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October 20, 2011 12:40 ET
Uragold Confirms the Auriferous Nature of the McDonald Till and Identifies Two Large Gold Occurences
MONTREAL, QUEBEC--(Marketwire - Oct. 20, 2011) -Uragold Bay Resources Inc. (TSX VENTURE:UBR),Uragold is pleased to announce partial results of its regional tillsampling campaign on their 100% own MacDonald property located insouthern Quebec's Appalachian belt. Preliminary analysis validateshistorical results confirming the auriferous nature of the McDonaldTill. Analysis of gold dispersal trails points to two large goldoccurrences in the Cookshire Eaton County.
In June 2011, a total of 465 samplesof glacial till were collected, systematically covering the property.15 kg samples were concentrated on shaking table at ExploLab in Val-d'Orto produce dense mineral concentrates of 200-300 g which were then sentto ALS-Chemex for pulverisation and analysis for Au by Fire Assay andother elements by ICP-MS. Sample treatment implies a concentrationfactor for 50x to 75x which remains reasonably low. Available analyticalresults for the first 200 samples from the northern part of theproperty returned 15 significant assay values from 50 to 608 ppb Au.These confirm historical results regarding the presence of auriferoustills on the McDonald Property.
Sample
ppb Au
Sample
Ppb Au
MC-11-023
608
MC-11-081
148
MC-11-100
403
MC-11-035
125
MC-11-104
359
MC-11-083
125
MC-11-136
295
MC-11-043
88
MC-11-176
276
MC-11-108
72
MC-11-059
273
MC-11-055
67
MC-11-027
263
MC-11-077
59
MC-11-116
183
Analysis of gold in till dispersal trails point to two largegold occurrences in the Cookshire Eaton County namely in the vicinity of(1) Sand Hill to the west and (2) Birchton to the east. At Birchton,the gold in till signals align along two well define, 20 km long ribbonshaped dispersal trains of SSE and SE orientations with a narrowprovenance area near their up-ice intersection. In contrast, the SandHill occurrence show a single but larger SSE dispersal fan (20 km inlength) which remains to be clarified with detailed follow-up sampling.Follow-up work are to be performed this fall aiming to locate thebedrock source for these historically known gold in till occurrences.
Inlandsis Consultants, headed by Dr. Remi Charbonneau PhD (P.Geo) specialist in glacial till geology supervised and interpreted thesampling program. Dr Charbonneau PhD, is a Qualified Person as definedby National Instrument 43-101, supervised the preparation of theinformation in this news release.
About the McDonald Gold Property
The McDonald Property is located in the southwestern part ofthe Quebec Appalachians in the Eastern Townships region of the Provinceof Quebec. Uragold's Moe River Property forms the western edge of theproperty. For a more detailed description, please read the company'spress release titled
Uragold Completes the Acquisition of a 425 Square Kilometer Gold Anomaly issued October 14, 2010.
The presence of abundant free gold in surface placers bearingdrainages such as the Saumon, Clifton, Eaton and the Moe River riversalong with the presence of gold in undisturbed glacial till, stronglyleads Uragold to consider the possibility of hard rock gold deposit(s)somewhere under the till cover. The objective is to explore for thesehard rock sources of gold.
Additionally, the Corporation is evaluating the economicpotential of the auriferous gravels found in the banks and benches thatparallels the Moe River. Uragold is currently completing a till samplingprogram at the Moe River and once completed the Corporation intend toimplement an exploration program in order to validate the 400,000 +ounce historical placer gold deposit of the Moe River Property (671,318cubic meters at 0,62 g/t AU, Uragold 43-101 Technical Report, AlluvialGold Properties, Dec 09).
About Uragold Bay Resources Inc.
Uragold Bay Resources is a junior exploration company tradingon the TSX Venture Exchange under the symbol UBR. Uragold is a topclaims holder in Southern Quebec's Appalachian belt. The propertiesbenefit from extensive historical exploration work and fromwell-established infrastructure thereby helping to reduce explorationrisks. Uragold's business model focuses on developing, a series ofpotential small scale low-cost gold mining operations for theirpotential in generating cash flow while simultaneously exploring coreproperties that hold the potential for the discovery of blue sky golddeposits like the MacDonald project.
Neither the TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policies ofthe TSX Venture Exchange) accepts responsibility for the adequacy oraccuracy of this release.
Contact Information
Bernard J. Tourillon, Chairman and CEO
Patrick Levasseur, President and COO
(514) 846-3271
www.uragold.com