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Uragold And Fancamp Sign Final Agreement Regarding The Acquisition Of 32 Claims Covering The Section Of The 6.5 Km Long Historical Beauce Paleoplacer Gold Channel Not Owned By Uragold
(via Thenewswire.ca) Montreal, Quebec / TNW-ACCESSWIRE / October 8 2014 / Uragold Bay ...
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[{"type":"text","content":"Uragold And Fancamp Sign Final Agreement Regarding The Acquisition Of 32 Claims Covering The Section Of The 6.5 Km Long Historical Beauce Paleoplacer Gold Channel Not Owned By Uragold(via Thenewswire.ca)\n \n \nMontreal, Quebec / TNW-ACCESSWIRE / October 8 2014 / Uragold Bay Resources Inc. (\"Uragold\") (TSX Venture: UBR) is pleased to announce that it has signed a definitive written Agreement 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.\n\n\n \nUragold's original Beauce paleoplacer project, 5 claims situated between the Rang Chaussegros and the Rang Gustave, covered only twenty-six percent (26%) of the length of the paleo-placer gold channel. When the transaction closes, Uragold's claim block will cover the full 6.5 km long paleo-placer gold channel.\n\n\n \n\n\n\nClick Image To View Full Size\n\n\n\n \n \nFigure 1. This figure shows the paleo-placer identified by Beauce Place Company in 1959 (Orange); Uragold's original Beauce Claims (Blue); mineralized zones where Uragold delineated an Inferred Resource in March 2014 (Thick Orange); and the Fancamp Claims subject to the Letter of intent (Red).\n\n\n \nThe Beauce Placer Project Overview:\n\n\n \nThe property is located southeast of Beauceville and 3 km northeast of Saint-Simon-les-Mines, in the Gilbert River Valley (in the Appalachians of southern Quebec) where the discovery of an egg-sized gold nugget in the river sands was made in 1846. News of this find attracted hundreds of prospectors who panned just about every stream, brook and river in the area. Two of the largest recorded gold nuggets found in Canada came from the Gilbert River, in areas now covered by Uragold. In 1866 J. Kilgour found a nugget weighing 52 oz. on the north branch of the Gilbert River; and in 1867 Mr. MacDonald found a nugget weighing 45 oz. in the same general area.\n\n\n \nBy 1880, the profitable properties were taken over by larger mining companies, and gold was mined intermittently in various tributaries of the Chaudiere River (into which the Gilbert River flows). Unfortunately, legal challenges between the old Seigneurial rights owners, landowners and the Mining Companies created such a hindrance to th...