Beauce Gold Fields Starts Exploration Work on Newly Identified Targets
MONTREAL, May 22, 2019 - Beauce Gold Fields Inc. (Champs D’Or en Beauce) (BGF) (TSX Venture: ¨BGF¨) is pleased to announce that exploration work on its St-Simon Les Mines property is currently underway to follow-up on the various geophysical anomalies detected during the 2017 – 2018 surveys.
Patrick Levasseur, President and CEO of Beauce Gold Fields Inc., said, "The start of exploration work on our property is an important milestone for our company. In fact, this work will enable us to correlate the many various geophysical anomalies and to identify potentially mineralized zones that could possibly lead to a hard rock source of the gold contained in the placers of St-Simon-les-Mines."
WORK TO IDENTIFY POTENTIALLY MINERALIZED ZONES PARALLELED TO THE MAJOR FAULT LINE PREVIOUS IDENTIFIED IN ALIGNMENT WITH OLD PLACER GOLD MINES
The prospecting, sampling and stripping that will be undertaken is a follow-up to the 2017-2018 audiomagnetotelluric (AMT), gravimetric and magnetometric studies carried out in the St-Simon-les-Mines by Dr. Marc Richer-Laflèche of the National Institute of Research and Development of Science (INRS). Dr. Marc Richer-Laflèche recommended, in his geophysical report, (Frequency and Frequency Magnomagnetic and Electromagnetic Surveys, September 2018), a systematic rock and soil sampling to interpret the geophysical anomalies.
Channel sampling of quartz and volcanitc rock out crops discovered north of the proposed geological fault line will be completed. In non-outcrop portions of this area, a soil survey will be conducted to identify potential in situ gold anomalies that may explain the potential source of detrital gold observed and to the establish the mode of implementation of gold in the region.
The purpose of this work will be to determine a possible in situ source of gold. Note that parrellel to the proposed major fault line in the Gilbert river valley, several placer gold mines were active from 1860s to 1960s. The 19th and 20th century placer gold mines align with the northern edge of the gravity pit highlighted by a Bouguer anomaly. Nuggets discovered in detrital material of glacial origin triggered the first Canadian gold rush before the Yukon’s Knlondike gold rush.
Robert Gagnon, P. Geo., a qualified person as defined by NI 43-101, has reviewed and approved the technical information presented in this release.
About Beauce Gold Fields Ltd.
Beauce Gold Fields Inc. is a gold exploration company focused on placer to hard rock exploration in the Beauce region of Southern Quebec. The Company’s flagship property is the St-Simon-les-Mines Gold project, a unique, historically significant gold property located in the municipality of Saint-Simon-les-Mines. Comprising of a block of 152 claims as well as 7 real estate lots, the project area hosts a six kilometre long unconsolidated gold-bearing sedimentary unit (a lower saprolite and an upper brown diamictite). Textural observations (angularity) of gold nuggets suggest a relatively proximal source and therefore a short transport distance. The gold in saprolite indicates a close proximity to a bedrock source of gold, providing possible further exploration discoveries. The property was host to Canada’s first gold rush before the 1890s Klondike gold rush. It hosts numerous historical gold mines that were active from 1860s to the 1960s (see HPQ SEDAR-filed July 4 2018 43-101 report).
Beauce Gold Fields Inc. website www.beaucegold.com
BGF Presentation: http://beaucegold.com/wp-content/uploads/2019/04/BGF-Presentation-20191.pdf
Disclaimers:
This press release contains certain forward-looking statements, including, without limitation, statements containing the words "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "in the process" and other similar expressions which constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements reflect the Company's current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding mineral exploration. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company's on-going filings with the securities regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information contact
Patrick Levasseur, President and CEO Tel: (514) 262-9239
Bernard J. Tourillon, Chairman and COO Tel (514) 907-1011
www.beaucegold.com
Shares outstanding: 18,716,666
An image accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e118eacf-801a-40eb-b95d-e2fc845b7444
