Beaufield and Melkior Advance and Expand Work on Launay
June 26 2014 - 10:15AM
Marketwired Canada
Beaufield Resources Inc. ("Beaufield" or the "Corporation") (TSX VENTURE:BFD) is
pleased to announce that Melkior Resources Inc.("Melkior"), the operator, has
started its summer exploration program on the Launay gold project located 35 km
west of Amos, Quebec.
The exploration program will principally focus on Zone 75 and consists of
channel sampling areas covered by a 2013 grab sample program. In 2013 several
grab samples were taken in and around Zone 75 where several samples returned
gold values greater than 1g/t and corresponded to an albite-rich mineralized
zone, referred to as the "white unit". The zone is oriented north-south and
visible at surface 50 metres north of Zone 75 and 20 metres to the south. The
nearest drill hole is located 50 metres from the white unit. The channel samples
will systematically test the white unit and the results will be integrated with
previous drilling to assist in a preliminary 43-101 resource estimate on the
near surface gold mineralization.
Further surface prospecting and geological mapping will also be conducted
further south, where favorable gold bearing structures have been interpreted by
geophysical methods.
Beaufield considers the Launay property to have significant potential for a
large tonnage gold deposit in an area with excellent infrastructure. Recent
drilling by Beaufield-Melkior in 2013 and 2014 on Zone 75 has revealed wide near
surface gold mineralized intersections:
-- 3.92 g/t gold over 13.40 metres in hole LAY-15-2013 (January 13th news
release)
-- 6.20 g/t Gold over 10.5 metres in hole LAY-20-2013 (February 18th news
release)
-- 4.04 g/t gold over 15.52 metres in hole LAY-21-2013 (March 18th news
release)
The Launay gold project covers the Launay granitic intrusion which hosts a gold
mineralized trend approximately 3 kilometres long. Several other gold showings
exist outside this trend.
Under the terms of an option and joint-venture agreement signed in November
2013, Beaufield has the option to earn an interest of up to 50% in the Launay
gold project by incurring exploration expenditures aggregating $1,250,000 over
five years, Beaufield will earn 10% interest for each $250,000 of exploration
expenses. To date Beaufield has earned a 10% interest. Melkior is the operator
on the project.
Please refer to the Beaufield website for the location of the expanded Launay
property.
About the Launay Gold Project:
The Project is located in the active Abitibi Greenstone belt approximately 70
kilometres northeast of Rouyn-Noranda and 80 kilometres northwest of Val d'Or.
It is accessible via highway 111, 35 kilometres west of Amos where all
accommodations, supplies and services are available. Power and rail lines cross
the property. The property consists of 136 claims or 56 square kilometres and
adjoins Royal Nickel's Dumont Nickel property. The gold occurs in altered,
mineralized granite which has been traced for at least 3 kilometres. Two zones
have seen limited near surface drilling namely Zone 75 and the Principal Zone.
The area remains to be fully explored along strike and at depth. There is
potential for a significant open pit gold resource.
Qualified Person
This news release has been prepared by Jens E. Hansen, Eng., CEO, President and
director of Beaufield, the Qualified Person, as defined by National Instrument
43-101.
About Beaufield
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, 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
MI3 Financial Communications
Mario Drolet, President
514.904.1333
Cell.: 514.346.3813
514.904.2331 (FAX)
mario@mi3.ca
Jens E. Hansen, President and CEO
514.842.3443
514.842.3306 (FAX)
info@beaufield.com
www.beaufield.com