Beaufield Resources Inc. (“Beaufield” or the “Company”) is pleased to announce the completion of contracts to undertake a summer drill program on its 100% owned 430 square kilometre Schefferville Iron project. The work will focus on the recommendations of SRK Consulting in the recently completed 43-101 technical report (News release of April 18, 2012).
The highest Fe2O3 values of 91.73% were obtained in an area of extensive historical trenching by the Iron Ore Company of Canada. This trench is located 8 kilometres from the town of Schefferville. It will be systematically drilled with the objective of defining a Direct Shipping Ore (“DSO”) resource. A railroad terminates on Beaufield claims 5 kilometres south of the planned drilling.
A second immediate DSO target area is located on a road 15 kilometres northwest of Schefferville. This target coincides with a gravity anomaly that sampled 88.1% Fe2 03. Several DSO deposits owned by others are located within 5 kilometres of this target.
In addition, a number of other high priority DSO and Taconite targets within the property are scheduled for drill testing.
A contract for a minimum of 6,000 metres of drilling has been signed with Chibougamau Diamond Drilling. Two drills are planned. A helicopter contract has been set. Fuel has been mobilized to Schefferville and housing has been rented.
For additional information on the project, Jens Hansen, Beaufield’s President, was interviewed on May 3, 2012 by CFRA’s Business Commentator, John Budden, who has been a Director of Beaufield since 2005. The interview is accessible through the following link, along with property map.
This news release has been prepared by Jens E. Hansen, P.Eng., President and CEO of Beaufield, the Qualified Person under section 43-101.