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Uragold Plans To Issue Dividend To Shareholders Via Spin Out Of Gold Projects. Exploration Program Majority Funded By Government Grants Set To Begin At Beauce
(via Thenewswire.ca) Montreal, Quebec, Canada / TheNewswire / March 11 2016 - Uragold ...
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[{"type":"text","content":"Uragold Plans To Issue Dividend To Shareholders Via Spin Out Of Gold Projects. Exploration Program Majority Funded By Government Grants Set To Begin At Beauce(via Thenewswire.ca)\n \n \nMontreal, Quebec, Canada / TheNewswire / March 11 2016 - Uragold (TSX Venture: UBR) is pleased to announce the start of an exploration program focused on the detection of deep sulphide mineralization targets on the Company's Beauce Gold project located in the Beauce region of Southern Quebec. The research program, approximately 80% of which is funded through governmental grants, will bring together an international world-renowned multi-disciplinary geophysical team oriented on studying and identifying the location of potentials hard rock sources of the Beauce Gold property.\n\n\n \nGOLD PROJECTS TO BE SPUN OUT TO UNLOCK VALUE\n\n\n \nBernard Tourillon, Chairman and CEO of Uragold stated, \"Our decision to participate in this government funded exploration program at this time represents the official start of the Company's plan to spin out its' gold assets into a separate publicly traded company, first contemplated in our press release of December 1, 2015. We believe the spin out will serve to unlock the true value of our gold assets for our shareholders, all of whom will receive shares in the new company, while allowing each company to focus on their respective core competencies. Details of the spin out, subject to shareholder and regulatory approval, will be provided in due course.\"\n\n\n \nBEAUCE GOLD PROPERTY-SEARCHING THE SOURCE OF THE LARGEST PLACER GOLD DEPOSIT IN EASTERN NORTH AMERICA\n\n\n \nThe Beauce Gold project area hosts a six (6) km long unconsolidated gold bearing sedimentary unit (a lower saprolite and an upper brown diamictite) holding the largest historical placer gold deposit in eastern North America. Uragold exploration work to date identified delicate gold in saprolite, indicating a close proximity to a bedrock source of gold providing significant potential for further exploration discoveries. (Please refer to Uragold National Instrument 43-101 report dated January 8, 2015).\n\n\n \nPatrick Levasseur, President and COO of Uragold stated, \"For the past 150 years, every 50 years has seen the occurrence of major placer gold mining operation on the property. Regardless of this, there have been few attempts made to identify the b...