Post by stevpot99 on Jan 18, 2005 13:07:08 GMT -5
United Development International: Five Ounces Gold Per Ton Discovered on La Ronge Gold Property
LAS VEGAS--(BUSINESS WIRE)--Jan. 18, 2005--United Development International (Pink Sheets: UDVE) will be focusing its drilling plans on high-grade ore concentrations which have returned more than 5 ounces of gold per ton in original assay results.
At the current market price of $423 USD per ounce, each ton excavated will result in gross proceeds of $2,115 USD. Every 1,000 tons mined will result in gross revenue of $2,115,000 USD.
There is significant information to expect a sizeable anomaly with tremendous tonnage on these properties.
Initial geology reports from a small drill sampling program lead management to believe this site could generate significant gold and possibly, diamond production over the next three years. Also, early indications from the limited sampling program lead management to believe proven reserve testing will yield results sufficient to justify investment in full-scale commercial mining facilities.
The company has completed initial drill testing on the property which has yielded positive and consistent occurrences of gold of sufficient quantity to support a sustained commercial mining operation. In addition, the property is located within a short distance of a DeBeers joint venture at Fort Ala Corne, Saskatchewan, also adjacent to the La Ronge Gold Belt, which geologists have stated contains one of the single largest kimberlite deposits in the world. Kimberlite is the host rock for diamond deposits.
United Development International is quoted on NQB Pink Sheets as "UDVE."
CAUTIONARY STATEMENT: This news release may include forward-looking statements within the meaning of Section 21E of the United States Securities Exchange Act as amended, and/or the U.S. Private Securities Litigation Reform Act of 1995. All statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements that involve various risks and uncertainties. All forward-looking statements in this release are expressly qualified by this notice.
United Development International to Expand Exploration Program on Canadian Gold Properties
LAS VEGAS--(BUSINESS WIRE)--Jan. 18, 2005--United Development International (Pink Sheets:UDVE) is expanding exploration on La Ronge gold properties S-102643 and S-106465 located approximately 15 km north of La Ronge, Saskatchewan, Canada. These properties are located side by side and are in the La Ronge Gold Belt, which has had many successful mining operations in the region such as the Contact Lake Gold Mine 50 km northeast, Anglo Rouyn Copper/Gold mine 25 km northeast, and Jolu Gold mine,150 km north.
The exploration program will initiate immediately. This will consist of a diamond drilling with a sampling program that will better evaluate and define the gold interceptions from previous work.
Previous work consisted of magnetic, VLF-EM surveys and diamond drilling led to discovery of gold near the southern boundary of S-106465 in late 1997. Anomalous gold was intersected from within a wide zone of semi-massive sulphides. The zone has an increase of carbonate and quartz mineralization with the best gold value of 1.85 oz/ton over 4.5 feet from 380' to 384.5'. The intersection averages 0.515 oz/ton Au and 13.4 ppm Mo over 18 feet.
In March 1999, a baseline and grid were established to conduct geophysical surveys and establish an accurate location and control for the drill holes. Magnetic and Very Low Frequency Electromagnetic (VLF-EM) surveys were conducted on the lines. During January and April 1999, thirteen holes totaling 5203 feet (1585.8m), were completed. Anomalous gold was intersected in 11 out of 13 holes with the best intersection of 2.1 oz/ton Au at 346'-350'.
During January and April 2000, ten holes totaling 5733 feet (1747.4m), were completed. Anomalous gold was intersected in three holes with the best intersection of .1oz/ton Au over 4'.
Holes 28 to 36 were drilled in 2001 with best values encountered from hole 35, which returned .554 oz/ton over 4 feet (570-574').
United Development International is quoted on NQB Pink sheets as "UDVE".
CAUTIONARY STATEMENT: This news release may include forward-looking statements within the meaning of Section 21E of the United States Securities Exchange Act as amended, and/or the U.S. Private Securities Litigation Reform Act of 1995. All statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements that involve various risks and uncertainties. All forward-looking statements in this release are expressly qualified by this notice.
