Looks like we already have a jv with cliffs and our man Moe Lavigne is in charge--Can you read between the lines--polly
Jul. 28, 2011 (Marketwire Canada) --
VANCOUVER, BRITISH COLUMBIA -- UC Resources Ltd. (TSX VENTURE:UC), as operator, is pleased to announce that it has mobilized a diamond drill to its McFaulds Lake property and has begun drilling the first of two deep holes of an 1600 metre program. The drill targets are located in an unexplored portion of the property where previous airborne surveys did not detect any electro-magnetic anomalies, even though the interpreted underlying geology is favourable with respect to a number of mineral deposit types discovered in the "Ring of Fire" to date.
The drill program is based on a recently completed airborne gravity and magnetics survey conducted by Fugro Airborne Surveys and interpreted by Scott Hogg & Associates, plus a ground based gravity survey conducted this spring. Gravity highs coincidental with magnetic anomalies are the drilling targets. Visual results will be released if warranted during the course of the program and assays completed as soon as possible.
UC Resources Ltd. has earned a 55% interest in the property from an option agreement with KWG Resources Inc. (TSX VENTURE:KWG) and Spider Resources Inc., which is a 100% owned subsidiary of Cliffs Natural Resources Inc. This project is a joint venture between these parties. Project management for this program is being conducted and overseen by M.J. (Moe) Lavigne, P.Geo., Vice President Exploration and Development, KWG Resources Inc., with support from Webequie Logistics.
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, plus an explorer and producer of precious metals in Mexico.