MONTREAL, June 04, 2018 (GLOBE NEWSWIRE) — Beaufield Resources Inc. (TSX-V:BFD) (the “Corporation” or “Beaufield”) reports that it has increased the 100% owned land package in the Tortigny-Troilus district by staking an additional 348 claims, or 18,995 hectares bringing the total holdings to 810 claims for 42,849 hectares. These new claims cover a number of high-priority base and precious metal targets in the vicinity of the Tortigny deposit that were identified as part of a comprehensive, district scale compilation of the historic exploration conducted in the area. The Tortigny property is located approximately 100 kilometres northwest of the town of Chibougamau, Quebec with year-round access.
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Field work for the Tortigny property is scheduled to commence in June 2018 and will consist of surface prospecting, geological mapping, ground geophysics and geochemistry exploration (till and soil sampling) over select areas described in further detail below. Meanwhile, the Corporation plans on completing an assessment of the historic drilling at Tortigny base metal deposit and nearby Baie Moleon prospect (2.82% Cu, 1.12% Zn and 265.5 g/t Ag over 6m (Ministry of Energy and Natural Resources (“MERN”) Report GM GM 12700)).
In vicinity of the Tortigny deposit, exploration will concentrate on mapping the favorable geological horizon that hosts the deposit. Several electromagnetic (EM) targets near known zinc and copper occurrences have been identified. Ground magnetic surveys will be conducted over areas with little to no bedrock exposure, allowing for a better understanding of underlying structures such as fold and faults as these may represent preferential areas for mineralized bodies as is the case with the Tortigny deposit which is located within a syncline fold. Limited historical drilling further northeast of the area of interest does indicate the presence of mineralization similar to Tortigny, with 2.18% Zn, 1.00% Cu and 21.2 g/t Ag over 4.88 metres (MERN Report GM 13671).
New areas of interest that were recently staked include MegaTEM anomalies (Fixed wing Electromagnetic anomaly) that have yet to be followed-up on the ground. In one case, a strong EM anomaly is located within a presumed volcanic sequence adjacent to a lake bottom sediment sample highly anomalous in Cu, Zn, Pb and Cd. Further north, exploration will also focus on an area where a grab sample had return 16.5% Zn (MERN Report GM 56299).
Another prospective area to be explored includes a boulder containing of up to 20 g/t gold and 8% Cu (July 24, 2013 news release), which based on its size and angular nature is believed to be sourced nearby. Compilation work has unveiled a second boulder located in the area having assayed 7.7 g/t gold (MERN Report GM 13671). The recent staking has included the area suspected to be the source of the mineralized boulder. Exploration is to focus of several EM anomalies that have yet to be drilled.
The Tortigny deposit consists of semi-massive to massive lenses of Cu-Zn-Ag-Au mineralization hosted within a sedimentary layer between two distinct basaltic packages. The deposit occurs in the hinge of a synformal fold closure with an east-west strike that plunges approximately 500 to the west. Mineralization has been traced by drilling along a horizontal distance of approximately 600 metres.
Micon International Ltd (“Micon”) completed for the Corporation an independent National Instrument 43-101 (NI 43- 101) mineral resource estimate on the deposit with an effective date of June 2, 2014 (July 21 and August 7, 2014 news releases). No work has been undertaken since, despite the recommendation by Micon to undertake additional exploration of known sulphide-rich bearing occurrences in the vicinity of the deposit. Micon had recommended a two-phase approach consisting of a reginal analysis of the geology and geophysics including stripping, mapping, sampling and structural analysis of the targets followed by a phase of exploratory drilling at a total estimated cost of $2,000,000.
Beaufield has planned the first phase of its 2018 field program to commence at the end of June and should lead to a decision to commence drilling in the third quarter of 2018.
|Classification||Tonnes (000’s)||Copper (%)||Zinc (%)||Silver (g/t)||Gold (g/t)|
|Total Measured & Indicated||1,098||1.78%||3.65%||48.5||0.35|
|1 –||Numbers may not add due to rounding;|
|2 –||Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. There is no certainty that any part of the estimated Mineral Resources will be converted into Mineral Reserves;|
|3 –||Based on the NI 43-101 Report titled “Technical Report for the Tortigny Polymetallic Project Southern James Bay Municipality Quebec, Canada” dated effective June 2, 2014 by Micon International Limited.|
This news release has been prepared and approved by Ronald Stewart, P. Geo., President and CEO of Beaufield and Mathieu Stephens, P. Geo., Vice President of Exploration and Corporate Development for Beaufield, the Qualified Persons, as defined by National Instrument 43-101.
Beaufield is a mineral exploration company with its exploration activity focused in Quebec and Ontario. Please refer to Beaufield’s website to view the Corporation’s properties in Urban, Eleonore-Opinaca, Tortigny, Hemlo and Launay. The Corporation is actively exploring, is well financed with approximately $5 million in working capital, has no debt and has excess work credits on its properties.
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.
CONTACT: Ronald Stewart, President and CEO : Tel: 647.409.0293 Mathieu Stephens, VP Exploration and Corporate Development: Tel: 514.842.3443 E-mail: email@example.com