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UrbanGold completes geophysics, outlines targets at Pallador-Regnault

Oct 29, 2020

UrbanGold Minerals Inc. has received a detailed interpretation of the induced polarization ("IP") survey it recently completed on a portion of its 100%-owned Pallador property in the Troilus-Frotet area, Quebec. The IP survey was completed in the Regnault area, and along strike with and 400 metres south of Kenorland Minerals Ltd. ("Kenorland") drilling that has initially outlined their recent discovery (Kenorland August 31, 2020 news release), and over ground where the Company had previously identified several gold anomalies in soil samples (UrbanGold September 8th, 2020 news release).

The high-definition IP anomalies strongly correlate with the geochemical anomalies identified last month, and also with the locations of several gold- bearing boulders discovered by UrbanGold geologists that exhibit values up to 102 g/t Au (UrbanGold September 2, 2020 news release). The data collected has permitted UrbanGold's exploration team to outline drill targets, for which permits have already been received.

Mathieu Stephens, UrbanGold President and CEO commented: "The Kenorland discovery is a game changer for the area and we are right next door to it. More importantly, however, the UrbanGold claims are on strike to what appears to be a 2-kilometre-long gold system. In the 3 months that have passed since the Regnault discovery was announced, UrbanGold's exploration team has been able to locate numerous gold-bearing boulders and recognize priority soil anomalies that coincide with the recently identified IP chargeability targets. The next step in the exploration process is to drill these targets, some of which are located 400 metres from the Kenorland drilling."

Planning for the Company's maiden drill program for the area is underway. The area where the targets have been identified is easily accessible via a dirt road which crosses the Property and is located only 2 kilometres from an all-weather road (Route-du-Nord).

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