Montreal, Quebec / ACCESSWIRE / July 16 2014 / Uragold Bay Resources Inc. ("Uragold") (TSX Venture: UBR) is pleased to announce that it's wholly owned subsidiary, Quebec Quartz, has successfully completed its previously announced work program on the Drucourt and Roncevaux silica properties. During the exploration program, additional claims were added to both properties to cover additional quartz occurrences identified in close proximity to the properties.
The Drucourt property, located in the Cote Nord region of Quebec, contains part of the quartzite bodies historically named Q1 to Q121. The exploration team selected the Q-12 body for sampling due to its size, the historical work already done on it and its location, 850 metres from road 138. The field crew localized the Q12 quartzite, a body over 125 metres in length and over 45 m in width and successful extracted samples. Visually, the quartzite showed very high purity quartz with some impurities; mostly fine iron oxides due to weathering on the surface and in veinlets. The other quartz occurrences in the original claims and the additional claims were not explored at this time.
1 Pronovost, Jean-Marie. 2002. Evaluation des quartzites de la propriete Drucourt. Rapport des travaux presente a Andre Liboiron et au fonds d'exploration miniere de la Cote nord (F.R.E.M.) SAMEXOR Enr. GM59751. 33 pages. 3 plans
The Roncevaux property, located in the Matapedia valley in the Gaspe region of Quebec, contains a quartz vein that was historically trenched. Barrette2 (2003) reported that the Quartz vein is 340 metres long with a width varying between 3 and 12 metres. In the past, parallel trenches over the veins were done resulting in grades of up to 99.40% SiO2. The field crew was easily able to localize and sample the quartz vein that can be accessed by forestry roads close to Road 132. Historical trenches were left unrestored but natural refilling of the trench is in progress and only part of the trenches can be accessed. The quartz occurrences in the additional new claims have not yet been explored.
2 Barrette, Jean-Paul. 2003. Rapport des travaux d'exploration miniere sur la veine de quartz pur. Projet Silice Roncevaux, canton Roncevaux, Gaspesie. GM60610. 45 pages. 2 plans.
The sampling work followed a protocol determined by the Company's technical team. The samples were taken on site on various areas of the outcrops with either a rock saw or a hammer and chisel, depending of local conditions. Samples weighting approximately 10 kg each along with a 3 kg duplicate were bagged on site and placed into large rice bags for storing. Ten samples were taken on each site and a total of approximately 260 kg were brought back by the field crew. For the Roncevaux property, part of the samples had to be taken in stockpiles next to the historical trenches because some trenches were completely refilled.
The Company will send samples to the INRS (Institut National de la Recherche Scientifique) laboratory in Quebec City to perform various tests including chemistry analysis, thermal shock, particle shape, size and distribution. Results and duplicate samples will be prepared for High Purity Silica end users and for silicon metal producers for evaluation.
Mr. Robert Gagnon, P. Geo, is a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the information in this news release. 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.
Patrick Levasseur, President and COO of Uragold stated "we are extremely pleased that field crew was able to identified quickly the historical quartz showings, extract samples and alert us to additional new quartz occurrences." Mr. Levasseur then added, "The Company looks forward to analyzing the collected samples in collaboration with the INRS, and to explore the rest of the properties."
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.
High Purity Silica (HPS) and Silicon Metal which is used in large part in the aluminum industry has become one of today's key strategic minerals with applications in high-tech industries that include semiconductors, LCD displays, fused quartz tubing, microelectronics, solar silicon applications and recently, Silicon Anode Lithium Batteries
About Quebec Quartz
Uragold acquired some of the most prospective historical HPQ deposits with High Purity Silica (+99.5% 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 (+99.5% 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.