Unico, Inc. And Its Deer Trail Mining Company Subsidiary Host USGS Field Trip
Unico, Incorporated (OTCBB: UNCO), a natural resource company in the precious metals mining sector, today announced that the company and its wholly owned Deer Trail Mining Company subsidiary hosted the recent United States Geological Survey (USGS) 2008 Marysvale District Field Trip at the Deer Trail Mine property.
According to a report submitted by Deer Trail Mining Company Chief Geologist L. Alex Scarbrough, Jr., the trip was conducted by representatives from the USGS and included seven of the most eminent research geologists employed by the federal government. Mr. Scarbrough contributed his own intimate knowledge of the Deer Trail Mine property.
The trip was conducted over several days in September 2008 and included visits to the The Big Rock Candy Mountain, Whitehorse, and Yellowjacket Replacement-type alunite deposits in the Antelope Range of the Eastern Marysvale District; the VCA Mine U-Mo-F Mine in the Antelope Hills Range of the Eastern Marysvale District; the Christmas, L &N, Bradburn, and Mineral Products High Sulphidation vein-type alunite Mines in the Alunite Ridge Area of the Western Marysvale District; the Lower (New) Deer Trail Manto-type Ag-Au-Zn-Pb-Cu Mine at the base of Deer Trail Mountain in the Western Marysvale District; the Wedge Low Sulphidation Quartz vein-type Au-Ag-Te Mine on the north side of the Mt. Edna-Mt. Brigham Area of the Western Marysvale District; the respective 20 m.y. and 10 m.y. basaltic flows in the Western Marysvale District.
One of the highlights of the trip was spending a majority of the final day touring the Deer Trail mine and milling complex. Several stopes in both the Callville Limestone-hosted 3400 Area and Toroweap Sandstone-hosted 8600 Area were toured and evaluated. Samples were taken for age date classification and temperature of emplacement. Analytical equipment was set up in the Deer Trail office and samples were analyzed for sericite alterations.
Pictures from the trip are expected to be added to the Unico website, www.unicomining.com, in the next several days.
Numerous discussions with the nine field trip participants included topics that may have significance to exploration efforts in the Marysvale District. These included:
1. Alunite and Mo-Porphyries — Alunite veins have been discovered over other Mo-porphyries; similar veins in the Marysvale area may attend a Mo-Porphyry.
2. Fluorite Veins and Mo-Porphyries — Several fluorite veins in the Lower (New) Deer Trail Mine may indicate the presence of a Mo-bearing porphyry system.
3. Bi-modal Volcanism and Mo-Porphyries — The presence of bi-modal volcanism is deemed critical to propagating Mo-porphyry deposits. Two major episodes of basaltic volcanism within the overall rhyo-dacitic Marysvale Volcanic Field.
4. Phosphate, Alunite, and Poly-metallic Deposits — The vein alunite deposits of the Marysvale District carry a significant amount of phosphate. Anomalous levels of the element noted in the vicinity of ore-grade drill intercepts in the Lower (New) Deer Trail Mine may have exploration significance.
5. Sand Stopes in the Lower (New) Deer Trail Mine — Large quantities of disaggregated quartz sand are present in the vicinity of the Toroweap-hosted mantos orebodies. These may indicate proximity to blind orebodies as similar phenomena did in the Gilman Zn-Pb-Ag-Au Mine near Leadville, Colorado.
6. Other Alunite Veins and Potential Porphyry Targets — Significant alunite veins have been recently discovered between the Marysvale, Utah District and the Pine Grove, Utah Mo-Porphyry Deposit may overlie another porphyry system.
7. Alunite Vein Modes of Emplacement — Alunite veins may have filled 50 foot wide open fissures. Any Mo-porphyry may have been vented to the atmosphere. Alternatively, the fissures may have been incrementally widened and filled.
8. Source and Timing of Mineralizing Fluids — The source of uranium, molybdenum, and fluorine vein mineralization hosted by 23 m.y. intrusives may be a younger 18 m.y. intrusive that may pose molybdenum porphyry target.
“We are pleased to have had the opportunity to host the USGS 2008 district field trip at the Deer Trail Mine property,” commented Mark A. Lopez, chief executive officer of Unico, Inc. “Our work at the property over the last several years, including the reconstruction of the mill and processing facility and exploratory drilling programs at the site in preparation for future underground mining activities, has generated additional interest in the Deer Trail project, including the geological features of the mining district in which it is located. We look forward to contributing to the geological knowledge of the area through our work at the Deer Trail Mine and surrounding claims.”
Unico is currently completing the testing phase of the completed floatation circuit at the mill and processing facility at the Deer Trail Mine in Marysvale, Utah. Material is being processed as part of the testing phase, and the company expects the next steps at the facility to include the production of concentrate.
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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. The company has also announced agreements to acquire over 70 additional mining claims including the Clyde and Crown Point mining claims. In August 2007, Unico announced that its wholly owned Deer Trail Mining Company subsidiary had completed the purchase of the Deer Trail Mine from Crown Mines, LLC. For more information, please visit www.unicomining.com.
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.
Contacts: Gemini Financial Communications, Inc. A. Beyer 951-677-8073 Email Contact OTC Financial Network Rick McCaffrey 781-444-6100, x625 Email Contactwww.otcfn.com/ucoi
SOURCE: Unico, Inc.