RELEASE UMACO 20.02.08
The UMACO AustraliaPty Ltd CEO/Chairman Warren Geary announced a new golden era for mining inQueensland with the signing of a multi-billion-dollar Joint Venture with anIsraeli/Portuguese consortium, who will commence operations in the ChartersTowers Region then extending to Central and Northern Queensland and PNG.
We welcome two newmembers Paula Salgado; Executive Director- FinancialAdministrator & Offer Dischon; Executive Director -International Affairs and Business Relations. Both new members are executivesand shareholders on the Board of UCOVALE Holdings Pty Ltd, who will worktogether in a partnership consortium with UMACO AUSTRALIA as a coalitionproviding advice and financial integration services with the UMACO AustraliaPty Ltd Board of Directors. Both members bring their extensive strategic business, finance,investment communications, international relations and trading experience tothe Board.
The JV namely,UCOVALE Holdings Pty Ltd will utilise UMACO’s revolutionary proprietary knowledge andtechnologies, resulting in faster mineral recovery, dramatically decreasing All in Sustaining Costsfor greater income, while minimising environmental damage.
UCOVALE willspecialise in mining large ancient buried alluvial and subterranean veindeposits containing Gold and Industrial Mineral utilising the latest oreextraction techniques to give the highest returns for investors.
These techniques vary dramatically from thecurrent methods of mining allowing recovery of ores by mining high volume projects on lowgrade gold ores combined with Industrial minerals backed against adjacentprojects extracting high grade narrow veins of gold extended in continuity at depth.
When in fulloperation it is anticipated that these operations will bring thousands of jobsdirectly to Queensland, significantly boosting the economy via royalties fromhigh valued gold production and mining of Industrial Minerals in tandem withfurther exploration and production on existing and planned Gold miningoperations.
Industrial Mineraldeposits are known to exist in Heavy Metal (HM) concentrations within theprojects to be mined. From known information indicated to date for projected deposits,percentages of Titanium minerals vary from as high as 14% Ilmenite and 2.3%Rutile; long with other deposits: 5% Garnet, 3% Zirconia Sands, and 40%Magnetite iron. Rare earths also potentially exist; namely, Monazite and Bastnasite.
Industrial mineralsand rare earths are highly sought after for current technologies varying fromlithium ion batteries to metals, construction materials, ceramics, paints, electronics, filtration, plastics, glass, detergents and paper to mention but a few.
The high value ofthese products will further reduce the All-in-Sustaining Costs (AISC) and boost profitability.
UMACO AUSTRALIA hasprolific Gold projects that lay within the largest Gold belts in QueenslandAustralia, stretching across the Queensland northern Galilee to the southeastBowen Basin. With an immediate focus on developments within the Leyshon Goldcorridor of Charters Towers, the company has a mesothermal ore body containingQueensland’s highest-grade intersection (6m up to 1340g/t Au) extending fromthe largest and deepest Gold chamber in Australia defined by technical reportsat depth.
The company’s broaderinterests, spreads across Northern Queensland bound by ancient buriedPost-Neoproterozoic’s Palaeo channels and deep leads. Their Northern districtsprojects encompass Pentland to Georgetown, and Palmer Gold Fields in breathtakingmagnitudes of 33,000 square kilometres measuring the gravity of their size and capacities consolidated in evolving forecasts and analysis todate.
The company's mineral arm is poised with high quality resources visioned on
establishedcriteria delivering beyond a billion cubic metres of known significancecurrently. All projects are supported by sound methodology and geotechnicalmodels unique to their independence.
Their surface projects are two (2)established massive opencast longwall bulk materialalluvial developments containing identified acute low grade Gold deposits,based on essential criteria for world class average Gold grade recovery.
These projects areconstructed geotechnically on an insitu run of ore in ‘low gold grade control’supported by high grade industrial mineral deposits, that when processed aredesigned to accumulate bulk material and compounding Gold. This process is repeatedinto reduction cycles which upgrade into super-grade concentrates, in turn,delivering ounces per ton of concentrates, which are in direct contrast totraditional methods of production and recoveries.
Current explorationprojects assessed define over 2,000,000 Oz Gold with an additional magnitude ofGold and industrial minerals and rare earths known and qualified to exist.Resources are identified to contain over 30,000,000 Oz Gold.
Please see Reserves and Resources ---f
