Uragold Acquires High Purity SiO2 Properties and Closed Silicon Metal Mines in the Province of Quebec
May 22 2014 - 1:01PM
Access Wire
Montreal, QB / ACCESSWIRE / May 22, 2014
/ Uragold Bay Resources Inc.
("Uragold") (TSX Venture: UBR) is pleased to announce that
it has acquired, through map staking, a strategic portfolio of high
purity silica (+98.5% SiO2) deposits and closed silicon metal mines
in Quebec.
About Silicon Metal
Silicon Metal is known
as a semi-metallic or metalloid, having several of the
characteristics of metals. It is derived from Silicon dioxide also
known as silica (SiO2). Silica is most commonly found in nature as
quartz. High purity quartz deposits (+98.5%SiO2) with low
impurities are rare. Commercially produced metallurgical grade
silicon metal is typically Si 98% pure and is notably produced in
China, Russia, Brazil, Norway, South Africa and USA.
Most metallurgical
silicon metal is used as an alloying agent in the aluminum industry
due to its ability to increase the strength of aluminum. Demand
from the aluminum industry has grown steadily in recent years due
to increased usage of aluminum in structural engineering, aircraft
manufacture and the automotive industry. Silicon metal is used in
the primary and secondary aluminum industry to improve the strength
of aluminum. This ability of silicon metal is of importance to the
automotive industry where components made from Aluminum Alloys
provide a strong and lightweight replacement for heavier cast iron
engine blocks and steel wheels. By reducing the weight in
automobiles, fuel consumption decreases. As a result green house
gas emissions are reduced which is a major contribution to
conservation of the environment.
In addition, there is
increasing demand for Silicon Metal from the solar power generating
industry where solar panels are made from silicon, which use the
sun's energy to produce domestic and industrial electricity.
Silicon based polymers are also used as alternatives to hydrocarbon
based products. They can appear in many every day products such as
lubricants, greases, resins, skin and hair products. A more well
known use of silicon is silicon chips, produced from semi-conductor
grade silicon they are components in many every day electronic
devices
Increase demand from the
aluminum industry and a tightening of supply for high purity silica
(+98.5%) has push prices higher in recent years. The latest price
for high purity silica (+98.5%) is US$1.45/lbs. (May 2014).
About The Properties:
--------------------------------------------------------------
|Property |Location |SiO2 Historical Estimates |
|------------------------------------------------------------|
|Drucourt |Charlesvoix|300,000 tons |
| | |Historical Resource |
| | |98.60% |
|------------------------------------------------------------|
|Gendron |Outaouais |150,000 tons |
| | |Historical Resource |
| | |99.36% |
|------------------------------------------------------------|
|Ronceveaux |Gaspesie |414,700 tons |
| | |Historical Resource |
| | |99.20% |
|------------------------------------------------------------|
|Martinville |Eastern |1,092,000 tons Historical Resource|
| |Townships | |
|------------------------------------------------------------|
|Malvina |Eastern |Quartz veins, sampled 99.74% SiO2 |
| |Townships | |
|------------------------------------------------------------|
|Bouffard |Eastern |Quartz veins, sampled 99.60% SiO2 |
| |Townships | |
|------------------------------------------------------------|
|Turgeon |Eastern |Quartz veins, sampled 99.80% SiO2 |
| |Townships | |
|------------------------------------------------------------|
|Broughton |Eastern |Quartz veins system outcrop |
| |Townships | |
|------------------------------------------------------------|
|Beaudoin Mine|Eastern |Closed Silica Metal Mine |
| |Townships | |
|------------------------------------------------------------|
|Bourque Mine |Eastern |Closed Silica Metal Mine |
| |Townships | |
|------------------------------------------------------------|
|Montpetit |Hemmingford|Closed Silica Metal Mine |
|Quarry | | |
|------------------------------------------------------------|
|St-Gedeon |Beauce |Quartz veins system outcrop |
--------------------------------------------------------------
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.
Source: Resources Naturelles du Quebec, Sigeom
2014, Nonmetalic Deposits
Patrick Levasseur,
Uragold President and
COO, remarks: "We are
extremely pleased to have been able to acquire, through map
staking, such a strategic portfolio of high purity silica
(+98.5%SiO2) deposits in Quebec following the January 24, 2014
announcement between the Government of Quebec and the Spanish
company FerroAtlantica.
Our
past experience in the graphite sector, when we acquired and sold
for a profit graphite properties to Canada Carbon, gives us
confidence that we can increase shareholder value while focusing on
advancing the Beauce Placer Gold property and the Golden Hope
Bellechase-Timins deposit into producing gold mines"
(http://www.investquebec.com/international/en/press-room/press-releases/ferroatlantica-chooses-quebec-for-its-new-silicon-metal-plant.html)
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 junior mining company 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
SOURCE: Uragold Bay Resources Inc.
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