Beaufield Announces Filing of Technical Report
MONTREAL, Feb. 09, 2018 (GLOBE NEWSWIRE) -- Beaufield Resources Inc. ("Beaufield" or the “Corporation”) (TSX VENTURE:BFD) announces the filing of an independent National Instrument 43-101 (“NI 43-101”) technical report (the “Technical Report”) on the Lac Rouleau Block of the Urban Project.
The Technical Report, dated February 8, 2018, was prepared by Alain Beauregard, P. Geo. and Daniel Gaudreault, Eng. from Geologica Groupe-Conseil Inc.
Beaufield's Urban Project is located in the Abitibi area, approximately 190 km northeast of the town of Val d’Or. The Project is comprised of four separate claim blocks covering 22,327 hectares strategically located within the emerging Urban-Barry gold camp. Several prospective projects are present in the area, including Osisko Mining's Windfall project which is adjacent to Beaufield's holdings. The area is currently one of the most active gold exploration camps in Quebec.
The Lac Rouleau Block has been the focus of much of Beaufield’s recent exploration effort as it has the highest concentrations of gold occurrences from drill holes and historical surface showings of the Corporation’s holdings. Historic exploration has concentrated on the central and southern portions of the property while the northern portion of the property remains largely unexplored.
Three main mineralized zones (Zone 14, 17 and 18) have been traced by drilling over a 1.4km strike length hosted within the Rouleau Shear Zone (the “RSZ”). The RSZ is considered a 20m to 40m wide corridor that strikes ENE/WSW with a near vertical dip. Zone 18 is considered the most significant, characterized by gold mineralization hosted in a silicified and carbonate altered breccia.
The authors of the Technical Report firmly believe in the exploration potential of the property and recommend an initial phase including geoscientific compilation, 3D compilation of the mineralized zones showing significant continuity, surface exploration work, ground geophysical surveys, geochemical sampling and detailed mapping followed by a second phase beginning with a 3,000 m drilling program.
“Geologica’s comprehensive review of the exploration work completed on our Lac Rouleau project represents an important first step in our current target assessment and future exploration plans. We remain enthusiastic about the geologic potential offered by our strategic position within this emerging gold camp,” stated Ron Stewart, President and CEO of Beaufield.
Readers are cautioned that this Technical Report was prepared to fulfill continuous disclosure requirements and the Technical Report does not disclose a resource estimate. A copy of the Technical Report has been filed on SEDAR.
Qualified Persons
This news release has been prepared 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. Technical disclosure in this news release has been reviewed and approved by Alain Beauregard, P. Geo. and Daniel Gaudreault, Eng. from Geologica Groupe-Conseil Inc., independent Qualified Persons as defined by NI 43-101.
About Geologica
Based in Val d’Or, Quebec, Geologica Groupe-Conseil Inc. has been offering geological services to the mining and mineral exploration industries for close to 30 years. It has an extensive and deep understanding of the Abitibi geology and was chosen by Beaufield because of its expertise. Geologica was instrumental and played a key role in a string of recent discoveries in the Abitibi region.
About Beaufield:
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.
Ronald Stewart, President and CEO : Tel: 647.409.0293
Mathieu Stephens, VP Exploration and Corporate Development: Tel: 514.842.3443
E-mail: info@beaufield.com
Web: www.beaufield.com
Investor Relations: Jason Monaco, Partner at FCCC: Tel: 416.566.8894
E-mail: jmonaco@firstcanadiancapital.com
Web : www.firstcanadiancapital.com
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.
