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
SOURCE: Uragold Bay Resources Inc.