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Uragold Completes Three Online Interviews Via AGORACOM

Posted by AGORACOM-JC at 4:42 PM on Wednesday, November 5th, 2014

 

Montreal, Quebec / November 5, 2014 / Uragold Bay Resources Inc. (“Uragold”) (TSX Venture: UBR) is pleased to announce that during the first quarter of the AGORACOM online advertising program, we received significant exposure through millions of content brand insertions on the AGORACOM network and extensive search engine marketing.

In addition to all the other services rendered during the first quarter of the AGORACOM online program, we completed the three following interviews:

http://www.smallcapepicenter.com/beyondthepressrelease/AGORACOM-UBR-23Oct2014/

http://www.smallcapepicenter.com/beyondthepressrelease/AGORACOM-UBR-14Oct2014/

http://www.smallcapepicenter.com/beyondthepressrelease/AGORACOM-UBR-18Sept2014/

Patrick Levasseur, President and COO of Uragold stated, “AGORACOM has proven to be a leader in their space and we are happy with their services.” Mr. Levasseur then added, “We intend on continuing our awareness campaign to promote Quebec Quartz exciting new high purity silica projects and the Company’s efforts in developing two gold mines in the Beauce region of Quebec.”

Shares For Services Program

In accordance with the agreement between Uragold and AGORACOM (see Uragold press release July 18, 2014) Uragold Board has approved the issuance of 282,500 common shares at a deemed price of $0.05 per share for the outstanding debt of $14,125 for services rendered during the period ending October 15, 2014.

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

www.uragold.com

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 AGORACOM-JC 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. 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.
    1. 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.
    2. 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. 2.Contemporaneously with the signing of the definitive Agreement:
    1. a.Uragold will make a cash payment of C$25,000 to Fancamp within six (6) months of the Signature of the definitive Agreement.
    2. 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.
    3. 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. 3.Fancamp and Uragold will sign a Covenant regarding the sale of Uragold shares held by Fancamp.
    1. 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.
    2. 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.
    3. 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. 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

CLIENT FEATURE: (UBR: TSX-V) Leader in High Purity Quartz Exploration in Quebec

Posted by AGORACOM-JC 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].

  • 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 (“GNH”) 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 (“NPR”) 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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