Beaufield Resources Inc. (“Beaufield”) is pleased to announce that a drill contract has been awarded and permits have been received for its upcoming 2016 drilling program on its Urban property, Quebec. Forage Orbit Garant Inc. of Val d’Or has been chosen after a review of several drill company bids to undertake the diamond drill program.
The initial program will focus on two areas of the Urban Macho project. In the Lucky 7 area, a series of holes are designed to test the potential extension of mineralization along strike and at depth of a new gold zone (7.86 g/t Au over 6 metres) discovered during a fall drilling program (BFD news release, December 8th, 2015).
The second target area consist of a high priority geophysical anomaly identified last year by a deep penetrating induced polarization and magnetic survey that could not be accessed during the recently completed fall program.
The drill program, scheduled to begin later next week, Beaufield will also manage drilling for Urbana Corporation’s (TSX:URB)(TSX:URB.A)(CSE:URB)(CSE:URB.A) recently announced drill program. Working with Urbana will reduce reducing costs for both parties and improve geological knowledge of the key Macho property.
Beaufield’s 100% owned 12,357 hectares Urban property is centrally located within the Urban-Barry camp, 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 map indicating the principal stakeholders for the Urban region.
Beaufield will be attending the Prospectors and Developers Conference (PDAC) in Toronto from March 6th to March 9th, 2016 at booth #2903. We welcome visitors to come meet management and learn more about Beaufield’s exploration project in Urban.
This news release has been prepared by Mathieu Stephens, P.Geo., Vice President of Exploration and Corporate Development for Beaufield, the Qualified Person, as defined by National Instrument 43-101.
Beaufield is a well financed 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 $2.5 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.