Montreal, Quebec / ACCESSWIRE / July 8 2014 / Uragold Bay Resources Inc. ("Uragold") (TSX Venture: UBR) is pleased to announce that it's wholly owned subsidiary, Quebec Quartz, has initiated a work program in order to start the evaluation process of its 12 high priority Silica properties.
Due to their close proximity to the future FerroAtlantica Port Cartier Silicon Metal production facilities, fieldwork will first start on the Drucourt property (300,000 tons Historical Resource 98.60% (SiO2))* located in the Cote Nord region of Quebec and the Ronceveaux property (414,700 tons Historical Resource 99.20% (SiO2))* located in the Matapedia valley in the Gaspe region of Quebec. In addition, to their close proximity to Port Cartier, both properties are within 80 kilometers of a deep-sea harbor that can handle bulk shipments for worldwide exports.
*Source: Resources Naturelles du Quebec, Sigeom 2014, Work Reports GM60610, GM60577. A qualified person has not verified the relevance and reliability of the properties outlined above. All information such as resources estimates and grades herewith presented is historical in nature and while relevant, the information was obtained before the implementation of National Instrument 43-101 and as such does not meet National Instrument 43-101 reporting standards. The historical estimate should not be relied upon until the Company can confirm them.
A field crew has been mobilized to complete a review of the local geology and verify the extent and size of the known quartz deposit in addition to investigating the potential for new discoveries that could compliment the already rich portfolio of High Purity Silica (HPS) assets held by the Company. After having mapped the quartz deposits, the field crew will extract approximately 200 kilograms of quartz per property in the more prospective historic high-grade zones for assaying and metallurgical tests.
To fully comply with high purity quartz industry standards, several constant parameters must be met including: 1) Chemistry; 2) Particle shape, size and distribution; 3) Hydroxyl level and; 4) Carbon content. These four characteristics are fundamental for the successful production of high purity quartz to a commercially acceptable product standard. Samples will be sent to an independent lab, silicon metal producers and specialized labs that supply high purity quartz to high tech companies.
Patrick Levasseur, President and COO of Uragold stated, "We are extremely pleased with the speed at which the field crew was mobilized to commence the first phase of work to evaluate the HPS properties the Company staked in Q2." Mr. Levasseur then added, "The Company looks forward to shipping samples to leading Silicon Metal producers and HPS laboratories so that we can evaluate the quality of our material."
Quartz is one of the most abundant minerals. It occurs in many different settings throughout the geological record. High Purity Quartz deposits with low impurities are rare. However, only very few deposits are suitable in volume, quality and amenability to tailored refining methods for specialty high purity applications.
As such high purity quartz has become one of today's key strategic minerals with applications in high-tech industries that include semiconductors, LCD Displays, fuse quartz tubing, microelectronics, solar silicon applications and recently Silicon-Anode Lithium Batteries.
CRU's, Silicon Metal Market Outlook Report, published Friday 28th March 2014, reports that the resumption of stronger growth in demand has improved the prospects for the silicon market. "Recent price gains can mainly be attributed to tightening supply due to low current levels of production in Brazil and China, but increasing demand will sustain these gains and support a further rise in silicon prices through to 2017."
About Quebec Quartz
Uragold acquired some of the most prospective historical HPQ deposits with High Purity Silica (+98.5% SiO2) (HPS) values in Quebec during Q2 2014. Quebec Quartz is a 100% own subsidiary of Uragold Bay Resources, a junior exploration company listed on the TSX Venture under the symbol UBR. Quebec Quartz holds a strategic portfolio of high purity silica (+98.5% SiO2) deposits and closed silicon metal mines in Quebec. The HPS deposits that the Corporation has staked in Quebec can potentially have substantially higher margins as additional processing (beneficiation) may not be necessary for end user applications.
About Uragold Bay Resources Inc.
Uragold Bay Resources is a junior exploration company listed on the TSX Venture. Uragold holds gold properties in Southern Quebec's Appalachian belt. Uragold is implementing a unique business model that calls for developing smaller-scale mining projects, (Capex < C$10M with a starting LOM between to 3 to 7 year), which can generate high yield returns (IRR > 50%), into mines in order to generate free cash flow to internally finance growth and blue-sky exploration projects
Uragold will reach these goals by developing Quebec's first placer mine in 50 years, the Beauce Placer Project developing and, in partnership with Golden Hope Mines, the Bellechasse-Timmins Gold Deposit.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information contact
Bernard J. Tourillon, Chairman and CEO
Patrick Levasseur, President and COO
Tel: (514) 846-3271
SOURCE: Uragold Bay Resources Inc.