WHY GARIBALDI RESOURCES CORP?
- $1.7 million in working capital as per latest financials (Apr 30)
- Attractive share structure
- no warrants, no major financings since 2009
- Drilling in progress – strong news flow from Mexico and B.C.
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INTERVIEW: Garibaldi (GGI: TSX-V) discusses surface sampling which recently returned high-grade silver up to 8,000 g/t Ag + high-grade gold up to 52.6 g/t Au
Posted by
at 4:56 PM on Wednesday, September 24th, 2014
CLIENT FEATURE: Garibaldi (GGI: TSX-V) Surface sampling recently returned high-grade silver up to 8,000 g/t Ag + high-grade gold up to 52.6 g/t Au
Posted by
at 11:02 AM on Tuesday, September 23rd, 2014
WHY GARIBALDI RESOURCES CORP?
- $1.7 million in working capital as per latest financials (Apr 30)
- Attractive share structure
- no warrants, no major financings since 2009
- Drilling in progress – strong news flow from Mexico and B.C.
LEADERSHIP. MOVING FORWARD. BUILDING VALUE.
- Synergistic mix of business, market & geological expertise
- Drilling underway at La Patilla Gold Property (high-grade targets) plus multiple drill-ready targets at 3 district-scale projects in Mexico
- Largest landholder (262km2) among juniors in Sheslay Cu – Au porphyry discovery area at top of B.C’s Golden Triangle
GARIBALDI APPROACH AND ADVANTAGE IN MEXICO
Through the strength of its geological team and the use of cutting- edge technology and proprietary data, Garibaldi has built a foundation for lasting success in Mexico:
- GGI continues to accurately pinpoint the most prospective targets for potential new discoveries in large, district-scale land packages
- Project value is being cost-effectively unlocked
- Financial strength is being built (i.e., sale of Temoris option, current Tonichi pilot coal program generating royalty income)
La Patilla Project
- First-ever diamond drilling at the La Patilla gold property in Sinaloa state has returned highly encouraging gold values near-surface, including an interval grading 10.4 grams per tonne gold over 8.5
- Five of six holes drilled to test the La Patilla vein system intersected broad zones of mineralization along 75 metres of strike length to depths of approximately 50 metres
Rodadero North Project
- Drilling along almost 100 meters of strike length has returned significant high-grade silver intersections within 50 meters of surface, and mineralization remains open in all directions;
- SE-14-03 intersected 1,935 g/t Ag (62.2 oz/t) between 4 and 5 meters’ depth while the most recent hole (SE-14-06) – the farthest step-out from previously reported discovery hole SE-14-01 – has produced the widest mineralized intercept to date;
- Surface sampling at three target areas immediately southeast and east of Silver Eagle has returned high-grade silver (up to 8,000 g/t Ag) in addition to high-grade gold (up to 52.6 g/t Au) as explained further in this update;
- As Garibaldi commences a second round of drilling at Silver Eagle, the total number of mineralized target areas within the 45 sq. km Rodadero North Project has increased from eight to 11.
- Phase 2 diamond drilling continues, surface sampling results from mineralized outcrops indicate continued high silver values in addition to a significant increase in base metal content (up to 14.9% lead and 1.8% zinc) 1.5 km to 3 km south of discovery hole SE-14-01.
NORTHWEST B.C. – DOMINANT LANDHOLDER IN EMERGING SHESLAY CAMP
- Successful exploration methods developed in Mexico are now being adopted to rapidly advance the company’s 100%-owned Grizzly Property
- Multiple targets are being identified over 15 km from Grizzly West to Grizzly Central
- GGI is the largest landholder among juniors in this highly prospective, under-exploited new Cu-Au porphyry discovery area in prolific Stikine Arch
- Recently announced that it has acquired two highly prospective Cu-Au porphyry properties within the Stikine Arch
Red Lion
- The Red Lion prospect, comprising 35 sq. km, is located 60 km south of AuRico Gold’s Kemess mine and adjoins the Kiska Metals’ Kliyul Cu-Au porphyry project under option to Teck Resources Ltd. The Red Lion shows extremely strong Cu-Au stream sediment geochemistry in both Government Regional Geochemical Survey responses and follow-up proprietary surveys. Access and infrastructure at Red Lion are excellent with the powerline to the Kemess South mine only three km away.
Mount Sister Mary (MSM)
- The MSM prospect, comprising 58 sq. km, is located approximately 50 km northeast of Imperial Metals’ Red Chris mine and is underlain by similar Triassic and Jurassic volcanic and plutonic rocks. Government Regional Geochemical Survey responses confirm prior assessment work in which at least eight Cu-Ag-Au showings have been documented on the property.
