Beauce Gold Fields Presents Results of a Geoelectric Survey Under the Former Gold Mines of Saint-Simon-les-Mines
August 06 2019 - 9:20AM
Beauce Gold Fields (Champs D’Or en Beauce) (BGF) (TSX
Venture: ¨BGF¨) is pleased to announce the results of a
geoelectric tomography survey conducted in the western section of
the Beauce Gold property in the town of St-Simon-Les-Mine located
in the Beauce region in southern Quebec. The 2D inversion models of
electrical resistivity and induced polarization (IP) indicate the
presence of a structural discontinuity interpreted as the
southwesterly extension of the major fault detected by the 2017 and
2018 geophysical surveys. This structure, which is locally
associated with Induced Polarization (IP) anomalies, has been
located beneath former (placer) gold production shafts and near the
discovery sites of the largest gold nuggets in the Gilbert River
valley. Induced polarization anomalies suggest the presence of
disseminated sulphides in volcaniclastic rocks. These sulphides may
be associated with the presence of gold mineralization in the
bedrock.
Patrick Levasseur, President and CEO of Beauce Gold Fields,
said, "The results of the geoelectrical tomography survey is
another solid piece of evidence that narrows our exploration
efforts to find the bedrock source of the gold-bearing placers of
Saint-Simon-les-Mines." Mr. Levasseur added: "Our rock outcrop
sampling program is currently underway and is proceeding excedingly
well. We should be able to provide an updated shortly.“
Figure 1. 2D inversion model of induced
polarization data (electrical chargeability) of line
2https://www.globenewswire.com/NewsRoom/AttachmentNg/8dad4989-d5c9-47aa-8188-e1524b32ffa3
The location of the two lines of the geoelectric
tomography survey is shown on the Figure 2 map. The lines are
located in a wooded area and crosses the Gilbert River before (line
2) and after the confluence with Giroux Creek (line 1) (Figure 2).
The lines were established based on the gold potential of the area
as evidenced by the large number of gold bearing shafts and the
discovery sites of the largest historical gold nuggets in
Canada.
Figure 2 - Location map of lines 1 and 2 of the
geoelectric tomography
surveyhttps://www.globenewswire.com/NewsRoom/AttachmentNg/d2c33c46-f91b-4fe4-a960-b62dad455878
The geoelectric tomography survey demonstrates
the presence of distinct lithological blocks located on both sides
of the Gilbert River. North of the river, the rocks are
systematically more resistive. This observation implies the
presence of contact between units of sedimentary rocks in the south
(St-Victor Formation), which shows relatively few induced
plolarization anomalies, and volcaniclastic dominant units
(Beauceville Formation) in the north of the Gilbert River. The
latter being characterized by strong anomalies of electrical
chargeability. As observed in the field, volcaniclastic units are
affected by brittle deformation frequently associated with the
injection of quartz veins and carbonates. In contrast, these
structures are infrequent in the shale-rich units of the St-Victor
Formation.
The faulted contact between the St-Victor and
Beauceville Formations is further indicated by the magnetic and
gravity contrasts observed in this sector. These contrasts of
physical properties of the rock units can not be explained by a
simple synclinal structure. As a result, the presence of a fault is
highly likely in the Gilbert River area. Note that Line 2 passes
near old gold mining wells of the 19th and 20th century. Remnants
of these are still visible in the area of the anomaly located
below the 600m station (Figure 1).
An exploration program that consists of
prospecting, sampling, and channeling outcrops of the Beauceville
Formation north of the Gilbert River is currently underway.
Two lines of the geoelectric tomography survey
were part of a major geophysical and geological work carried out in
2017 and 2018 on various sections of the property between the
Municipalities of St-Simon-les-Mines and St-Benjamin (press
releases from HPQ May 11, 2017, and fo BGF April 30, 2019) which
indicated the probable presence of a large fault that extends over
4.5 km and is in alignment with the former placer gold mines
(report entitled "REPORT OF GRAVIMETRIC SURVEYS AND GEOELECTRIC
TOMOGRAPHY OF 2018 ", written by Professor Marc Richer-LaFlèche of
INRS)
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
Beauce Gold Fields 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 one in the Yukon Klondike. It
hosts some of the largest historical placer gold mines in Eastern
North America that were active from 1860s to the 1960s (see HPQ
SEDAR-filed July 4 2018 43-101 report).
Beauce Gold Fields 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
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