UC
Southwest exploration.
As reported Feb 23, 2009.
In the fall of 2008 UC Resources embarked on a five hole drill program in the James Bay Lowlands area referred to as the Ring of Fire. A banded iron formation was selected as the focus of this drill program in the southwest portion of McFaulds West area. These five holes were selected, based upon the recommendations of both JVX Ltd. and Scott Hogg and Associates Inc., consultants to the project. The holes were prioritized, selected and drilled in a west to east series. Although multiple zones of massive sulphides were intersected, all proved to be essentially barren of significant base metals, only anomalous values of copper, lead and zinc were encountered. Although the holes yielded no significant metal values, the last two holes drilled did encounter evidence of the proximity of a Volcanic hosted Massive Sulphide ("VMS") occurrence. Further gravity geophysics has been recommended to isolate and further define this target. In addition, a further review of the drill logs has revealed that isolated sections of holes 4 and 5, based upon core descriptions reflected a resemblance to chromite. These sections are now being pulled out of storage to be re-assessed with the possibility of re-entering and deepening these two holes if warranted by this review.
NOT
A fifth drill has been mobilized to explore an area located approximately 12 kilometres to the southwest of the Eagle One and Blackbird areas. To date, this drill has completed three holes (NOT-09-1G123, 127 and 134) totalling 904 metres. Drilling continues in this area, testing geophysical targets for their base and precious metal potential.
Now we can add "CLIFFS" to UC, SPQ and KWG
UC Resources Ltd. ("UC") is in a multi-year option agreement where UC can earn up to a 55% interest in the McFaulds JV from Spider Resources Inc. (TSX VENTURE:SPQ) ("Spider") and KWG Resources Inc. (TSX VENTURE:KWG) ("KWG").
Today:
CLEVELAND, OH, April 15 /CNW/ - Further to the press release of Cliffs Natural Resources ("Cliffs") dated March 16, 2009 announcing that its subsidiary, Cliffs Greene B.V. ("Cliffs Greene"), acquired, by way of private placement, certain securities issued from treasury by KWG Resources Inc. ("KWG"),
