The Launay Gold project lies 90 kilometers northwest of the city of Val d’Or, Quebec, in the famous Abitibi Greenstone Belt known for its rich gold mineralization.
In November 2013, Beaufield entered into an option and joint venture agreement with Melkior Resources Inc.. Under the terms of the agreement, Beaufield will have the option to earn an interest of up to 50% in the Project by incurring exploration expenditures aggregating $1,250,000 over five years, with a minimum $250,000 of exploration expenditures in the first year. Beaufield will earn 10% interest for each $250,000 of exploration expenses.
Launay Gold represents a near-surface gold deposit. Over 40,000 meters of drilling has shown two main gold zones with large tonnage, low-grade potential. The depth potential has not yet been evaluated.
The property has easy road access and there is a large local workforce skilled in mining, exploration, and gold processing nearby.
Samples have shown no arsenic (which frequently accompanies gold), meaning the processing of the gold would be more environmentally friendly and efficient (over 87% gold recovery or more)
Location and Infrastructure
The Launay Gold property is located in the Abitibi region, approximately 90 km Northwest of the town of Val d’Or and 35 km West of the town of Amos, Province of Quebec. The property measures 32.7 km2 comprising 83 claim units. The properties main gold zones are located 1 to 3 kilometres from the main highway and are accessible by dirt roads.
A railroad crosses the property and power is readily available nearby. Several mills are located within a 70 kilometres radius of the project. Local populations are highly skilled and friendly to mining projects.
15 kilometres east, Royal Nickel is developing its Dumont nickel project which contains 6.9 billion pounds of nickel.
Geology and Resources
The property is situated in the central portion of the Abitibi Greenstone Belt, within the Superior structural province of the Canadian Shield. All consolidated material is Archean, except for diabase dykes which are Proterozic. The Abitibi Greenstone belt comprises numerous granitoid intrusions and volcanic and sedimentary belts oriented roughly E-W, dated between 2.75 and 2.67 Ga. It is transected by several major reverse or normal faults oriented E-W to NW-SE, as well as by sinistral NE-trending and dextral SE-trending faults that dissect volcano-sedimentary domains into lozenge-shaped segments cored by intrusive rocks (Illustration 3).This Subprovince consists of approximately 50% of volcanic effusive, intrusive and pyroclastic rocks , 15% sedimentary formations and 35% granitoides intrusions such as 12 batholiths and plutons. For the most part, the intrusions are syn to late-tectonic, put in place during the Kenorean orogenesis. The regional metamorphic facies is generally that of green schist. Less deformed areas may be of the order of prehnite-pumpellyite, while the amphiboloite facies may be observed around some intrusifs. The various volcanic-sedimentary units are separated by long deformation zones such as the Porcupine-Destorand Cadillac-larder Lake faults.
Gold was first discovered at the Launay property in 1937, where early explorers dug trenches and shallow shafts to explore the extent of the gold mineralization.
Current day exploration of the property has shown the presence of a major deformation zone, the Macamic fault, which is believed to be a slip fault associated with the Cadillac and Destor-Porcupine faults which host world-class gold and base metal deposits.
Since then, over 40,000 meters of drilling has identified two main gold zones. Two distinct types of mineralization have been observed on the property, which include ‘vein type’, where the gold is present within veins of shear, breccia and fracture zones, as well as the ‘disseminated type’ where gold-bearing pyrite grains are disseminated in an intrusive massive and plagioclase-rich phase. The property contains geological features that are analogous to the Timmins mining camp.
In 2013, Beaufield entered into an agreement with Melkior Resources to acquire a 50% stake in the Launay property. Beaufield funded a drill program on the Zone 75 area, where 19 holes, comprising 2,589.6 metres, were completed.
Exploration and Outlook
- Calculate initial near surface gold resources at Zone 75
- Identify and quantify potential economics over 3 km strike length
- Plan phase 2 exploration and drilling along strike and at depth, increase tonnage