Science & Technology
Science and Technology
Science and Technology
Tue, October 6, 2009
Mon, October 5, 2009 Unico, Inc.: Unico, Inc. Announces Progress Toward Resource Calculation on Tailings and Additional Material at the Deer Trail M
SAN DIEGO, CA--(Marketwire - October 5, 2009) - Unico, Incorporated (
Unico and Deer Trail Mining Company recently announced an agreement with Industrial Minerals Development, Inc. ("IMD") and Professional Geologist Frederic C. Johnson. The primary focus for the resource calculations are gold, silver and the potential for tellurium. Mr. Johnson has submitted a report updating the progress of work done at the Deer Trail Mine site thus far.
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.
Due to recommendations made by Behre Dolbear and Company (USA) on geological analysis and evaluation completed at the Deer Trail Mine, Mr. Johnson, in coordination with Alex Scarbrough, senior geologist for Unico's wholly owned Deer Trail Mining Company subsidiary, decided to locate and twin only holes that were previously drilled by Energy Fuels in 1990.
It was noted in the tailings report submitted by Behre Dolbear that the 1990 tailings evaluation had significantly superior sampling procedures. It was also noted that the 1993 tailings evaluation had a superior topographical map. The 1993 topographical map was compiled by a site survey conducted by Jones And DeMille Engineering of Richfield Utah. Mr. Johnson has obtained the 1993 topographical map in Autocad format from Jones And DeMille.
The 1993 Auto Cad topography and drill hole map was calibrated and converted from Jones And DeMille's local grid (set at 10000E, 10000N) to the UTM and Utah State Plane NAD 27 coordinate system used by Energy Fuels to locate drill sites. This allowed Industrial Minerals Development to plot the 1990 drill holes on the 1993 topography map.
Twenty-six proposed holes have been picked for comparison data drilling and to determine the depth of erosion from the 2004 landslide which altered the alluvial channel. The criteria considered in choosing the holes included: 1) a generally thicker section of tailings for comparison is expected in most holes with an expected average thickness of 20 ft. thick; 2) a relatively even distribution of the drill holes on the tailings area would allow accurate re-contour of the top of the tailings if erosion by the overlying alluvial deposit is significant; 3) new drill locations will be within 10 feet of the old 1990 drill sites except where one hole site twins the 1993 Hole # 33 to determine alluvial depth and fill in a gap in data.; 4) drill holes in addition to the 15 recommended holes were necessary to determine the thickness of the alluvial deposit and its affect on the underlying tailings; 5) twining at least one hole with thinner tailings near the alluvial channel will tell if erosion has cut away some of the thin tailings; 6) comparisons will be evaluated in the field to insure all necessary data is available to classify the deposit.
Drilling bids have been received from two companies, both of which have drilling equipment available in the next several weeks.
The type of drilling was chosen considering: 1) the type of drilling done in the past was cores and reverse circulation. It is unsure how the cores were taken. However, indications are that the reverse circulation drilling in 1990 and the cores taken in 1993 were comparable; 2) the 2009 drill project will use a reverse circulation (dual wall system) that will approximate closely the 1990 drilling and sampling.
"The information in the initial report from Mr. Johnson has been helpful in determining the appropriate next steps in our efforts to complete a resource calculation from the tailings and additional stockpiled material at the Deer Trail Mine," said Mark A. Lopez, chief executive officer of Unico, Inc. "We look forward to additional progress as this initiative moves forward and will keep shareholders informed as frequently as possible."
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About Unico, Inc.
Unico, Inc. (
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.
