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Unico, Inc.: Unico, Inc. Announces Agreement for Resource Calculation on Tailings and Additional Material at the Deer Trail Min

^{Published on 2009-09-16 07:01:15 - Market Wire}
 

SAN DIEGO, CA--(Marketwire - September 16, 2009) - Unico, Incorporated (OTCBB: [ UNCO ]), a natural resource company in the precious metals mining sector, today announced an agreement with Industrial Minerals Development, Inc. ("IMD") and Professional Geologist Frederic C. Johnson to drill and verify the upper tailings reserves at the Deer Trail Mine in Marysvale, Utah and potentially to conduct reserve verifications on other mine dumps and stockpiles located on the properties owned by the Unico's wholly owned Deer Trail Mining Company subsidiary. The primary focus for the reserve calculations are gold, silver and the potential for tellurium.

In October 2008, Unico announced that the company had received a Final Summary Report and separate Tailings Evaluation from Behre Dolbear and Company (USA) on geological analysis and evaluation completed by Behre Dolbear at the Deer Trail Mine. Included in the recommendations contained in the tailings report was to initiate additional drilling, sampling and analysis of the Upper Tailings Dump as part of the larger plan for exploration, identification of potential reserves, mining, and processing, at the Deer Trail Mine property. The agreement with IMD is another step in following the report recommendations.

Under terms of the agreement, IMD will determine locations for additional drill holes on the tailings from a study of maps, possible re-survey of tailings to determine grids and elevations if necessary, and an onsite GPS location of any existing previously drilled hole locations. During and after drilling operations, IMD will observe drilling and sampling techniques and take custody of the samples for assay determinations and data plotting. This observation and oversight will be to ensure consistencies necessary to develop a statistical reserve calculation if results are comparable with the previous 1990 and 1993 data noted in the 2007 Behre Dolbear report.

IMD will work with Deer Trail Mining Company personnel at the direction of General Manager Charles Madsen, who also serves as executive vice president for operations for Unico, Inc., or others designated by Mr. Madsen to verify mill recoveries and an accurate tonnage factor for the tailings pile. After completion of the analytical work and at the direction of Deer Trail Mining Company, IMD will prepare a preliminary report that includes assay and comparable statistical data for review. After a full evaluation, IMD will then determine the possibility of calculating an ore resource/reserve or whether additional follow up work will be required.

Depending upon the results of drill and sample data and at the direction of Deer Trail Mining Company, but as an independent Qualified Person, IMD and Mr. Johnson will assist with economic evaluations and prepare necessary technical reports to disclose a Securities Exchange Commission and a Canadian NI 43-101 compatible reserve from these tailings and other verifiable measured reserves.

IMD has estimated that workdays for all of the items covered in the agreement are approximately 14 to 15 days.

Mark A. Lopez, chief executive officer of Unico, Inc., commented, "We are pleased to have entered into this agreement, which is expected to allow us to complete a reserve calculation from the tailings and additional stockpiled material at the Deer Trail Mine. This is a logical next step in following the recommendations set forth in the reports from Behre Dolbear, and we look forward to the information that will be generated by Industrial Minerals Development's work at the Deer Trail site. Due to the size of the potential reserves of the tailings and stockpiled material, Deer Trail Mining Company will aggressively seek to add other potential ore reserves located on the property, including gold and silver reserve.

"We expect to provide updates on the progress of the work performed by IMD, including information on drill holes and analysis conducted as part of the project, as the information becomes available," Mr. Lopez added.

Shareholders who would like to sign up to receive information by email directly from Unico, Inc., including when newsletters are posted to the company website, are asked to visit the company's website at [ http://www.unicomining.com/IR/mailinglist.php ] and fill in the appropriate fields.

About Unico, Inc.

Unico, Inc. (OTCBB: [ UNCO ]) is a publicly traded natural resource company in the precious metals mining sector that is focused on the exploration, development and production of gold, silver, lead, zinc, and copper concentrates at its two mine properties: the Deer Trail Mine and the Silver Bell Mine. Unico and its wholly owned Deer Trail Mining Company subsidiary completed the purchase of the Deer Trail Mine in 2007, and Unico has also announced agreements to acquire over 70 additional mining claims in the area of the Deer Trail Mine including the Clyde and Crown Point mining claims. For more information, please visit [ www.unicomining.com ].

Forward-Looking Statements: This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and such 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.