Re: drilling site....ps - luckylou
in response to
by
posted on
Jul 29, 2011 12:13PM
.
You asked........Who is doing the paYING? UC or KWG or CLFs or alll 3.
Based on the following I believe all three and UC remains the Operator.
.
-(April 28, 2011) - UC Resources (TSX VENTURE:UC - News; "UC" or the "Company") is pleased to announce that the Company has reached the 55% ownership level in the East and West block properties in the James Bay Lowlands, Ontario, in the area known as the "Ring Of Fire" ("Project"). These properties are optioned from Spider Resources Inc. ("Spider") and KWG Resources Inc. (TSX VENTURE:KWG - News; "KWG") under an Option Agreement dated March 6, 2009 ("Option Agreement").
The data was submitted as required by the Option Agreement and after review has been accepted by Spider and KWG. As a result, UC now holds an undivided 55% interest in the Project.
UC Resources Ltd., Spider Resources Inc., and KWG Resources Inc. are expected to form a joint venture with UC remaining as operator of the Project.
Have a great long weekend
.......RL