Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

 Information  X 
Enter a valid email address

Union Resources Ltd (URL)

  Print      Mail a friend

Tuesday 04 April, 2006

Union Resources Ltd

Updated resource estimates

Union Resources Limited
04 April 2006


                                                         


news release


For immediate release: 4 April 2006


                            UNION RESOURCES LIMITED

                           Updated resource estimates


Union Resources Limited (Union) has pleasure in announcing new resource
estimates for the Mehdiabad Zinc Project in Iran. These were completed by
independent consulting geologists Hellman & Schofield Pty Ltd ('H&S'). The
reporting of these new resource estimates is in accordance with the 2004 JORC
Code.

The new resource estimates at a cut off grade of 2% zinc are tabulated below.

Category          Million  Zinc   Lead       Silver Approximate Recovered Metal
                  Tonnes    %       %         g/t    Zn (mt)  Pb (mt)  Ag (m oz)
Measured           140     4.1     1.6         34      4.1      1.2        45
Indicated          222     4.2     1.6         36      6.5      1.9        78
Measured +         362     4.2     1.6         35     10.6      3.1       123
Indicated
Inferred            32     4.5     1.4         38      1.0      0.2        11
  TOTAL            394     4.2     1.6         36     11.6      3.3       134

mt = million tonnes, m oz = million ounces.


Whilst the in-ground metal associated with this estimate comprises 16.4 million
tonnes of zinc, 6.2 million tonnes of lead and 460 million ounces of silver, not
all of that metal content can be recovered by the planned metallurgical
processing route.

The 'Recovered Metal' has been calculated by using the following recoveries: 66%
for oxide zinc; 72% for sulphide zinc/lead and 40% for sulphide silver. No
recoverable lead or silver applies to the oxide mineralization.

The metallurgically recoverable metal within the resource is therefore estimated
at 11.6 million tonnes zinc, 3.3 million tonnes lead and 134 million ounces of
silver.

The zinc resource is made up of both oxide and sulphide mineralogy, that will be
processed in one integrated processing plant.

The oxide resources for Measured, Indicated and Inferred are 36.4 mt, 47.7 mt
and 8.7 mt, respectively, (above a 2% Zinc cut-off grade) with similar zinc,
lead and silver grades to those tabulated (total oxide resource 92.8 million
tonnes).

Approximately 25 % of the resource is oxide and 75% sulphide.

A 2% cut off zinc grade has been selected based on economic studies. However, in
addition to the above resource, there is approximately a further 100 million
tonnes of Measured and Indicated mineralization between 1% and 2% zinc that
falls within a preliminary optimum pit. Whilst it is presently uncertain whether
this material will contribute to the Project's economics, it is likely to form a
separate low grade stockpile for consideration for future processing.

The notes prepared by H&S that accompany the above estimate, are attached
hereto, as Appendix 1. A plan of the location of the drill holes involved in the
estimate is also attached or can be viewed on the Company's website.

Now that the resource estimate has been obtained, other aspects of the
Feasibility Report can be finalised, and further information will be released
when it becomes available.



                                      ENDS


For further information:


Union Resources Limited                  (Tel: 00 61 7 3833 3833)
Rob Murdoch - Managing Director
www.unionresources.com.au


Westhouse Securities LLP                 (Tel: 020 7601 6100)
Bill Staple
Richard Morrison


Bankside Consultants                     (Tel: 020 7367 8888)
Keith Irons
Simon Rothschild



APPENDIX 1.


Notes

The resource estimates were performed by Dr Phillip Hellman who is a Director of
Hellman & Schofield Pty Ltd ('H&S') and a Fellow of the Australian Institute of
Geoscientists. He qualifies as a Competent Person under the meaning of the 2004
edition of the Australasian Code for Reporting Exploration Results, Mineral
Resources and Ore Reserves (the 'JORC Code'). He has reviewed this announcement
and consents to the inclusion of these estimates in this release in the form and
context in which they appear.

Preliminary pit optimisation studies completed in December 2005 suggest that
approximately 92% of the total resource and 93% of the Measured and Indicated
resources fall within an optimum pit.

