Unico, Inc. Announces Completion of Underground Rehabilitation Work at 3400 Level of the Deer Trail Mine by Atlas Fausett Contracting
SAN DIEGO, CA, Feb 26, 2008 (MARKET WIRE via COMTEX News Network) -- Unico, Incorporated (OTCBB: UCOI), a natural resource company in the precious metals mining sector, today announced that Atlas Fausett Contracting, with which the company's wholly owned Deer Trail Mining Company subsidiary contracted for underground mine maintenance work including portal and stope rehabilitation, has completed rehabilitation work up through to the 3400 level of the PTH tunnel of the Deer Trail Mine in Marysvale, Utah.
Atlas Fausett Contracting, a division of Atlas Mining Company (www.atlasmining.com), was contracted by Unico's wholly owned subsidiary, Deer Trail Mining Company, to conduct initial underground maintenance work including the replacement of timber sets, clean up of the main haulage way and installation of ground support where needed, so the main PTH haulage tunnel is brought into compliance with Mine Safety and Health Administration (MSHA) regulations.
Atlas Fausett Contracting provides a variety of services, including site evaluation, feasibility studies, trouble-shooting and consultation prior to the undertaking of exploration and mine development. Atlas projects include all types of underground mine development, rehabilitation and specialized civil construction.
The work conducted by Atlas Fausett Contracting consisted of the following: 1) removal and replace all unstable timber sets in the first 3,400 feet; 2) repair of all steel tracks including replacement of track ties, spikes, and fish plates, where required; 3) installation of two hundred feet of 2" pipe that will be used to provide water for future mining activities; 4) repair of the mine emergency communication system; 5) repairs to the main air lines that power the underground mine equipment.
The main focus of the rehabilitation work was concentrated within the first 3,400 feet of the Deer Trail PTH haulage tunnel and on replacing old timber. Several tons of unstable rock resting on top of the timber sets and rotted timber was also removed and hauled outside of the mine.
Work is currently being planned for future mine headings by the Deer Trail support staff, including planned rehabilitation of the 6600 raise, which will be used to interlock the main PTH tunnel with the upper Deer Trail #3 haulage tunnel. This will allow the company to gain access to the 8600 workings in the PTH tunnel by providing a second escape route to the surface as required by MSHA.
"We are pleased to report the completion of the underground rehabilitation work in the first 3,400 feet of the PTH tunnel by Atlas Mining in preparation for future underground mining activities at the site," stated Mark A. Lopez, chief executive officer of Unico, Inc. "We look forward to further progress of underground work and exploration as part of our overall plan to develop the Deer Trail property."
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About Unico, Inc.
Unico, Inc. (OTCBB: UCOI) 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 three mine properties: the Deer Trail Mine, the Bromide Basin Mine and the Silver Bell Mine. The company has also announced agreements to acquire over 70 additional 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.
Forward-Looking Statements
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 Contact www.otcfn.com/ucoi
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