Beaufield Resources Inc. (“Beaufield”) (TSX VENTURE:BFD) is pleased to announce the start of drill program on its 100% owned Urban gold property. The Urban Township has been the focus of detailed gold exploration and mining over a number of years with exploration activity in the township accelerating. Beaufield has held the property since the mid 1980s.
Drilling will focus on Beaufield’s Macho River property, where surface exploration identified several areas containing significant mineralization of gold, silver, copper and molybdenum. Over the last 15 years, this portion of the property has received very little exploration, with the most recent drilling having occurred in the 1990s.
Beaufield’s property adjoins Oban Mining’s Windfall property and displays a similar geological environment. Please refer to Beaufield’s website for a detailed map indicating the principal stakeholders for the Urban region.
Earlier this year, geophysical work consisting of a deep penetrating induced polarization (IP) survey was completed on the property and identified several excellent anomalies that may be associated with mineralization.
In the western portion of the property, a significant IP anomaly was identified approximately 400m to the southwest of the West Showing where a grab sample assayed 14.8 g/t Au, 156.0 g/t Ag and 1.6% Cu in 2014 (BFD news release, August 1st, 2014). It is believed that this anomaly may correspond to the extension of the West Showing, where historical drilling indicated a widening of the mineralized zone towards this direction.
In the central portion of the property, 4 holes will test excellent IP anomalies where chalcopyrite has been identified at surface.
On the east side of the property and closer to the Macho River, several important targets will be drilled. 2 Holes will test IP targets interpreted as the extension of the East Showing where a grab sample assayed 20.0 g/t, 54.9 g/t Ag and 2.43% Cu in 2014 (BFD news release, August 1st, 2014). Further south, 2 others holes will test IP targets which may correspond to chalcopyrite and molybdenite mineralization uncovered this past summer.
2 more holes have been planned to test a 500m long and intense IP anomaly where no outcrops are known to exist.
It is anticipated a total of 13 holes for sum of approximately 1,500 metres will be drilled in this program. A second drill program may follow in the winter.
This news release has been prepared by Mathieu Stephens, P.Geo., Chief Geologist for Beaufield, the Qualified Person, 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.
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.