Beauce Gold Fields Completes Rang St- Gustave Trench Work; More than 100 Samples Sent to Laboratory
Beauce Gold Fields Completes Rang St-
Gustave Trench Work; More than 100 Samples
Sent to Laboratory
Montreal, Quebec--(Newsfile Corp. - January 6, 2021) -
cGold Fields (Champs D'Or en Beauce)
(TSXV: BGF)
("BGF"),
is pleased to announce that it has completed its trenching and rock outcrop
exploration program
in the Rang St-Gustave sector of the gold property located in St-Simon-Les-Mines
in the Beauce region of southern Quebec.
Patrick Levasseur, President and CEO of Beauce Gold Fields said, "The Rang St-Gustave area was the
site of the only major placer mining and dredging operation in eastern North America. In this same
sector, the company discovered a major geological fault which could explain, in part, the gold bearing
structures." Mr. Levasseur added: "The data provided by the survey and sampling of the trenches will
better guide our future rock drilling program to uncover the source of the gold placers."
Figure 1. Location of the trenches made in the St-Gustave sector and trajectory of the Yuba dredge used
during the exploitation of the gold placer.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6198/71491_8f985449a4a5e950_001full.jpg
Mechanized excavations of the overburden (Quaternary deposits and soils) exposed the bedrock before
it plunges deeper into the historical placer gold channel. Geological mapping and structural study to the
east and west of Rang St-Gustave road will provide a detailed study of the orientation of the folds, shear
zones and rock fracturing. This data will be used to optimize the drilling program to come.
The 2020 exploration program mechanically excavated 46 trenches and outcrops (mainly trenches). In
addition, the exploration team collected:
100 rock samples taken by channel cuts using a diamond saw (in the trenches)
9 bulk samples of rocks taken from the trenches
28 samples (bulk) of rock outcrops from the property
4 bulk samples (composite samples) of approximately 100 lbs each (trenches Tr-2020-01, Tr-
2020 02, Tr-2020-05 and Tr-2020-51)
These samples were sent to the laboratories of INRS (Québec City) and subsequently to the laboratories
of Actlabs (Ancaster, On).
Analysis of the samples will provide a geochemical study to establish certain associations between gold,
silver and metals indicative of mineralization like As, W, Sb, also known as tracer elements, and which
were a feature of the gold mineralization found in the Poulin 10008 trench and to the historic placer gold
deposit (see BGF press release of March 2, 2020).
All the trenches were accurately mapped using an RTK GPS system and photographed at high
resolution to produce quantitative photogrammetric imagery. Subsequently, the trenches located on
private land were filled in and smoothed to allow natural reforestation. The company expresses its
gratitude to all private property owners who have given BGF access to their property. Trenches, on land
owned by the company, have been left open for future access. The company blocked access to its
property and cordoned off the perimeter of the open trenches for security reasons.
The analysis of samples could provide a geochemical study to establish certain associations of gold to
silver ratios and the elements Au-As-Sb, also known as the Tracer Elements, that were characteristics of
the gold mineralisation found in Poulin Trench 10008 and to the historical placer gold deposit (see BGF
press release March 2, 2020).
Marc Richer-LaFlèche, Ph.D. Geo., a qualified person as defined by NI 43-101, has reviewed and
approved the technical information presented in this release.
Reference to the historical placer gold deposit does not comply with the CIM reporting standards
National Instrument 43-101 for mineral resources or reserves and should not be relied upon. While
the Company considers historical estimates and the calculated Gold Exploration Target* for the entire
historical placer channel to be relevant to investors as it may indicate the presence of mineralization,
the Company is not treating these historical estimates as a current mineral resource.
Options distribution
The Corporation has granted 1,480,000 stock options to Members of Board, Officers and to a consultant
of the Corporation.
The stock options are exercisable for a period ending January 6, 2025, at an
exercise price of $0.12 per share.
The options have been granted under and are subject to the terms and conditions of the Corporation's
Stock Option Plan.
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 site of Canada's first gold rush that pre-dates the Yukon Klondike.
The Beauce region hosted
some of the largest historical placer gold mines in Eastern North America that were active from 1860s to
the 1960s It produced the largest gold nuggets in Canadian mining history (50oz to 71oz)
Comprising 152 contiguous claims and 7 real estate lots, the project area contains a six kilometer long
placer channel consisting of an unconsolidated gold-bearing auriferous units of a lower saprolite and an
upper brown diamictite. The Company has calculated a Gold Exploration Target for the entire historical
placer channel ranges between
61,000 ounces
(2,200,000 m3 @ 0.87g Au/m3) and
366,000 ounces*
(2,200,000 m3 @ 5.22 g Au/m3).
*Source: Beauce July 4
th
2018[43-101 Report.
The Company has identified a major Fault Line that coincides with an interpreted fault structure
across
the property. Evidence suggests the erosion of the Fault Line as a probable source of the historical
placer gold channel.
Beauce Gold Fields website
www.beaucegold.com
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
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/71491