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KWG Makes International Patent Claim; Steel and Chrome Giants Interested in Offtake and Marketing Alliance, Engineering and Construction
Posted by
at 10:42 AM on Monday, September 22nd, 2014
TORONTO, ONTARIO–(Sept. 22, 2014) – KWG Resources Inc. (TSX VENTURE:KWG)(FRANKFURT:KW6) has filed an international patent application under the Patent Cooperation Treaty. This will provide KWG with the right to file patent applications in over 140 countries around the world in order to secure its rights to its new method of refining chromite ore into ferrochrome by means of natural gas. The disclosed subject matter of this PCT application is supported by results of ongoing metallurgical tests being conducted on behalf of KWG by XPS Consulting and Testwork Services.
KWG has received expressions of interest in creating two strategic alliances:
- A global steel company has proposed to provide project engineering and construction expertise and to market intermediate products for primary stainless steel casting. In this regard, KWG is studying the opportunity to build a facility to produce custom-made stainless steel billets for global export to stainless steel makers for remelting and dilution with iron.
- A large ferrochrome producer has proposed a strategic marketing alliance for the global charge chrome market.
The parties are mutually exploring terms for offtake agreements for such products that could support future project financing facilities. These plans are being developed based on the commercial potential of the new method of refining chromite ore into ferrochrome by means of natural gas disclosed in the patent application. The customized cast billets contemplated for production at the proposed casting plant could become an export vehicle for the combined content of Canadian chromium, nickel and iron and the hydro-electricity and natural gas consumed to produce them.
About KWG: KWG has a 30% interest in the Big Daddy chromite deposit and the right to earn 80% of the Black Horse chromite where resources are being defined. KWG has also acquired patent interests, including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. KWG also owns 100% of Canada Chrome Corporation which has staked claims and conducted a $15 million surveying and soil testing program for the engineering and construction of a railroad to the Ring of Fire from Exton, Ontario.
Neither 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.
Cautionary Note Regarding Forwardâ€Looking Statements: This Press Release contains or refers to “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”. All information, other than information regarding historical fact that addresses activities, events or developments that KWG believes, expects or anticipates will or may occur in the future is forward-looking information. Forward-looking information contained in this Press Release is subject to a number of risks and uncertainties that may cause the actual results of KWG to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, KWG. Risks and uncertainties may include: the general risks associated with the mining industry, adverse changes in commodity prices, currency and interest rate fluctuations, increased competition and general economic and market factors, risks associated with exporting custom steel billets, the risk that the new method of refining chromite ore into ferrochrome by means of natural gas that is the subject of the PCT application does not prove efficient or economical, the scope, likelihood of grant, enforceability, infringement, freedom to operate, or commercial value relating to the patent applications to be used to support the commercialization of the new method of refining chromite ore into ferrochrome by means of natural gas is worse than expected, the grant or approval of a patent on any invention disclosed in the patent applications relating to the commercialization of the new method of refining chromite ore into ferrochrome by means of natural gas is limited or does not materialize, completion of the off-take agreements does not materialize, completion of the strategic alliances does not materialize, the results of any feasibility studies, design, engineering or construction of the proposed project are worse than expected, or assumptions underlying the forward looking statements prove incorrect. We do not intend and do not assume any obligation to update these forwardâ€looking statements, except as required by law. Readers are cautioned not to put undue reliance on such forwardâ€looking statements.
Shares issued and outstanding: 777,842,468
KWG Resources Inc.
Bruce Hodgman
Vice-President
416-642-3575
[email protected]
INTERVIEW: Uragold Bay Resources Goes “Beyond The Press Release” to Discuss Recent Acquisition
Posted by
at 8:14 PM on Thursday, September 18th, 2014
Bernard Tourillon, Chairman, CEO and Director of Uragold Bay Resources goes “Beyond The Press Release” to discuss Letter Of Intent Regarding the Acquisition of 32 Claims Covering the Section of the 6.5 KM Long Historical Beauce Paleoplacer Gold Channel not Owned by Uragold.
Uragold and Fancamp Sign a Letter Of Intent Regarding the Acquisition of 32 Claims Covering the Section of the 6.5 KM Long Historical Beauce Paleoplacer Gold Channel not Owned by Uragold
Posted by
at 8:35 AM on Wednesday, September 17th, 2014
Montreal, Quebec / September 17 2014 / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR) is pleased to announce that it has signed a letter of intent with Fancamp Exploration Ltd. (“Fancamp”) (TSX Venture: FNC) regarding the acquisition of 32 claims encircling Uragold’s Beauce Placer Gold Project located in the municipality of Saint-Simon-les-Mines in the Beauce region of southern Quebec.
