MONTREAL, QUEBEC–(Marketwired – Oct. 13, 2015) – Beaufield Resources Inc. (“Beaufield”) (TSX VENTURE:BFD) is pleased to announce the completion of its fall drill program on its 100% owned Urban Township gold property totaling 9,756 hectares.
A total of 15 holes, totalling 1,693 metres was drilled on Beaufield’s Macho River project, which is part of the Urban property.
The program was meant to test high-priority geophysical anomalies that had been identified with a deep penetrating induced polarization (IP) survey earlier in the year. Several of the targets were located near areas known to host significant mineralization of gold, silver, copper and molybdenum. Gold is often associated with sulfide mineralization in the region.
2 holes were drilled in the western portion of the property, a strong IP anomaly was identified approximately 400m to the southwest of the West Showing where a grab sample assayed 14.8 g/t Au, 156.0 g/t Ag and 1.61% Cu in 2014 (BFD news release, August 1st, 2014).
In the central portion of the property, 4 holes tested strong IP anomalies where chalcopyrite had been identified at surface.
On the east side of the property and closer to the Macho River, several important targets were drilled. 2 Holes tested IP targets interpreted as the extension of the East Showing where a grab sample assayed 20.0 g/t, 54.9 g/t Ag and 2.43% Cu in 2014 (BFD news release, August 1st, 2014). Further south, 2 others holes tested IP targets where chalcopyrite and molybdenite mineralization was uncovered this past summer.
5 additional holes tested IP targets further south, including a 500m long and intense IP anomaly where no outcrops are known to exist.
Geologists identified sulfide minerals in several of the holes. Assay results for this initial drill program should be received within 4 weeks. A follow-up drill program for the area is scheduled to start in January 2016 and will include additional drilling on the above targets and new targets. Additional drill holes are also being planned on the historical Rouleau gold occurrence.
Beaufield’s property is located near infrastructure and is easily accessible by road. The Urban area is an active area with many companies operating in the area including Oban Mining, Bonterra Resources, Urbana Corporation and Metanor Resources. Please refer to Beaufield’s website for a detailed map indicating the principal stakeholders for the Urban region.
This news release has been prepared by Mathieu Stephens, P.Geo., Chief Geologist for Beaufield, the Qualified Person, as defined by National Instrument 43-101.
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 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.