Uragold Bay Resources (TSXV:UBR) further diversifiUragold Bay Resources (TSXV:UBR) further diversified its gold-uranium portfolio with last month’s acquisition of two Quebec graphite properties. The Asbury Mine operated seasonally as a graphite open pit from 1980 to 1989. Drilling in 1985 found the bottom of the pit open at depth. Graphite zones to the north and south show further potential, the company states. Historic non-43-101 metallurgical tests showed a recovery of 85% with 50% of concentrate producing +80-mesh large flakes with an average grade of 90% C, 25% of concentrate producing medium flakes with an average grade of 80% and 25% of concentrate producing fine flake with an average grade of 80%. The Canadian Graphite Property has a non-compliant 1918 estimate of 168,000 tons grading 6.15% C.
Uragold’s other projects include the Beauce Placer Property, site of Canada’s first gold rush in the 1850s, the McDonald Gold Project, the Moe River Gold Project and the Uskawanis Uranium Project, all in the mining-friendly province of Quebec.
https://business.financialpost.com/2012/04/26/getting-to-grips-with-graphite-onpage-media-hosts-a-toronto-conference-for-investors-may-2/