MONTREAL, QUEBEC–(Marketwired – June 20, 2016) – In addition to continued drilling at Macho and Rouleau Blocks, Beaufield Resources Inc. (“Beaufield”) (TSX VENTURE:BFD) reports it has started linecutting on its Kent Block, 100% owned, Urban property, Quebec. The objective is to establish new drill targets on the Kent Block.
A 28.6 kilometre grid is being established on the Kent Block, located adjacent to the Souart property which was recently acquired by Osisko Mining (Previously Oban Mining). The Osisko Souart property contains a gold deposit located less than 500 metres, and along strike from the planned Beaufield linecutting. The Souart deposit contains a historical resource as described in Osisko’s February 3rd, 2016 news release.
A high sensitivity airborne magnetic survey over the entire Urban area including, Souart, indicates that same geology straddles both properties. The main magnetic feature associated with the Souart zone has not been drill tested on Beaufield’s property.
A ground geophysical program consisting of a deep penetrating induce polarization (IP) survey and a magnetometer survey will be undertaken upon completion of the linecutting program.
Beaufield’s drill program is currently underway on the Macho Block and about to start on the Rouleau Block as indicated on the adjoined map.
Beaufield’s 12,915 hectares, flagship Urban property is centrally located within the Urban-Barry gold camp, near infrastructure and is easily accessible by road. The Urban area one of the most active gold exploration camps in Quebec with many companies operating in the area including Osisko Mining, Bonterra Resources, Urbana Corporation and Metanor Resources.
Please refer to Beaufield’s website for a map indicating the principal stakeholders for the Urban region and their relation to Beaufield holdings.
This news release has been prepared by Mathieu Stephens, P.Geo., Vice President of Exploration and Corporate Development for Beaufield, the Qualified Person, as defined by National Instrument 43-101.
Beaufield is a well financed mineral exploration company with its exploration activity focused in Quebec. Beaufield is 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 with approximately $3 million in cash, 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.