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MONTREAL, QUEBEC--(Marketwired - Feb 18, 2016) - Beaufield Resources Inc. ("Beaufield") (TSX VENTURE:BFD) is pleased to announce details on its upcoming drill program at its 100% owned Urban property, Quebec. The Urban property consists of three blocks of claims (Rouleau, Macho and Lac Kent) centrally located within the Urban-Barry greenstone belt.
On December 8, 2015, Beaufield announced results from a fall drill program on its Macho block where drill hole BU-15-07 intersected 7.86 g/t gold over 6 metres near surface. The hole was drilled to test a 1,400 metres long strong induced polarization (IP) anomaly identified earlier in the year and where surface sampling had assayed 20.0 g/t gold, 54.9 g/t silver and 2.43% copper in a grab sample (August 1st, 2014 news release). The March 2016 drill program is designed to test the potential extension of the mineralization along strike and at depth.
The drill program will also target other high priority IP anomalies that remain untested and could not be accessed in the fall. The program is being done simultaneously to Urbana Corporation's recently announced drill program which is also being managed by Beaufield and with the benefit of reducing overall costs for both companies.
Beaufield has held the property since the mid 1980s. The Urban Township has been the focus of detailed gold exploration and mining over a number of years with exploration activity in the township recently accelerating with over 75,000 metres of drilling planned by others on neighboring properties
Drill programs are currently underway at the nearby Windfall and Gladiator projects held by other companies, and Metanor Resources announced last week that the company is studying the possibility of restarting gold mining operations at the open-pit located a few kilometres from Beaufield's property.
A few kilometres beyond the Windfall deposit, is the Rouleau Zone 18 Gold project owned by Beaufield where a historical resource has been reported in Quebec government publications. Beaufield geologists are currently compiling historical work on this area in preparation for a detailed work program this summer, including drilling.
The development of these advanced projects has attracted considerable attention to the area and the added infrastructure has greatly facilitate access to Beaufield's property.
Beaufield will be attending the Prospectors and Developers Conference (PDAC) in Toronto from March 6th to March 9th, 2016. We welcome visitors to come meet management at booth #2903.
This news release has been prepared by Mathieu Stephens, P.Geo., Vice President of Exploration and Corporate Development 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 $2.5 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.