very thick high grade drill intersection at mehdia

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Email: [email protected] Internet: www.unionresources.com.au
Union Resources Limited
A.B.N. 40 002 118 872
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Tel: +61 7 3833-3833 Level 6, 200 Creek Street, Brisbane Postal Address:
Fax: +61 7 3833-3888 PO Box 728
Spring Hill Q
Australia 4004
3 June 2005
Company Announcements Office
Australian Stock Exchange Limited
20 Bridge Street
SYDNEY NSW 2000
Dear Sir
Re: A NEW VERY THICK HIGH GRADE DRILL INTERSECTION AT
MEHDIABAD
Union Resources Limited (UCL) announces a new very thick high drill
intersection at its Mehdiabad Project in Iran.
Drill hole 8317 (Location 11000 E 8950 N) has intersected a “bonanza”
intersection of:
67 metres at 11.22% Zn, 2.28% Pb and 79 g/t Ag
The intersection occurs in a mineralised zone containing numerous blocky
cavities. As a result, the core loss was 56%, and hence over the interval of 67
metres, only 29 metres of core was actually recovered.
Hole 8317 also intersected the shallower lead resource that is situated above
and on the western side of the main zinc resource.
The full details of the intersections obtained in Hole 8317 are as follows:
LEAD RESOURCE
Intersections at a cut-off of 4.0% Pb are as follows;
2.1 m (261.5-263.6m) at 4.59% Pb, 2.36% Zn and 6 g/t Ag
1.35 m (264.5-265.85) at 4.93% Pb, 2.9% Pb and 8 g/t Ag
ASX Announcement – Mehdiabad Project Update 3 June 2005
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Email: [email protected] Internet: www.unionresources.com.au
ZINC RESOURCE
Intersections at a cut-off of 4.0% Zn are as follows;
9.2 m (239.5.0-248.7m) at 4.67% Zn, 3.51% Pb and 148 g/t Ag
1.6 m (249.5-251.1m) at 4.41% Zn, 7.12% Pb and 22 g/t Ag
2.1m (271.4-273.5m) at 4.03% Zn, 1.91% Pb and 92 g/t Ag
67.45 m (327.5-394.95m) at 11.22% Zn, 2.28% Pb and 79 g/t Ag*
(including intervals of up to 0.85m at 30.4% Zn, 9.1% Pb and 232 g/t Ag)
NB: * this result represents the assay value from the 29.95 metres of core
actually recovered from the 67.45m interval (an effective 56% core loss). Up
to 25 cavities were identified, developed within the mineralised interval.
The mineral resources information in this Report is based on, and accurately reflects, information compiled by Mr Ken
Chapple who is a Corporate Member of the Australasian Institute of Mining and Metallurgy. Mr Chapple has the
relevant experience in relation to the mineralisation being reported upon to qualify as a Competent Person as defined
in the Australasian Code for Reporting of Identified Mineral Resources and Ore Reserves.
Yours faithfully
UNION RESOURCES LIMITED
Rob Murdoch
Managing Director