The estimates are based on approximately 18,000 assays from 203 diamond drill
holes and 13 trench and adit samples. Samples from five drill holes completed
between 1963 and 1966 have been excluded from resource estimation due to
uncertainties associated with their interval depths. A number of trenches have
also been excluded due to survey uncertainties. Estimation was by Ordinary
Kriging within six mineralization domains defined on the basis of geochemistry,
geology and attitude.

Confidence categorisation has been undertaken on the basis of a consideration of
distance of data points to blocks, number of two metre composited assays,
geology and reliance upon samples with poor core recovery. Measured blocks are
derived from a search ellipsoid with dimensions of 100 x 100 x 25 metres;
Indicated from a 150 x 150 x 50 metre search and Inferred from a 200 x 200 x 50
metre search. Minimum number of data are 8, 8 and 6 for the three categories,
respectively. Blocks may only be classified as Measured and Indicated if they
fall within 3D defined mineralisation envelopes. A model of core recovery was
produced and blocks with estimates of recovery less than 50% were demoted to
Inferred, Measured blocks with between 50 and 80% recovery were demoted to
Indicated.

An extensive internal validation of the database has been undertaken by H&S with
a long process of error detection and correction. H&S, however, has yet to
undertake a complete verification of information such as a comparison of the
physical core logs with those in the digital database. H&S has undertaken site
visits and limited spot verification including GPS checking of collar locations.

Geological interpretations were modelled from interpretations supplied by Union
contract geologists. This includes the modelling of the major rock types and
bounding faults as well as the definition of major ore-types.

H&S initiated, in early 2004, a rigorous QA/QC program designed to monitor
accuracy and precision of assays. No issues were found with the assays checked,
corresponding to drill samples from 1999 to present. Core recovery is variable
with an overall recovery of 92% within assayed intervals. Zones containing
cavities, resulting from karstification, have an average recovery of 61%. These
intervals have a higher grade (4.5% zinc) than intervals with higher core
recovery (94%) which average 2.6% zinc. It has been recognized that these zones
may contain black mineralised muds that are difficult to recover during
drilling. It is likely that selective loss of mineralisation has occurred
resulting in the understatement of grade in these areas. Drilling recoveries
have improved during the life of the project and it has been recommended by H&S
that a twin hole be completed alongside a hole with low core recoveries to help
determine the extent of any grade upgrade, if any, that may result from better
core recoveries.

3D modelling of areas subjected to cavity development have been completed by
Union's geotechnical consultants and used by H&S to assign reduced density
values (1.5 & 1.8, depending on zone) for conversion of volumes to tonnages.
1603 density determinations (average of 3.08) have been used to create a model
of density. Waxed densities have been compared to densities determined by
callipering tray lengths of core. A close agreement between the two sets of
results was achieved.

The current definition of oxide and sulphide mineralization requires more work
in view of the occurrence of deep oxide mineralization below the current oxide/
sulphide surface and sulphide above the surface. Recoverable metal has been
estimated by using average recoveries from preliminary metallurgical variability
testwork based on oxide samples (small scale shaking flask tests and leach tests
on composite samples) for zinc and sulphide samples (flotation testwork for
zinc, lead and silver).

Previous resource estimates reported by Union were performed by SRK (2001) using
a different method of estimation ('nearest neighbour') from that employed by H&
S. Zinc grades estimated by H&S are lower by approximately 15% than those by SRK
at a 4% zinc cut-off.

The resources are reported above a zinc cut-off grade of 2% on the basis of
advice received from Mr Patrick Scott, consultant to Union Resources, that this
is an approximate lower economic cut-off grade. Material between 1 and 2 % zinc
may have a marginal impact on project economics. Mr Scott is a Director of PS
Associates Pty Ltd and a Fellow of the AusIMM. He qualifies as a Competent
Person under the meaning of the 2004 edition of the Australasian Code for
Reporting Exploration Results, Mineral Resources and Ore Reserves (the 'JORC
Code'). He has reviewed this announcement and consents to the inclusion of this
statement in the form and context in which it appears.






                      This information is provided by RNS
            The company news service from the London Stock Exchange