Uragold’s current Beauce paleoplacer project, 5 claims situated between the Rang Chaussegros and the Rang Gustave, covers only twenty-six percent (26%) of the entire historical paleoplacer gold channel. When the transaction closes, Uragold’s claims block will cover the full 6.5 km long historical Paleoplacer gold channel.
Click Image To View Full Size
Figure 1. Historical Paleoplacer identified by Beauce Place Company in 1959 (Orange). Uragold original Beauce Claims (Blue). Zones were Uragold delineated an Inferred Resources in Mars 2014 (Thick Orange). Fancamp Claims subject to Letter of intent (Red).
In 1959, the Beauce Placer Gold Mining Company defined a drilled historical resource of 168,952 Au oz (12,978,710 m3 @ 0.405 g/m3) (June, 1959 – GM08785) on a channel defined as ranging from Rang St-Charles through to Rang Delery, Rang Chaussegros, Rang St-Gustave all the way to Rang 6. (V. Stuart-Williams, Beauce Placer Property NI 43-101 Technical Report, February 2014). 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.
Studies by Uragold of the auriferous basal till and the underlying saprolite suggest a close proximity source of gold, and since the acquired claims cover an extensive area of the Gilbert river valley this increases the chances that the unknown Bellechasse / Timmins type deposit mentioned in our March 27, 2014 press release will be found on Uragold claims.
Salient points of the non-binding letter of intent are:
- 1.Uragold and Fancamp intend to enter into a definitive written Agreement for the acquisition by Uragold of a 32 claim block contained in the Appalachian Properties that surrounded the Uragold Beauce Property (herein, collectively the “Claims”) (“The Acquisition”) within thirty (30) days.
- a.As consideration for the transfer and the sale of the Claims and related assets to Uragold, Uragold will issue, at the closing an amount equal to 8,000,000 Uragold Units. Each Unit will be comprised of 1 common share and 1 common share purchase warrant (the Warrant”) of Uragold.
- b.Each full Warrant will entitle Fancamp to purchase one common share of the capital stock during a period of 60 months from the date of the issuance of the Units. Each Warrant shall entitle Fancamp to purchase one (1) additional common share of Uragold at a price of C$0.20 per share during the first 24 months from the date of issuance of the units, at a price of C$0.30 from the start of the 25th month until the end of the 48th month, and at a price of C$0.40 per share at the start of the 49th month until the end of the 60th month.
- 2.Contemporaneously with the signing of the definitive Agreement:
- a.Uragold will make a cash payment of C$25,000 to Fancamp within six (6) months of the Signature of the definitive Agreement.
- b.Uragold will finance C$400,000 worth of exploration work on the Claims over the next 4 years, under the following schedule, Year 1: C$50,000, Year 2: C$75,000, year 3: C$100,000 and year 4: C$175,000.
- c.Uragold will grant Fancamp a three and one half percent (3.5 %) Gross Metal Royalty on any gold production extracted from the 32 Claim block acquired by Uragold.
- 3.Fancamp and Uragold will sign a Covenant regarding the sale of Uragold shares held by Fancamp.
- a.Included in the Covenant will be a Standstill agreement whereby Fancamp agrees not to sell any of its Uragold shares (“Standstill”) during a twelve (12) month period (“Standstill Period”) starting on the day of the issuance of the Uragold Units to Fancamp.
- b.The Covenant will also include a Change of Control Clause whereby in the event that a Change of Control event occurs at Fancamp, then either the Standstill Period will be automatically increased by thirty six (36) months or a new thirty six (36) months Standstill Period will start.
- c.Included in the Covenant will be a Vote with Management Clause whereby Fancamp agrees to votes all of its shares proxy in favor of Uragold Management.
- 4.Once Gold Mining operations have begun on the Claims purchased, Uragold will make a one-off cash payment of C$500,000 to Fancamp.
Both Parties are actively working to finalize the definitive written Agreement by end of next week, once both Parties obtain final board approval. The transaction is also subject to the approval of the TSX Venture Exchange.
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 that: “This acquisition will change the whole dynamics of the Beauce Paleoplacer Gold project. It could significantly increase the size and scope of our project.” Mr. Levasseur went on to add: “We are extremely pleased to have a highly experienced exploration company such as Fancamp as a large shareholder of Uragold”.
