Beaufield Resources Inc. is pleased to announce the completion of a 21 hole drill program, totaling 3,621 metres, on its 100% owned Troilus property in James Bay, Quebec located 100 km north of the town Chibougamau.
Beaufield has undertaken regional exploration on its claims and identified a series of new exploration targets which have the potential to expand Beaufield’s resources in the region. The current program drilled 3,621 metres as part of a longer term exploration program.
A significant target is the Moleon deposit which reported historical resource of 184,000 tonnes at 3.4% Zn and 1.56% Cu. It is situated approximately 4 km east-south-east of the Tortigny deposit and appears to have similar mineralization. Four holes confirmed the presence of copper-zinc mineralization in the Moleon massive sulphide lens. Future drilling will concentrate on expanding the deposit. 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.
17 other targets were drilled based on induced polarization and electromagnetics. Massive sulphides containing some base metal minerals were observed on some of the targets. 2048 samples have been sent for assay. Complete results are anticipated by March 2012.
The presence of these geophysical anomalies could be quite significant since volcanic massive sulphide (VMS) deposits such as Tortigny, tend to occur in districts. Up to two dozen deposits might be clustered in an area of a few tens of square kilometres. Known VMS districts are excellent hunting grounds for new discoveries.
When all the assays results are received and compiled an electromagnetic borehole survey will be planned to determine the extent of the various mineralized horizons, specially on the Moleon deposit, to investigate the geometry and possible repetitions of the massive sulphide lens.
It is of note that one of Quebec’s important lithium deposits, The Moblan deposit, owned by Australian based miner Perilya Limited is entirely surrounded by Beaufield’s property. This deposit contains a NI-43-101 compliant inferred mineral resource of 5.3 million tonnes grading 1.51% Li2O. Preliminary surface exploration by geologists indicates that similar pegmatite containing lithium, tantalum and rubidium appear to continue onto Beaufield’s property. Additional exploration work in this area is being planned for summer 2012.
Beaufield is still awaiting the 43-101 report on the Tortigny deposit which has been the subject of delays due to the unusually high demand for such services by industry. The report is expected for Mid-March 2012.
Quality Assurance / Quality Control
Core processing included descriptive logging and systematic sampling for analysis. The drill core samples were completely cut in half, with one half delivered to a commercial laboratory and the other half retained for future reference. Duplicates, blanks and standards were inserted into the sample sequence. Gold assays were performed at ALS CHEMEX Laboratories in Val d’Or, Quebec. The processed samples were submitted to a standard Fire Assay with AA technique (Au-AA-23) and Inductively Coupled Plasma Emission Spectroscopy (ME-ICP-41) on a 30 gram sub-sample.
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.
FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. Forward looking statements in this press release may be identified by the words “estimate”, “believe”, “anticipate”, “intend”, “expect”, “plan”, “may”, “should”, “will”, and the negative thereof or other variations thereon or comparable terminology. Actual results could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company’s control. These factors include: results and timing of exploration activities, general market and industry conditions and other risks disclosed in the Company’s filings with Canadian Securities Regulators.
Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company 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. Depending on exploration results and available financing, the Company may at any point modify the suggested work program for 2012.
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