Beaufield Resources Inc. (“Beaufield” or the “Corporation”) (TSX-V: “BFD”) is pleased to announce the results from its 2014 field season on its 100% owned Éleonore-Opinaca property. The property is located in the James Bay Area, Quebec.
The property occupies a very strategic position between Goldcorp’s Éléonore soon-to-be-opened world class Gold mine which will be Quebec’s largest, and Virginia’s Regional property (one of Quebec’s most successful explorers). Beaufield’s property covers more than 77 square kilometers, is surrounded on three sides by Goldcorp’s Éléonore mine property and shares a 42 km long border with Goldcorp. To the West of the Beaufield ground, Virginia is actively exploring a property which covers in excess of 700 square km. Beaufield’s Éléonore-Opinaca property is shown on the adjoining area map and is also available on Beaufield’s web site. It shows the key central location of the property.
The two-week work program consisted of prospecting and sampling in the northern portion of the property where bedrock is scarce and overburden cover is predominant. To assist with prospecting, a beep-mat was used to help identify conductive bedrock and boulders which may be blanketed by the overburden.
A total of 16 grab samples* were collected and results are listed in table 1 below. The best result is from a newly discovered outcrop that assayed 1.95% Cu, 28.2 g/t Ag and 0.51 g/t Au on a peninsula known as the Snoopy area. Five other showings are located within a roughly 10 acres size area. The samples taken from these showings have assayed gold values ranging from 2 to 6.5 g/t Au and up to 12% Molybdenum (“Mo”). Anomalous copper is also prevalent. The type of lithology and mineralization encountered and the geological context indicates that this may be porphyry-style mineralization. This suggests in addition to the potential for an Éleonore-type deposit on the Beaufield ground, the potential for a porphyry-style gold-copper-silver-molybdenum formation.
*Grab samples collected are selective in nature and are unlikely to be representative of the average grades of mineralized zones.
A boulder assaying 4.22 g/t gold was also discovered further east where no outcrops are present.
|Sample||Source||Type||Au g/t||Silver g/t||Copper %|
A soil survey was also conducted on the northwestern portion of the property. A total of 100 B-horizon soil samples were taken and assayed. Several of the samples returned anomalous gold values, with one sample reaching 0.2 g/t Au which is a very high value for a soil sample.
In 2013, Virginia Mines, conducted an induced polarization (“IP”) survey 450 metres west of this location and mapped an important conductive target (GM #67688, Mnr-Q). Two anomalous zones were outlined.
Results are currently being analyzed and compiled with existing exploration data by Beaufield geologists. Geological, geochemistry and geophysical data collected to date point to a large area of interest that warrants further exploration. Work for the property is being planned and will include ground geophysics and additional soil sampling which could lead to potential drill targets.
Jens Hansen, Beaufield’s President, states: ”Beaufield’s Éléonore property continues to deliver very good exploration results and this explains why we still consider it one of the Corporation’s key assets. In addition the development brought to the area by Goldcorp as part of the start of production at Éléonore has been a benefit to Beaufield because the property is now more readily accessible and this has substantially reduced exploration costs”.
All grab samples taken in the field were bagged and sealed on location and transported securely to ALS CHEMEX Laboratories in Val d’Or, Quebec, which is is certified for ISO9001 and ISO/IEC 17025 standards. 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. Assays were also performed on lab control standards, blanks and duplicates.
This news release has been prepared by Mathieu Stephens, P. Geo, Chief Geologist, the Qualified Persons, as defined by National Instrument 43-101.
Canadian Investor Conference
Beaufield will be attending the Canadian Investor Conference in Toronto on September 25th and 26th. We invite everyone to come meet our team at booth #701 at the Sheraton Centre. Additional details about the conference are available on the Cambridge House International website.
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 Corporation is actively exploring, well financed, has no debt and has excess work credits on its properties.
|MI3 Financial Communications
Mario Drolet, President
Tel.: 514.904.1333 / Cell.: 514.346.3813
E-mail: [email protected]
|Jens E. Hansen, President and CEO
E-mail: [email protected]
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 Corporation cannot provide any guarantee as to the materialization of the expectations reflected in these forward-looking statements. The Corporation 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.