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
Excellent Results at New Lexaria Oil Well
Posted by
at 8:19 AM on Tuesday, September 16th, 2014
Excellent Results at New Lexaria Oil Well
Kelowna, BC /September 16, 2014 / Lexaria Corp. (LXRP-OTCQB) (LXX-CNSX) (the “Company” or “Lexaria”) is very pleased to report excellent oil production rates at the new PPF-12-7 oil well at Belmont Lake, Mississippi. The well is now flowing and selling oil.
As of Friday September 12, the well was producing approx 120 bo/d on a 12/64th choke. For Sept 13 it produced 119 bo/d on an 11/64th choke; and on Sept 14 it produced 119 bo/d on a 10/64th choke. No formation water has been produced. Flowing pressures increased each day as choke sizes were reduced, indicating healthy reservoir pressures. This is one of the highest flow rates ever for a Belmont Lake well, and more than meets Lexaria’s expectations. The 12-7 well is located further east than any other existing well in Belmont Lake field, further expanding the producing boundaries of the field which are still undetermined.
The operator and owners intend to restrict this well to 90 bo/d for the intermediate term on an even more restricted choke, and to monitor the well over time to optimize production in the short and long terms. This allows for more prudent operation of the well and field over time, as many Frio-formation wells can produce oil for as long as 10 or 15 years.
Although earlier sidewall core analysis indicated 19-20 feet (true vertical depth) of oil bearing pay, only the upper 8 feet of the well was perforated in order to stay above the oil/water contact zone.
“Taken within the context of this conservative perforation technique and the restriction from the small choke size, I view the oil production rates from this well as even more positive,” said Chris Bunka, President.
Lexaria congratulates its operator and co-owners of the 12-7 well as the Belmont Lake oil field continues to provide positive results.
Additional information, including longer term performance, will be released when available. Griffin & Griffin Exploration, LLC is the operator of the well which was drilled in Section 41, Township 2 North – Range 4 West of Wilkinson Country, Mississippi.
Lexaria retains a 42% working interest in the producing 12-1 and 12-3 wells; a 50% working interest in the suspended 12-4 and 12-5 wells; and a 13.3% working interest in the 12-7 well. Lexaria is actively reviewing all possible ways of maximizing value from the Belmont Lake oil field assets.
About Lexaria
Lexaria’s shares are quoted in the USA with symbol LXRP and in Canada with symbol LXX. The company searches for projects that could provide potential above-market returns.
To learn more about Lexaria Corp. visit www.lexariaenergy.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Lexaria Corp.
Chris Bunka
Chairman & CEO
(250) 765-6424
FORWARD-LOOKING STATEMENTS
This release includes forward-looking statements. Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including statements that include words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions are forward-looking statements. Such forward-looking statements are estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, weather, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. There can be no assurance that road or site conditions will be favorable for field work; no assurance that well treatments or workovers will have any effect on oil or gas production; no assurance that oil field interconnections will have any measurable impact on oil or gas production or on field operations, and no assurance that any expected new well(s) will be drilled or have any impact on the Company. There can be no assurance that expected oil and gas production will actually materialize; and thus no assurance that expected revenue will actually occur. There is no assurance the Company will have sufficient funds to drill additional wells, or to complete acquisitions or other business transactions. Such forward looking statements also include estimated cash flows, revenue and current and/or future rates of production of oil and natural gas, which can and will fluctuate for a variety of reasons; oil and gas reserve quantities produced by third parties; and intentions to participate in future exploration drilling. Adverse weather conditions including but not limited to surface flooding can delay operations, impact production, and cause reductions in revenue. The Company may not have sufficient expertise to thoroughly exploit its oil and gas properties. The Company may not have sufficient funding to thoroughly explore, drill or develop its properties. Access to capital, or lack thereof, is a major risk and there is no assurance that the Company will be able to raise required working capital. Current oil and gas production rates may not be sustainable and targeted production rates may not occur. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company’s public announcements and filings. There is no assurance that the completion of the 12-7 well or the new production facility will continue to produce commercial quantities of oil.
The CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Quebec Quartz Completes Previously Announced Exploration Program on the Montpetit Quarry, The Martinville and The Malvina Silica Properties
Posted by
at 10:41 AM on Monday, September 15th, 2014
Montreal, Quebec / September 15 2014 / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR) is pleased to announce that it’s wholly owned subsidiary, Quebec Quartz, has successfully finish the sampling programs over the historical quartz and quartzite showings on the Montpetit Quarry, and the Martinville and Malvina Silica properties. A map of the properties can be viewed here: http://www.uragold.com/Quebec-Quartz.php.
The Montpetit Property is located in the Monteregie Region of Quebec, some 40 km south of Montreal and 7 km south of Saint-Clotilde-de-Chateauguay. The Quebec-New-York border is 10 km from the property. The property is located on NTS map sheets 31H/04 (1:50,000 scale). Farms fields and forest, owned by private landowners, mostly cover the region.
