Analysis of Placer Gold Grains Recovered from Washed Gravels Confirm a Hard Rock Origin for the Beauce Placer Gold Deposit
March 27 2014 - 10:01AM
Access Wire
MONTREAL, QUEBEC / ACCESSWIRE / March 27, 2014
/ Uragold Bay Resources Inc. ("Uragold") (TSX Venture:
UBR), is pleased to announce that it has received SEM
(Scanning Electron Microscopy) and EMP (Electronic
Microprobe) analysis results of selected gold grains recovered
last July 2013, from a sampling program of the washed gravels from
the former 1960's placer gold dredging operation on the Rang
Chaussegros claims of Uragold's Beauce Placer Gold property located
in the municipality of Saint-Simon-les-Mines in the Beauce region
of southern Quebec.
Three of the largest grains ranging in size from 200 um to 1.5
mm were sent to the INRS (Institut National de la Recherche
Scientifique) laboratory in Quebec City for SEM and EMP
analysis. The EMP analysis revealed that the surfaces of the grains
are composed mostly of pure gold with inclusions of iron oxides.
Marks have been identified on grain Au9c (see image) suggesting
that the gold nugget originated from bedrock or quartz veins in the
bedrock as it still retains remnant structure from the enclosing
vein/ bedrock. This is one more important indicator suggesting a
close proximity to a bedrock source of the placer gold deposit.
These results are similar to the SEM analysis of the gold grains
recover from the Uragold 2010 sonic drilling program. Uragold
reported (June 2011) gold grains scanned by SEM (scanning electron
microscope) revealed surfaces of relatively pure gold.
Combining previously reported Sedimentological observations,
gold grains characteristics and Induced Polarization (IP) data that
revealed a strong conductive anomaly (+60 msec) of the bedrock
below the auriferous basal till, the case for a close proximity
bedrock source of the placer gold is getting stronger.
The Beauce Placer property and the Golden Hope Mines'
Bellechasse-Timmins (BT) Gold Deposit (which are both 'nuggety'
type deposits) are located within Magog Group sediments. It should
be noted that the Beauce gold project has a thick till in contrast
to the Bellechasse-Timmins (BT) Gold Deposit where most of the till
has been eroded away and exposed the outcrops. This suggests that
both the Beauce and the Bellechasse/ Timmins deposits are
genetically related - the Beauce being a placer deposit derived
from an unknown Bellechasse/ Timmins type deposit
Mr. Vivian Stuart-Williams, SACNASPS, working under Special
Authorization #290 of the Quebec Order of Geologist, is an
Independent Qualified Person as defined by National Instrument
43-101 that supervised the preparation of the information in this
news release.
Patrick Levasseur, president and COO of Uragold stated.
"Supporting evidence of a hard rock deposit below the auriferous
till placer deposit is getting stronger. The Beauce Placer gold
deposit could be the tip of an iceberg of a larger potential hard
rock gold deposit."
About Uragold Bay Resources Inc.
Uragold Bay Resources is a junior exploration company trading on
the TSX Venture under the symbol UBR. Uragold holds gold properties
in Southern Quebec's Appalachian belt. Uragold's business model is
focused on the development of small-scale gold exploration projects
into mines in order to generate free cash flow to internally
finance growth and blues sky exploration.
Uragold aims to become one of the rare cash flow generating
mining S.M.E.'s in the next 12 - 18 months by developing Quebec's
first placer mine in 50 years, the Beauce Placer Project and by
developing, 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
www.uragold.com
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SOURCE: Uragold Bay Resources Inc.
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