Beaufield Reports on Urban 2015 Discoveries
Beaufield Resources Inc. (“Beaufield”) is pleased to report results from its surface exploration activities on its 100% owned Urban property, Quebec. Beaufield recently completed a fall drill program (October 13th, 2015 news release) that targeted geophysical targets on the property. Results of the drill program are expected within a few weeks.
The prospection program identified several new areas of interest in the Macho area associated with important geophysical anomalies indicated by an induced polarization (IP) survey completed early this year. Table 1 below summarizes highlights from the exploration program, including the discovery of new mineralization occurrences. A map indicating the location of all known mineral occurrences on the property follows : http://media3.marketwire.com/docs/Machoshowings2.pdf
Table 1: Assays results for select grab samples taken on Beaufield’s property
|Occurence||Sample||Gold (g/t)||Silver (g/t)||Copper (%)||Molybdenum (%)|
The Macho Bay occurrence consists of a silicified basalt containing chalcopyrite and pyrrhotite. This new discovery assayed 7.35 g/t Gold and anomalous amounts of copper. Additional work is planned in this area before the onset of winter to determine the extent of mineralization and the nature of the underlying geology.
The Molly occurrence is a mineralized quartz vein within basalt which assayed 1.78% Molybdenum and contained anomalous amount of gold and silver. The Chalko occurence is located approximately 20 metres further east and consist of a different quartz vein and assayed 3.58 g/t Gold.
The Souart occurrence is a quartz vein containing chalcopyrite mineralization that assayed 1.26 g/t Gold and 0.61% Copper in a grab sample. This vein is located within an intrusive body, known as the Souart Intrusion. This intrusion may be the source and main generator of mineralization found in the area, including nearby deposits.
The Sterling occurrence consists of a network of quartz veins within a basalt unit. Systematic sampling of the veins indicated that mineralization was present in all of them. The best values were in sample R016613 (5.47 g/t Gold, 28.3 Silver g/t and 1.61% Copper). Another sample contained 48.7 g/t Silver and 2.33% Copper and 1.12 g/t of Gold. This newly identified area may represent a mineralized stockwerk zone, similar to the East Showing which is located some 400m to the northeast and which assayed 20 g/t Gold (August 1st, 2014 news release). Outcrops in this part of the property are rare as bedrock exposure represent less than 1% of the surface, which is mostly covered by overburden.
“This portion of the Urban area contains very little bedrock exposure and the fact that we have so many occurrences at surface is very encouraging and highlights the property’s potential for discovery” stated Jens Hansen, President and CEO of the Corporation.
A follow-up exploration program consisting of trenching will be undertaken on these discoveries over the next few weeks before the onset of winter with the goal of determining the extent of the mineralization at surface. These discoveries represent new exploration targets and may be included in the upcoming drill program scheduled to start in January 2016 (October 13th, 2015 news release).
Beaufield’s property is located near infrastructure and is easily accessible by road. The Urban area is an active area with many companies operating in the area including Oban Mining, Bonterra Resources, Urbana Corporation and Metanor Resources. Please refer to Beaufield’s website for a detailed map indicating the principal stakeholders for the Urban region.
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 identify other potential opportunities in 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.
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.