07:14:45 EDT Wed 24 Apr 2024
Enter Symbol
or Name
USA
CA



Beaufield Resources Inc (2)
Symbol BFD
Shares Issued 111,281,519
Close 2012-12-04 C$ 0.10
Market Cap C$ 11,128,152
Recent Sedar Documents

Beaufield Resources starts survey over Opinaca

2012-12-05 08:40 ET - News Release

Mr. Kevin Weston reports

BEAUFIELD ANNOUNCES HIGH RESOLUTION MAGNETIC SURVEY ON OPINACA

Beaufield Resources Inc. has commenced a high-resolution, helicopter-borne, magnetometer survey over its 100-per-cent-owned Opinaca property, located 320 kilometres north of Matagami, James Bay, Que. The survey will cover the northern portion of the property where numerous gold showings have been identified by surface exploration. The area to be surveyed is located six kilometres away from Goldcorp's Eleonore project and consists of the same geological formations that host the gold deposit.

The data garnered from the survey will aid regional geological and structural interpretation as well as identify extensions to previously identified mineralization. It is believed that gold mineralization in the area is structurally controlled, and hence the survey will provide key information for future drilling programs.

The survey instrumentation is a Colibri magnetic gradiometer system provided by NovaTEM Inc. The survey specifications are for flight lines at 50-metre spacing covering an approximate area 4.5 kilometres wide and 18 kilometres long, totalling 1,550 line kilometres.

The area surveyed will include the Vortex zone, a diopside-tourmaline alteration and replacement zone mineralized in arsenopyrite, very similar to the East-Roberto zone of Goldcorp's Eleonore deposit. During the summers of 2009 and 2010, 54 grab samples taken from the Vortex alteration zone returned values up to 19.0 grams per tonne gold. Coverage with high-resolution magnetic of all the known gold occurrences will optimize future drilling and help identify additional targets with similar magnetic characteristics.

The Opinaca property is immediately adjacent to the Eleonore gold project, which is scheduled for gold production in late 2014, with life-of-mine gold production expected to average at least 600,000 ounces of gold per year over an approximate 15-year mine life (Goldcorp news release Nov. 14, 2011).

Beaufield management believes that the newly created infrastructure nearby (all-weather year-round road and hydroelectric power line) will benefit its continuing exploration efforts in the area.

This news release has been prepared by David Rivard, PGeo, vice-president, exploration, of Beaufield, qualified person under National Instrument 43-101.

© 2024 Canjex Publishing Ltd. All rights reserved.