LAS VEGAS--(BUSINESS WIRE)--Jan. 18, 2005--United Development International (Pink Sheets: UDVE) will be focusing its drilling plans on high-grade ore concentrations which have returned more than 5 ounces of gold per ton in original assay results.
At the current market price of $423 USD per ounce, each ton excavated will result in gross proceeds of $2,115 USD. Every 1,000 tons mined will result in gross revenue of $2,115,000 USD.
There is significant information to expect a sizeable anomaly with tremendous tonnage on these properties.
Initial geology reports from a small drill sampling program lead management to believe this site could generate significant gold and possibly, diamond production over the next three years. Also, early indications from the limited sampling program lead management to believe proven reserve testing will yield results sufficient to justify investment in full-scale commercial mining facilities.
The company has completed initial drill testing on the property which has yielded positive and consistent occurrences of gold of sufficient quantity to support a sustained commercial mining operation. In addition, the property is located within a short distance of a DeBeers joint venture at Fort Ala Corne, Saskatchewan, also adjacent to the La Ronge Gold Belt, which geologists have stated contains one of the single largest kimberlite deposits in the world. Kimberlite is the host rock for diamond deposits.
United Development International is quoted on NQB Pink Sheets as "UDVE."
CAUTIONARY STATEMENT: This news release may include forward-looking statements within the meaning of Section 21E of the United States Securities Exchange Act as amended, and/or the U.S. Private Securities Litigation Reform Act of 1995. All statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements that involve various risks and uncertainties. All forward-looking statements in this release are expressly qualified by this notice.
United Development International to Expand Exploration Program on Canadian Gold Properties
LAS VEGAS--(BUSINESS WIRE)--Jan. 18, 2005--United Development International (Pink Sheets:UDVE) is expanding exploration on La Ronge gold properties S-102643 and S-106465 located approximately 15 km north of La Ronge, Saskatchewan, Canada. These properties are located side by side and are in the La Ronge Gold Belt, which has had many successful mining operations in the region such as the Contact Lake Gold Mine 50 km northeast, Anglo Rouyn Copper/Gold mine 25 km northeast, and Jolu Gold mine,150 km north.
The exploration program will initiate immediately. This will consist of a diamond drilling with a sampling program that will better evaluate and define the gold interceptions from previous work.
Previous work consisted of magnetic, VLF-EM surveys and diamond drilling led to discovery of gold near the southern boundary of S-106465 in late 1997. Anomalous gold was intersected from within a wide zone of semi-massive sulphides. The zone has an increase of carbonate and quartz mineralization with the best gold value of 1.85 oz/ton over 4.5 feet from 380' to 384.5'. The intersection averages 0.515 oz/ton Au and 13.4 ppm Mo over 18 feet.
In March 1999, a baseline and grid were established to conduct geophysical surveys and establish an accurate location and control for the drill holes. Magnetic and Very Low Frequency Electromagnetic (VLF-EM) surveys were conducted on the lines. During January and April 1999, thirteen holes totaling 5203 feet (1585.8m), were completed. Anomalous gold was intersected in 11 out of 13 holes with the best intersection of 2.1 oz/ton Au at 346'-350'.
During January and April 2000, ten holes totaling 5733 feet (1747.4m), were completed. Anomalous gold was intersected in three holes with the best intersection of .1oz/ton Au over 4'.
Holes 28 to 36 were drilled in 2001 with best values encountered from hole 35, which returned .554 oz/ton over 4 feet (570-574').
United Development International is quoted on NQB Pink sheets as "UDVE".
CAUTIONARY STATEMENT: This news release may include forward-looking statements within the meaning of Section 21E of the United States Securities Exchange Act as amended, and/or the U.S. Private Securities Litigation Reform Act of 1995. All statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements that involve various risks and uncertainties. All forward-looking statements in this release are expressly qualified by this notice.