A review of the historical work indicates that the quarry operated for one (1) year and that the deposit is composed of consolidated beach sand that was highly purified by segregation, sorting and leaching. Through natural Diagenesis, overtime the sand was transformed into a quartzite.
In 1956, six thousand (6,000) tons was mined from a 100 m long by 30 m large and 2 m deep tranche. The quartzite material mined was shipped to Electro-Metallurgical, where it averaged a SiO2 purity of 99.27% and was used to produce ferrosilicon.
The Quebec Quartz field crew, consisting of a geologist and a technician, performed the sampling program over the historical quartzite showing on the claims. The historical quarry is 100 m long by 35 m large and is inside a tabular orthoquartzite. This sandstone (Cairnside sandstone) is well spread all around the area. In order to have a good sampling spread, 5 samples were taken at different zone of the quartzite. Each quartzite layer along the stratigraphy has been sampled.
Click Image To View Full Size
Figure 1. This is a picture of Cairnside sandstone from the Montpetit Property.
The Martinville Property is located 180 km east of Montreal and 30 km south of Sherbrooke. The property is located on NTS map sheets 21E/05 (1:50,000 scale). Private forests and small farms mostly cover the region.
A review of the historical work indicates that Constelar Geosciences carried an extensive survey of the Property in 1995. This geophysics survey associated with excavation and rock sampling work done then enabled the estimation of a (non NI 43-101 compliant) quartzite resource of 1 million tons. 70% of the quartzite samples tested over 90% Si02. The quartz is found in large hydrothermal veins that were followed for 100 m.
The Quebec Quartz field team performed a sampling program over the historical the quartzite body. Three production holes have been found and many blocks had been removed from the veins. Samples were taken on different zones of the diggings. A total of 8 samples were collected in order to have representative’s samples for the area.
Click Image To View Full Size
Figure 2. This is picture of Quartz Vein samples taken from the Martinville Property.
The Malvina Property is located in the Eastern Township, some 200 km east of Montreal and 5 km from the Quebec-New-Hampshire border. The property is located on NTS map sheets 21E/03 (1:50,000 scale). Private forests and small farms mostly cover the region.
A review of the historical work indicates that the Malvina showing hosted a producing quarry in the past. At the time the quartz was mined for its whiteness.
The Malvina showing was reviewed in 1995 and the exploration campaign revealed that the mineralization appears to take place in a 15 m by 6 m lens. Samples taken indicate that high purity quartz (99.74% SiO2) is present. The mineralization seems to be linked with a post orogenic event that created several shear zone filled with hydrothermal quartz.
The Quebec Quartz field crew was successful in finding the historic quartz vein. The outcrop is a 12 m by 6 m quartz vein. The quartzite body on the Property was assayed, 3 channel samples were taken. Another quartz showing was identified to the field crew by the landowner and corresponds to an old exploitation gallery following a quartz vein. A grab sample was taken from the gallery.
Click Image To View Full Size
Figure 3. This is picture of a Quartz Vein taken on the Malvina Property
Source: Resources Naturelles du Quebec, Sigeom 2014, Work Reports GM54343, GM53695, GM03695. 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.
All the samples and the duplicates are blocs that range in sizes between 10cm3 to drill core size to allow thermal testing. The Company has sent all the samples collected to the INRS (Institut National de la Recherche Scientifique) laboratory in Quebec City. The INRS will prepare the samples to remove mineral contaminants caused by the sampling tools, handling and weathering. Various tests will be performed such as chemistry analysis, thermal shock, particle shape, size and distribution.
Patrick Levasseur, President and COO of Uragold stated, “we are extremely pleased that the field crew was able to find the historical quartz showings, extract samples and confirm that there still remains significant quantity of material present.” Mr. Levasseur then added, “The accessibility to the properties was exceptional and we express our gratitude to all land owners for their help and collaboration.”
To fully comply with high purity quartz industry standards, several constant parameters must be met including: 1) Chemistry; 2) Particle shape, size and distribution; 3) Hydroxyl level and; 4) Carbon content. These four characteristics are fundamental for the successful production of high purity quartz to a commercially acceptable product standard. Samples will be sent to an independent lab, silicon metal producers and specialized labs that supply high purity quartz to high tech companies.
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 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.
