Montreal, Quebec / December 16, 2014, / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR) is pleased to announce that it’s wholly owned subsidiary, Quebec Quartz, has received assay results for samples taken on the Roncevaux Quartz (Silica) property located in the Matapedia valley in the Gaspe region of Quebec.
The corrected SiO2 average for the 20 samples assayed is 99.65%, ranging from 99.37% to 99.86%. These results validate the fact that the Quartz material from the Roncevaux Property would make suitable feedstock for Silicon Metal production and applications requiring high purity quartz.
Patrick Levasseur, President and COO of Uragold stated, “We are extremely happy with these results, they have surpassed our initial expectations and validated our decision to focus on our Ronceveaux property since it is situated within 80 kilometers from a deep-sea harbour that can handle bulk shipments for worldwide exports, less then 300 Km from the future FerroAtlantica Port Cartier Silicon Metal production facilities and less then 500 Km Globe Specialty Metals Becancour silicon metal production facilities.”
In 2003, an exploration potential of ? 400,000 tons of SiO2 was calculated using the 360 m surface length of the Quartz vein, its average width (between 3 m and 12m) and assuming a continuation up to 50 M of depth. (GM60610: Barrette, Jean-Paul. 2003. Rapport des travaux d’exploration miniere sur la veine de quartz pur. Projet Silice Roncevaux, Canton Roncevaux, Gaspesie).
IMPORTANCE OF QUARTZ (SILICA)
Quartz (SiO2) is one of the most abundant minerals. It occurs in many different settings throughout the geological record. However, high Purity Quartz deposits with low impurities are rare and only a few deposits are suitable in volume, quality and amenability to be tailored to refining methods for specialty high purity applications.
High Purity Quartz (HPQ), and Silicon Metal is used in large part in the aluminum industry while Ultra High Purity Quartz (UHPQ) 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.
GO FORWARD PLAN:
The Corporation intends to advance the development of the Roncevaux project by completing the following steps during Q1 & Q2 2015:
- 1.Send material to specialized laboratories to find the best beneficiation process to transform the Roncevaux Quartz material into Ultra High Purity Quartz for advanced material and pharmaceutical applications.
High Purity Quartz beneficiated to 99.998% Si02 can command prices up to
US$ 6,000/T (Source: Dorfner Anzaplan). The Corporation intends to focus its interest on this segment of the market.
Quartz for Silicon Metal the sales price averages between US$ 100/T to US$ 250/T.
- 2.Send quartz samples to Silicon Metals and other material buyers.
Multiple end-users have approached the Corporation. Having now received our own lab results, the Corporation is ready to start direct discussion with interested parties.
- 3.Evaluating the Property Potential.
The exact volume of the quart vein systems found on the Roncevaux Property needs to be confirmed and measured; and quartz occurrences contained in the new claims staked by Quebec Quartz after the first work programme need to be explored.
Mr. Levasseur added, “2015 will be an exciting year as we continue to develop Quebec Quartz’s exciting high purity silica projects while developing two gold mines in the Beauce region of Quebec.”
