Montreal, Quebec, / November 26 / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR) is pleased to announce it has acquired, through map staking, two (2) silica claims directly adjacent to Sitec Silicium Quebec quartz mine located in the Charlevoix region of Quebec. Sitec Silicium Quebec quartz mine supplies silica for Sitec silicon metal foundry in Becancour and for the Elkem Metal Canada ferrosilicium foundry in Chicoutimi Quebec.
Quebec Quartz, Uragold’s wholly owned subsidiary, intends to explore the claims for quartzite extensions to the north of the Silicium Quebec Mine. The Galette sector of the Charlevoix region is knows to hold high purity quartzites. The regional geology is comprised of a paragenesis and pink garnetiferous granite with units of discernable quartzites within the paragenesis.
Patrick Levasseur, President and COO of Uragold stated, “This is an other great addition to our significant portfolio of high quality silica properties. Mr. Levasseur then added, “We continue to develop Quebec Quartz’s exciting high purity silica projects while developing two gold mines in the Beauce region of Quebec.”
Quartz (SIO2) 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.
“Frac Sand”, is a durable, high-purity quartz sand used to help produce petroleum fluids and prop up man-made fractures in shale rock formations through which oil and gas flows, demand is exploding.
The need for “Frac sand” is turning this segment into the top driver of value in the shale revolution, and this is having a major impact across all High Purity Quartz markets, as material once used to meet the needs of high-tech industries is being diverted to this market to meet product shortage.
“One of the major players in Eagle Ford is saying they’re short 6 million tons of 100 mesh for “Frac sand” alone in 2014 and they don’t know where to get it. And that’s just one player,” Rasool Mohammad, President and CEO of Select Sands Corporation told Oilprice.com.
About Quebec Quartz
Uragold 100 % wholly owned subsidiary, Quebec Quartz, by virtue of being a first mover into this market, succeeded in becoming the largest holder of distinct High Purity Quartz properties in Quebec. Quebec Quartz strategic portfolio of high purity silica (+99.5% SiO2) deposits and closed silicon metal mines in Quebec represent a unique and valuable asset. While different Parties interested in our properties have approached the Corporation, we are waiting until we receive previously announced labs results before advancing these discussions.
Uragold Bay Resources is a TSX-V listed Gold and High Purity Quartz exploration junior focused on generating free cash flow from mining operations. Our business model is centered on developing mining projects suited for smaller-scale start-up, (Capex < C$10M), that will generate high yield returns (IRR > 50%). 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