Beaufield Resources Inc. announces that after completing summer exploration on its 100% owned Schefferville iron holdings the geological crews have returned to the 100% owned Troilus project located 100 kilometres north of Chibougamau. Beaufield has received a detailed interpretation of Megatem airborne data from Fugro Airborne Surveys. This work has identified a series of high priority geophysical targets in the general vicinity of the Tortigny zinc-silver-copper deposit.
Airborne geophysical targets are being followed up by geological mapping, rock sampling, soil geochemistry and by ground electromagnetic surveys. Diamond drilling using two drills is scheduled to start this week In addition to the six to ten holes to be drilling drilled on targets, at least three holes will be drilled on the Moleon deposit which is located approximately 5 kilometres southeast of Tortigny. Limited drilling was performed on the deposit in the 1990’s and a non 43-101 compliant resource of 181,000 tonnes grading 1.56% copper and 3.4% zinc was reported. A qualified person has not done sufficient work to classify the historical estimate as a current mineral resource and the historical estimate should not be relied upon. The objective of the current program will be to verify the grade and to determine the exploration potential.
The Tortigny deposit is the subject of a 43-101 report under preparation. Completion of this report is expected by early 2012.
Beaufield is pleased to note that Goldcorp Inc. has secured a certificate of authorization for construction of the Eleonore Gold project in northern Quebec (Goldcorp news release November 14, 2011).
Beaufield holds what it considers a prime, contiguous land package adjoining Eleonore with geology similar to Eleonore geology.
The Beaufield property, which is 100% owned, covers 100 square kilometres of high priority geology. Geophysics, geochemistry and geology have been completed and the timing of further exploration is being planned by management.
Quoting the Goldcorp news release: “With life-of-mine gold production expected to average approximately 600,000 ounces of gold per year, Eleonore will be one of the largest underground gold mines in Canada and a key element in Goldcorp’s growth profile”. Beaufield notes that this is the start of a completely new gold mining camp in Quebec If as expected develops as other major gold mining camps have developed in Canada which include Red Lake, Val d’Or and Timmins The priority of Beaufield’s property will be upgraded based on these new developments.
For Schefferville, assays are awaited. These will be included in a 43-101 technical report being prepared by an engineering firm.
Cambridge House- Montreal:
Beaufield would like to invite investors and other interested parties to visit the company’s management team at the Montreal Cambridge House Investment Conference on November 18th and 19th. The conference is being held at the Hilton Bonaventure in Montreal and guests are invited to register via the Cambridge House website ( www.cambridgehouse.com ). Beaufield will be located at Booth 55 in the Exhibit Hall.
This press release was prepared by Jens E. Hansen P. Eng, President and CEO of Beaufield, the Qualified Person under section 43-101.