About Quebec Quartz
Uragold acquired some of the most prospective historical High Purity Quartz deposits with High Purity Silica (+99.5% SiO2) (HPS) values in Quebec during Q2 2014. Quebec Quartz is a 100% own subsidiary of Uragold Bay Resources, a junior exploration company listed on the TSX Venture under the symbol UBR. Quebec Quartz holds a strategic portfolio of high purity silica (+99.5% SiO2) deposits and closed silicon metal mines in Quebec.
About Silica
Quartz 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
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
CLIENT FEATURE: (UBR: TSX-V) Leader in High Purity Quartz Exploration in Quebec
Posted by
at 11:55 AM on Thursday, September 11th, 2014
Why Uragold Bay Resources?
- High Purity Silica (HPS) and Silicon Metal 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
Uragolds business model focuses on developing low-risk, low-cost gold mining operations while exploring on core properties that hold the potential of discovering world class gold deposits. The Company’s properties are located in Canada in the Appalachian region of the province of Quebec. The properties benefit from extensive historical exploration work and from well-established infrastructure thereby helping to reduce exploration risks.
What are High Purity Quartz and Silicon Metal?
High Purity Quartz
- High Purity Quartz (HPQ) has a purity level in excess of 99.997% and is extremely rare.
- Used in the semiconductor industry to produce crucibles and quartz glass products, such as windows, rods, and tubes [Source].
-
Also used in the production of silicon metal, which is the base for the semiconductor wafers, made using the Czochralski Process[Source].
-
High purity quartz deposits with low impurities are rare, world supplies are tightening and HPS prices are rising [Source ].
-
Demand for HPQ is growing with the high tech industry and the price for premium HPQ can vary between US$ 8,000 to US$ 25,000 or more per ton depending on the specifications needed for the final application [Source ].
Metallurgical Silicon Metal
-
Metallurgical Silicon Metal has a purity of 98.5% or higher and is used as an alloying agent in the aluminum industry due to its ability to increase the strength of aluminum [Source].
-
Adding Silicon Metal to aluminum alloys makes them strong and light [Source].
-
As a result they are increasingly used in the automotive industry to replace heavier cast iron components [Source].
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Allows weight reductions and a reduction in fuel consumption [Source].
-
Demand for aluminium has increased 5% CAGR over the past 20 years [Source].
-
It has also been reported that the solar industry will have it’s first global panel shortage since 2006 [Source].
-
It 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
-
Silicon Metal with 98.50% SiO2 purity sells for about US$ 3,200 per ton (or US$ 1.45 US a pound) [Source].
Martinville, Malvina and the Montpetit Quarry Silica Properties
Company announced that it’s wholly owned subsidiary, Quebec Quartz, has initiated a work program and is starting the evaluation process of its Martinville, Malvina and the Montpetit Quarry Silica properties.
Fieldwork will first start on the Martinville property where a Historical Resource of 1,000,000 tons was declared and where samples of up to 99% SiO2 were found and then continue to the Malvina property where sample as high as 99.74% SiO2 were reported. Historical records indicate that the samples were taken from quartz vein systems described as clear white quartz with limited fracturing. Both properties are located approximately 40 km south east of Sherbrooke in the Eastern Townships of Quebec.
The Montpetit Quarry is located in Hemmingford Quebec, 70 km south of Montreal. Historical records indicate the silica mined in the 1950s from the quarry was used for ferro-silica production. In 1956, 3,000 tons of sandstone quartzite was analyzed and the average result for SiO2 was 99.27% indicating that the silica from this property could be suitable for silicon metal production. The silica is described as originating from very pure quartzite sandstone from the Cairnside geological formation
Developing Quebec’s First Placer Gold Mine
Beauce Placer Gold Project is located in the municipality of Saint-Simon-les-Mines in the Beauce region of southern Quebec. The project has all the required environmental permits to start its operations, and is in the final stage for obtaining a 20 year mining lease for a placer gold mining operation. It will be Quebec’s first placer mine in 50 years.
The Company declared inferred resource of 23,000 oz. AU (741,000 m3 @ 0.97 g Au/ m3) on the Rang Chaussegros section. The importance of the nugget effect on the project potential is such that gold recovery could be between 23,000 (741,000 m3 @ 0.97 g Au/ m3) and 140 000 ounces (741,000 m3 @ 5.9 g Au/ m3), as per data derived from the historical mining figures.;
Developing an open pit gold mine in the Beauce
In April 2014, Uragold singed a definitive option agreement with Golden Hope Mines (“GNHâ€) concerning the advancement of the Bellechasse-Timmins (BT) Gold Deposit into a producing mine.
