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Uragold Files NI 43-101 Technical Report on the Beauce Placer Property Located in The Beauce Region of Southern Quebec.
(via Thenewswire.ca) Montreal, Quebec / TNW-ACCESSWIRE / May 1 2014 / Uragold Bay Resour...
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[{"type":"text","content":"Uragold Files NI 43-101 Technical Report on the Beauce Placer Property Located in The Beauce Region of Southern Quebec.(via Thenewswire.ca)\n\n \nMontreal, Quebec / TNW-ACCESSWIRE / May 1 2014 / Uragold Bay Resources Inc. (\"Uragold\") (TSX Venture: UBR), is pleased to announce that it has filed a technical report in accordance with National Instrument 43-101, entitled, \"Technical Report on the Beauce Placer Property, South-Eastern Quebec\" (\"Technical Report\") with Canadian securities regulators, pursuant to the Company's news release dated March 2, 2014. The report documents an inferred resource estimates (polygon derived) for the Rang Chaussegros section of Beauce Placer Gold Project of the Company's 100% owned Beauce Placer Project, located in the municipality of Saint-Simon-les-Mines in the Beauce region of Southern Quebec. The Technical Report is available at www.sedar.com and on the Company's website.\n\n\n \nThe conclusions of the report are as follow: \n\n\n \nExploration work by the Issuer has tended to confirm previous results but has also brought new insight on the Gilbert River Placer, particularly regarding the possibility of a local bedrock source for the mineralization. \n\n\n \nSpecific salient points are as follows:\n\n\n \n-Sonic Drilling during 2011 revealed that the gold bearing unit corresponded to a brown clayey diamict (saprolite), at least partly of a glacial origin, rather than a purely alluvial gravel generally just above the Basement rocks;\n\n\n \n-Declared inferred resource of 23,000 oz. AU (741,000 m3 @ 0.97 g Au/ m3);\n\n\n \n-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.1;\n\n\n \n-Sedimentological observation and characteristics of the gold grains extracted from this basal unit suggest a close proximity to a bedrock source;\n\n\n \n-Diamond drilling carried out in the fall of 2011 cored both meta-sediment and volcanic rocks of the Beauceville Formation under, and immediately up ice from the known placer;\n\n\n \n-Core descriptions revealed intense quartz carbonate veining and local sulphide mineralization. This was accompanied by silicification, epidotisation, quartz veining lixiviation and brecci...