Uragold Bay Resources Inc. ("Uragold"), is pleased to announce preliminary results of geophysical surveys completed this last winter by INRS (Institut National de la Recherche Scientifique).
The surveys completed included Geoelectrical Tomography and Induced Polarization (IP) on 11 cross sections at 100 metre intervals over the historical placer gold channel on the Rang Chaussegros claims of Uragold's Beauce Placer Gold property located in the municipality of Saint-Simon-les-Mines in the Beauce region of southern Quebec.
The geoelectrical tomography and frequency domain electromagnetic surveys reveal the variability of the quaternary overburden and detail the stratification of the placer deposit. This data allows Uragold to identify areas of undisturbed overburden over the historical placer channel not mined by the Beauce Place Company's 1960s dredging operation.
The Induced Polarization (IP) data reveals a strong conductive anomaly (+60 msec) of the bedrock below the auriferous basal till. This anomaly could correspond to a mineralization of volcaniclastics dacitic rhyolitics encased in an assemblage of vertical shale units of the Beauceville Formation.
Note that, as previously reported, the sedimentological observations and characteristics of the gold grains extracted from the basal till unit suggest a close proximity to a bedrock source.
Mr. Marc Richer-LaFlèche, Ph.D (Geo), is a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the information in this news release.
Patrick Levasseur, president and COO of Uragold stated.
"The result of the Tomography combined with our Sonic Drill data confirms that large sections of the historical placer gold deposit was not mined in the 1960s, and this is another positive step in the development of the Corporation Beauce Placer project.
Furthermore, we are very excited about the vertical drop of the IP anomaly from the top of bedrock because it strengthens our model of a local hardrock source of the auriferous till found on the property."