan for the district, and intends to significantly expand its land holdings.
On behalf of the board of directors,
Richard J. Hamelin, President/Director
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