Beaufield Resources Inc has completed 7 weeks of helicopter supported geology and sampling on the Schefferville Iron project. A total of 820 rock samples and 1,307 B-horizon soil samples have been sent to ALS Chemex for analysis.
The work involved follow-up of a series of significant ground and airborne gravity anomalies typically indicative of DSO (Direct Shipping Ore) iron oxide targets in the Sokoman Iron formation. Old trenches by the Iron Ore Company of Canada from the 1950’s and 1960’s have been located, mapped and sampled. Roads and trails linking the property to Schefferville were mapped. Accessibility is considerably better than anticipated.
Four DSO iron deposits owned by others are located inside Beaufield’s boundaries; geophysics and mapping show these to extend on to Beaufield’s ground. Several DSO deposits being developed by others are located on adjoining properties leading to improved infrastructure. Both DSO and taconite have been mapped and sampled.
Beaufield has recently increased its available exploration funds via a bought deal private placement (Press release of September 2, 2011). Beaufield believes that company’s Schefferville property will be a key property in the development of this area. The Quebec Government’s newly announced “Plan du Nord” emphasizes the future importance of Schefferville.
A 43-101 technical report of the Tortigny Zinc-Copper-Silver deposit is underway. A helicopter supported field exploration program will begin mid September. The objective will be to locate satellite deposits of which the known Moleon deposit is one. The 43-101 technical report will provide the basis for the next steps at Tortigny.
At Opinaca Beaufield is observing advancement at the Eleonore Gold deposit owned by Goldcorp before initiating additional exploration. Two gold exploration properties, namely Hemlo-Northern Eagle and Urban are being funded by others.
Beaufield owns 100% of Schefferville, Tortigny and Opinaca. By the end of September 2011, the company will have approximately $9 million funding available following the closing of the recently announced $2 million financing.
David Frappier-Rivard, P.Geo., Exploration Manager is the Qualified Person, as defined by National Instrument 43-101 and supervised both the project field and the preparation of the technical information in this release.