In August 2012, GNH published a resource estimate of an indicated resource of 313,900 ounces gold (2.9 million tonnes grading 3.36 g/t Au) and an inferred resource of 102,000 ounces gold (2.17 million tonnes grading 1.46 g/t Au) using a cut-off grade of 0.60 g/t. Furthermore, GNH’s many bulk-sampling campaigns revealed extensive areas of surface mineralization averaging approximately 3 g/t Au. Notable were sampled areas averaging up to 10 g/t Au (Trench 09A).
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.
Under the terms of the Option Agreement, Uragold will be responsible for obtaining all required permits, approvals, and documentation associated with going into production, in return for a 30% interest in the property. Uragold will then have 120 days to obtain project financing, which, if successful, will earn it a further 20% interest, giving Uragold a 50% interest in the B-T deposit. The companies will then form a Joint Venture (JV) for the operation of the mine, with Uragold serving as operator. GNH will have a carried interest into production, and will receive a 50% Net Proceeds Royalty (“NPRâ€) on the gold produced.
- 38,000 meters drilled, 2010 to 2012
- Gold Recovery:
- Gravity separation up to 92%
- Total gold (gravity + cyanidation) 99%
- Less than 1% Bellechase-Belt explored
- Located in the municipality of Saint-Magloire, in the Beauce region of Quebec
- 1 ½ hour drive south of Quebec City
- 3 ½ hours from Montreal
- Accessible year round on all paved roads, close to urban infrastructures
Moe River Gold Property
The Moe River Property is located in the southwestern part of the Quebec Appalachians in the Eastern Townships region of the Province of Quebec.
The gold bearing gravels of the Moe river valley has attracted prospectors since the 1900. Between 1958 and 1962, Tamara Mining Limited worked in the Moe River area, under the direction of G. A. Blair, P.Eng. Blair defined a historical resource based on the volume of gravels in the terraces along the river. He concluded that there were between 45 to 48 million cubic yards of material in all of the terraces containing a total of 400,000 ounces of placer gold.
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Tesla’s Reno ‘Giga-Factory’ choice steps company toward mass produced EV
Posted by
at 9:38 AM on Friday, September 5th, 2014
Proposed 10k-sq-ft facility projected to be running by 2017 for Model 3 launch.
September 4, 2014
by By JUSTIN PRITCHARD and SCOTT SONNER, Associated Press
RENO, Nev. — To bring electric cars to the masses, Tesla Motors will transform an expanse of desert where pioneers passed on their way to the California Gold Rush and wild mustangs still roam the hillside.
This time, the rush will be in Nevada, which Tesla chose over four other states as the site for a $5 billion factory that the carmaker projects will crank out enough high-tech car batteries to power 500,000 vehicles annually by decade’s end.
Nevada’s elected leaders still must deliver on the economic incentives they’ve promised, but if they do as expected, Tesla will open its massive factory at an industrial park outside Reno, according to a person familiar with Tesla’s plans. The person spoke on condition of anonymity because no official announcement had been made. An announcement was scheduled for Thursday afternoon at Nevada’s Capitol.
U.S. Senate Majority Leader Harry Reid, D-Nevada, acknowledged Thursday at his Clean Energy Summit in Las Vegas that Tesla was coming to Nevada, and said he had spoken with Nevada Gov. Brian Sandoval about it.
A state synonymous with gambling hit the jobs jackpot — Tesla has said the factory will employ about 6,500 people. That’s a welcome jolt for a tourism-based economy particularly hard hit during the Great Recession.
Tesla’s choice of Nevada over California, Texas, Arizona and New Mexico takes it a big step closer to mass producing an electric car that costs around $35,000 and can go 200 miles on a single charge. That range is critical because it lets people take most daily trips without recharging, a major barrier to the widespread adoption of electric vehicles.
The “gigafactory,†as Tesla calls the project, would bring the cost of batteries down by producing them on a huge scale. Its approximately 10 million square feet, equivalent to about 174 football fields, would be running by 2017. That is when Tesla hopes to introduce its Model 3,
At present, demand for electric vehicles is small.
Through August, automakers have sold just over 40,000 fully electric cars this year, up 35 per cent from a year ago, according to the auto website Edmunds.com. Factoring in plug-in hybrids, electric vehicles still account for just 3.6 per cent of all new car sales, a slight drop from last year. Still, government fuel economy standards that will require new cars and trucks to average 54.5 miles per gallon are expected to drive sales.
Gov. Sandoval’s office wouldn’t comment Wednesday on the gigafactory news, saying only that he would make a “major economic development announcement†Thursday. A spokesman for Tesla Motors Inc., based in Palo Alto, California, said company representatives would be at the Capitol in Carson City for the announcement but offered no other details.
