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Uragold Issues First Ever Inferred Resource Estimates for the Beauce Placer Gold Project of 23,000 Oz and Increases the Resource Potential for the Rang Chaussegros Section
(via Thenewswire.ca) Uragold Bay Resources Inc. ("Uragold") (TSX Venture: UBR), is pleas...
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[{"type":"text","content":"Uragold Issues First Ever Inferred Resource Estimates for the Beauce Placer Gold Project of 23,000 Oz and Increases the Resource Potential for the Rang Chaussegros Section(via Thenewswire.ca)\n\n \nUragold Bay Resources Inc. (\"Uragold\") (TSX Venture: UBR), is pleased to announce that it has received its first ever inferred resource estimates (polygon derived) for the Beauce Placer Gold Project from the author of the NI 43-101 technical report.\n\n\n \nThe author concluded, after having reviewed all the technical data available, that there was enough recent and historical information to disclose the following Inferred Polygonal Resource*. The following Inferred resource has been estimated from data derived from 30 boreholes (7 recently drilled sonic boreholes and 23 historical boreholes from work done in the 80's):\n\n \n\nPlacer Gold Inferred Resource (assay values)\n\n\n\n\nResource volume\n\n\n\n\n741,000 m3\n\n\n\n\nGold grade\n\n\n\n\n0.97 g Au/ m3\n\n\n\n\nGold contained\n\n\n\n\n721,000 g/ Au OR 23,000 ounces/ Au\n\n\n\n \n*An \"Inferred Mineral Resource\" is that part of a mineral resource for which tonnage, grade and mineral content can be estimated with a low level of confidence. It is inferred from geological evidence and assumed but not verified geological/or by grade continuity. \n\n\n \nAny grade/ tonnage calculation at the Beauce Project will be fraught with difficulty. Key amongst the problems with the Beauce (and many other gold projects) is ore grade variability. The grade can and will change from almost nothing to a value of several grams per cubic metre within a very short distance. \n\n\n \nThis point was emphasised by Rose (1959) who in relation to the proposed dredging by the Beauce Placer Company at the time stated: -\n\n\n \n\"...gold obtained in the drill samples has been coarse and in a number of holes small nuggets were found. In estimating volumes and values these nuggets have been included. When the gold is coarse it usually follows that actual dredging recoveries are higher than the drill estimates.\" \n\n\n \nDue to the nugget effect and the clear disparity between drilled and mined gold grades at the Beauce the author believes that gold volumes contained in the deposit will be larger than indicated by the drilling, but until the completion of the bulk sampling, the only way to quantify the nugge...