Beaufield Resources Inc. (“Beaufield”) is pleased to announce the progress for its active 2015 exploration. The Corporation is well-funded with approximately $3 million in cash.
Urban will be Beaufield’s primary focus for 2015 where it has increased its 100% owned claim holdings to 235 claims totalling 10,320 hectares via staking and strategic purchases (see map). Beaufield’s lands are central to the developing Urban camp. The claims cover gold and base metal occurrences that have been previously announced including the Lac Rouleau historical gold occurrence. Other companies active in the area with properties that adjoin Beaufield, have recently announced interesting business activity.
In early July 2015 surface exploration by Beaufield staff discovered new mineralization in bedrock located 400 metres south of the East Showing which assayed 20.0 g/t gold, 2.43% copper in a grab sample in 2014 (Aug. 1st, 2014 News Release). Assays are pending for samples taken from this new location.
In addition to the exploration, Beaufield’s field crew has prepared drill access and drill set-up locations for a drill program scheduled to begin in August 2015. The Beaufield property is located 7 km southwest of the Windfall gold deposit.
A Quebec gold producer is currently evaluating the previous historical drilling on this property which is owned by Melkior Resources Inc. (Beaufield can earn 50% by spending $1,250,000 of which $426,000 has been spent).
Beaufield owns 100% of 140 claims or 7325 hectares adjoining the recently commissioned Eleonore gold mine. Previous exploration by Beaufield has announced occurrences of gold, molybdenum and copper that merit exploration. This is considered a high priority Beaufield asset with a current work surplus of $1.6 million. The 2015 program will focus on Urban so little or no work can be undertaken at Eleonore-Opinaca in 2015.
Beaufield holds 460 claims or 23,640 hectares with a work surplus of $4.4 million in this highly prospective base metal camp. The next steps for the Tortigny deposit are under consideration. In addition to exploration potential at the Tortigny deposit, the property hosts numerous exploration targets which are scheduled to be followed-up by surface prospecting and mapping over the next few weeks.
This news release has been prepared by Jens E. Hansen, Eng., CEO, President and Director, and Mathieu Stephens, P.Geo, Chief Geologist, the Qualified Persons, as defined by National Instrument 43-101.
Beaufield is a mineral exploration company with its exploration activity focused in Quebec. Beaufield is well positioned to advance its portfolio of exploration properties and to identify other potential opportunities at the mineral exploration or development stage. The Corporation is actively exploring, well financed with approximately $3 million in cash, has no debt and has excess work credits on its properties.
|Jens E. Hansen, President and CEOTel: 514.842.3443Fax: 514.842.3306E-mail: [email protected]: www.beaufield.com|
The information set forth in this press release includes certain forward-looking statements. Such statements are based on assumptions exposed to major risks and uncertainties. Although Beaufield deems the expectations reflected in these forward-looking statements to be reasonable, the Corporation cannot provide any guarantee as to the materialization of the expectations reflected in these forward-looking statements. The Corporation expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.