Sandoval has declined to discuss incentives he has offered Tesla. Based on CEO Elon Musk’s public statements, the incentives likely total at least $500 million. The governor would have to call a special session of the Legislature to approve tax breaks, grants or other incentives of that magnitude.
This spring, Musk announced that the company would take the unusual step of spending millions to prepare sites in two states _ or perhaps even three _ before choosing a winner. The person familiar with Tesla’s plans told The Associated Press a second site still will be prepared, in case Nevada is unable to deliver the incentives it has promised, or possibly to build a second factory.
Tesla has done excavation and other site-preparation work at the Tahoe Reno Industrial Center, where it plans to build the factory, but had not publicly committed to building in Nevada until it tested what economic incentives other states offered. The centre is about 15 miles east of Sparks, a Reno suburb founded as a railroad town more than a century ago.
Aside from low tax rates and business-friendly workplace laws, Nevada offered plenty of sun and wind to generate “green†power. The industrial park is only about 200 miles along Interstate 80 from Tesla’s lone auto assembly plant in the San Francisco Bay Area. It’s also near a deposit of lithium, an essential element to produce the battery cells.
Reid said that ready supply was an important part of Nevada’s bid, and pointed to a $28.4 million Department of Energy grant in 2010 for a lithium carbonate and lithium hydroxide plant in Silver Creek, Nevada.
Competition for the factory has been intense among the states, which bid up their incentive packages in private negotiations with Tesla.
In California, where Tesla has its headquarters and manufacturing plant, the decision to build in the state next door stung.
“Tesla was using their business savviness to get states to compete against one another,†said state Sen. Ted Gaines, R-Roseville, a principal proponent of the project. “It’s just that I felt California had the inside track given our history of working in partnership with Tesla.â€
___
Associated Press writers Ken Ritter in Las Vegas, Juliet Williams in Sacramento, California, and AP Auto Writer Tom Krisher in Detroit contributed to this report.
CLIENT FEATURE: Stria Lithium (SRA: TSX-V) Powering The Green Revolution
Posted by
at 12:00 PM on Wednesday, September 3rd, 2014
Why Stria Lithium?
- Aiming to become one of the lowest cost producers in the world for battery- grade technology lithium — critical for high-technology green energy industries.
- Management is key. Stria has assembled a truly world-class, experienced and accomplished team.
- Stria’s strategic, cost-effective exploration substantially reduces the risks and expenditures of exploration by focusing on deposits that are readily available to advance.
- Stria’s unique and extensive experience in understanding and utilizing the latest, most-advanced geophysical tools affords the Company a competitive edge within the industry.
- The lithium market remains robust with tremendous upside potential versus other metals.
A New Source, a new process for technology lithium
Several foreign nations are already stockpiling materials critical to the emerging green technology economy, which means a reliable North American supply of high quality lithium-based products has never been more urgent. Stria believes Canada has a key role to play in the green tech economy, and plan to be a part of it by carving out a supply and technology niche in the critical and strategic metals world.
Proprietary Processing Technologies
Stria President and Chief Operating Officer Julien Davy said the company’s ultimate goal is to produce high-purity (99.999%) lithium metal or other lithium compounds that meet the needs of battery manufacturers for an environmentally sustainable supply option that dramatically reduces costs. “Any lithium process that significantly reduces production costs will help changing the battery market,” said Mr. Davy.
Pontax-Lithium property …
Stria holds 100 per cent ownership of the Pontax-Lithium property located in the west-central James Bay territory in northern Quebec.
The property, which Stria acquired from Khalkos Exploration Inc. in 2013, is host to a recently discovered swarm of a dozen spodumene-bearing (a lithium mineral) pegmatite dikes, each one metre to 10 metres in thickness, plus a series of small centimetre-thick dikelets.
The lithium-bearing dikes outcrop over an area of 450 metres by 100 metres (for more information, click here to view the NI-43-101 Technical Report (Girard,2013) on the Pontax-Lithium Property).
Close-up view of Pontax’s spodumene-bearing pegmatite. The light grey spodumene is idiomorphic and lath-shaped. The intergranular grey mineral is quartz.
Willcox Lithium / Arizona
Stria holds 100 per cent ownership of the Willcox Lithium project, located in Cochise County, Arizona. Acquired through the purchase of Pueblo Lithium LLC from AGR-O Phosphate Inc. in 2014, the property is comprised of 61 lode mining claims.
The purpose of the 2014 Willcox drilling program is to confirm historic exploration results and to test groundwater samples for use in Stria’s proprietary membrane processing technologies now under development. This technology will allow Stria to recover lithium from brine type deposits without the need of large scale evaporation ponds and their associated environmental impacts.
