Beaufield Resources Inc. (“Beaufield” or the “Company”) is pleased to announce that drilling has commenced on the Launay gold project in the Abitibi Greenstone Belt in Quebec. On November 7th, 2013 Beaufield entered into an option agreement with Melkior Resources Inc. (“Melkior”) whereby Beaufield could earn 10% of the Launay Gold Project by spending $250,000 on exploration within the first year of signing the option agreement (refer to November 7th, 2013, press release.) The current drill program is being funded by Beaufield and operated by Melkior.
The program will concentrate on Zone 75 where previous drill holes collared in gold mineralization intersected 1.83 g/t gold over 46.35 metres (hole LAY-08-2012) and 1.20 g/t gold over 21.09 metres (hole ML-87-87) (refer to Melkior press releases May 24th, 2013 and August 30th, 2012.) Approximately 10 holes totaling 1250 metres will be drilled; 9 holes to define Zone 75 and one hole to test an Induced Polarization anomaly.
Melkior has compiled and accurately positioned all historical drilling as well as surface work. The 9 definition holes of this program are based on the 2012 and historical drill data. Based on the drilling Melkior and Beaufield will mutually determine if the information is adequate to prepare a resource calculation.
This news release was prepared by Jens Hansen, Eng., President and CEO of Beaufield Resources Inc.
Beaufield is a 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 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 Company cannot provide any guarantee as to the materialization of the expectations reflected in these 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.
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.