PARTIAL TABLE OF RESULTS:
| Report Number: A14-09140 | |||||||
| Analyte Symbol | SiO2 | Al2O3 | Fe2O3(T) | LOI | Total | SiO2 | |
| Unit Symbol | % | % | % | % | % | Corrected | |
| Detection Limit | 0.01 | 0.01 | 0.01 | 0.01 | for lost | ||
| Analysis Method | FUS-XRF | FUS-XRF | FUS-XRF | FUS-XRF | FUS-XRF | Carbonate | |
| 41962 | 98.46 | 0.02 | 0.02 | 0.12 | 98.64 | 99.82% | |
| 41962-B | 98.67 | 0.15 | 0.03 | 0.12 | 99.00 | 99.67% | |
| 41963 | 98.59 | 0.07 | 0.02 | 0.18 | 98.88 | 99.71% | |
| 41963-B | 98.57 | 0.17 | 0.03 | 0.28 | 99.11 | 99.46% | |
| 41964 | 99.37 | 0.25 | 0.02 | 0.19 | 99.88 | 99.49% | |
| 41964-B | 98.76 | < 0.01 | 0.01 | 0.15 | 98.95 | 99.81% | |
| 41965 | 98.99 | 0.16 | 0.01 | 0.15 | 99.34 | 99.65% | |
| 41965-B | 98.82 | 0.13 | 0.02 | 0.18 | 99.18 | 99.64% | |
| 41966 | 99.85 | 0.10 | 0.03 | 0.17 | 100.20 | 99.65% | |
| 41966-B | 99.07 | 0.04 | 0.01 | 0.22 | 99.37 | 99.70% | |
| 41967 | 98.47 | 0.04 | 0.01 | 0.16 | 98.70 | 99.77% | |
| 41967-B | 99.32 | 0.29 | 0.08 | 0.17 | 99.92 | 99.40% | |
| 41968 | 100.23 | 0.08 | 0.01 | 0.17 | 100.50 | 99.73% | |
| 41968-B | 99.92 | 0.17 | 0.04 | 0.16 | 100.30 | 99.62% | |
| 41969 | 98.72 | 0.25 | 0.02 | 0.22 | 99.31 | 99.41% | |
| 41969-B | 98.00 | 0.26 | 0.05 | 0.23 | 98.62 | 99.37% | |
| 41970 | 100.16 | < 0.01 | 0.01 | 0.16 | 100.30 | 99.86% | |
| 41970-B | 100.38 | < 0.01 | 0.02 | 0.16 | 100.60 | 99.78% | |
| 41971 | 99.96 | 0.03 | 0.01 | 0.15 | 100.20 | 99.76% | |
| 41971-B | 99.87 | < 0.01 | 0.02 | 0.14 | 100.10 | 99.77% | |
| Average | 99.21 | 0.14 | 0.02 | 0.17 | 99.56 | 99.65% |
The average losses in ignition (“LOI”) (material and moisture burned off during the assays) for the 20 samples is 0.17% (ranging between 0.12% and 0.23%) this suggest that a certain percentage of the alkali metals are present as a carbonate molecule, and with an average laboratory total of 99.55% (ranging between 98.88 % and 100.6%), a correction for the lost of carbonate is required in order to present the actual SiO2 grade of the samples.
Assay results confirm that the material is low to very low in all the major contaminants: Al2O3 average: 0.14%, range from <0.01% to 0.29%, Fe2O3 average: 0.02%, range from 0.01% to 0.08%, Co3O4 all samples <0.005%, CuO all samples <0.005%, MnO all samples <0.001%, NiO 15 samples <0.003%, the rest ranging from 0.003% to 0.012%, MgO all samples <0.01%, CaO 18 samples <0.01%, Na2O all samples <0.01%, K2O 8 samples <0.01%, the rest ranging from 0.01% to 0.03%, TiO2 9 samples <0.01%, the rest 0.01%, P2O5 average: 0.02%, range from 0.01% to 0.04%, Cr2O3 all samples <0.01%, V2O5 all samples <0.003%.
The samples were taken over the historical quartz vein from parallel trenches along a 360 m long quartz vein that varied between 3 m and 12 m in width. Samples weighing approximately 10 kg each along with a 3 kg duplicate were bagged on site. Ten samples were taken from each site and the field crew brought back approximately 130 kg.
The material was first sent to the INRS (Institut National de la Recherche Scientifique) laboratory in Quebec City to be prepared for testing for High Purity Silica and Silicon Metal potential. 20 prepared samples (an original and a duplicate) were sent to the Activation Laboratories in Ancaster, Ontario for whole rock and trace elements (FUS X-Ray Fluorescence (“XRF”)) assay.
Click Image To View Full Size
Picture 1: Field sample from the Roncevaux Property, Sample # 41765 tested 99.65% SiO2
Click Image To View Full Size
Picture 2: Visible showing of the Quartz veins on the Roncevaux Property.
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 the information on exploration potential herewithin 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.
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 Quartz (+99.+% SiO2) deposits and closed silicon metal mines in Quebec represent a unique and valuable asset. Quebec’s Quartz aims to become a leading supplier of Ultra High Purity Quartz
About Uragold Bay Resources Inc.
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
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