Beauce Gold Fields Drills up to 11 g/t Identifies a Possible Source of the Historical Gold Placers
Beauce Gold Fields Drills up to 11 g/t
Identifies a Possible Source of the Historical
Gold Placers
Montreal, Quebec--(Newsfile Corp. - November 1, 2023) -
Beauce Gold Fields (TSXV:
BGF) (Champs D'Or en Beauce),
referred to as "BGF" or the "Company," is pleased to announce
results of a recent drilling program of 8 diamond drill holes totaling 501 meters carried out at the Grondin
gold showing on the Beauce Gold property situated in Beauceville, Quebec and has identified a
promising structure which could be one of the sources which hypothetically could have supplied the
historical gold placers of the Gilbert river valley located in Saint-Simon-les-Mines.
HIGHLIGHTS
Identification of a promising structure which could be one of the sources and which hypothetically
would have supplied the gold placers of Saint-Simon-les-Mines.
A high-grade antiform fold gold structure was identified by these drillings, up to 11.4 g/t
The Grondin mineralized zone remains open laterally and at depth. The mineralized zone extends
over several hundred meters. The zone seems to draw an antiform fold structure.
Image: Location of drilling, Antiforms and Placer Channel
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Patrick Levasseur, President and CEO of Beauce Gold Fields, stated, "These drilling results have
unearthed a highly promising structure that could potentially be one of the sources responsible for the
historical gold placers in Saint-Simon-les-Mines.
The discovery of a high-grade antiform fold gold
structure, with grades of up to 11.4 g/t, is particularly exciting.
The Grondin mineralized zone's lateral and
depth extensions, along with the presence of mineralized blocks, suggest significant exploration
potential.
Our exploration efforts are guided by the possibility of uncovering a substantial lode gold
deposit, and these results are a significant step forward in that direction."
The mineralized zone, which was intercepted by drilling, indicates that the Grondin zone measures more
than 40 meters in depth vertically.
This zone extends over 70 meters in width and would remain open at
depth.
The mineralized structure was found over 300 meters NE of the primary showing. Mineralized
blocks were found on the surface SW of the main trench.
This debris from the vein suggests that it
remains open for hundreds of meters towards the SW and the NW.
Other antiform folds cross the
property, and other gold zones could be present.
Axes of antiforms forming a Saddle Reef formation is
the predominant geological model for potential lode gold discoveries and a possible source of the
historical paleoplacer gold deposit.
Table: Mineralized Segments
Hole No
From (m)
To (m)
Interval (m)
Au (g/t)
RG-23-01
11
14
3
1.7
Including
12.5
13.5
1
2.5
And
17.3
19.5
2.2
5.4
Including
18.5
19.5
1
8.85
Including
19
19.5
0.5
11.4
And
21.5
24
2.5
1.8
RG-23-04
8.5
14.5
6
1.08
Including
12
14
2
1.9
Including
13
13.5
0.5
3.6
RG-23-05
37.5
41
3.5
3
Including
38
39
1
6.5
Including
38
38.5
0.5
10.88
RG-23-06
42.5
43
0.5
2.8
And
45.5
47.5
2
0.16
RG-23-07
34
36.5
2.5
0.51
Including
35.5
36.5
1
0.81
Including
36
36.5
0.5
1.27
And
37.5
39
1.5
0.35
And
50
51
1
0.92
Including
50.5
51
0.5
1.6
RG-23-08
27
28
1
0.31
And
48.2
50
1.8
1.1
Including
48.5
49
0.5
2.2
Drill hole GR 23-01 crossed the entire length of the mineralized zone over 36 meters. This drilling
intersected three (3) gold zones between 11 and 24m. All areas are associated with stockworks that are
more or less rich in sulphides. The mineralized zones are strongly affected by significant deformation
leading to loss of the core and more precisely at the end of this drilling. This drilling intersected three
zones, including a more significant one grading 5.4 g/t Au over 2.2m.
Hole GR 23-02 was implanted at the same position as GR 23-01 but with an angle of -70°. Based on
surface measurements, it was interpreted that the dip of the area was towards the NW. We quickly
realized that the latter had not intercepted the large zone found in the first drilling. The zone folds and
returns in depth towards the SE. According to the results of drill core analyses, the mineralized zone is
slightly observed in drilling RG 23-02
Hole RG 23-03 was placed a few dozen meters NW of the collars of the first two holes to verify for the
rest of the program the direction of the dip of the mineralized zone. No zone of interest was found in this
drilling.
Hole RG 23-04 was located to the NE of the stripped zone with the aim of verifying the extension of the
zone towards this direction. A 2m zone was crossed, grading 1.9 ppm Au, including a grade of 3.6 g/t Au
over 0.5m noted in this zone.
Holes GR 23-05 and 06 boreholes were oriented to form a scissor (cross cut) by reaching the depth of
the first three boreholes.
RG 23-05 found the main zone approximately 25 meters southeast of the RG
23-01 area and approximately 40 meters vertically below the surface. According to our interpretation, the
mineralized zone grading 3 g/t Au over 3.5m would correspond to the actual thickness of that zone.
Hole RG-23-06, located in the same position as hole 5, was inclined at -80° in order to intersect the zone
at greater depth. It appears that the area was partly affected by shear truncating it. A 0.5m intersection
assayed 2.8 g/t Au.
Drill holes RG 23-07 and RG 23-08 tell us that the gold zone extends towards the NE of the primary
showing. The grades and thicknesses are lower than other drilling that has crossed the area. The shear
zones have significantly affected the strength of the mineralized zone.
Host structures. The S1 schistosity of the surrounding rock, which runs along the mineralized zone,
shows a dip of -70° towards the SW. The first three drillings, however, demonstrated that the dip of the
mineralized zone turns at depth from SW to NE. This area seems to draw a limb of an antiform fold.
The
gold zone could be dislocated and shifted by step caused by shear faults. The highest gold contents
(+10 ppm Au) were associated with sulphides, particularly in a massive pyrite.
Arsenopyrite would not be
the primary gold source on the Grondin showing.
It should be noted that the host structures are interpreted to be steeply inclined at the surface and
become subhorizontal at depth. Actual widths are unknown at this time. Multiple orientation veins
transverse to primary host structures are commonly observed in drill core, which could lead to uncertainty
in the actual width of the mineralized zone.
All drilling recovered HQ cores. Drill cores were split in half using a diamond saw.
Half of the core was
sampled and sealed in clean plastic bags before being shipped for assay. The remaining half of the core
was replaced in core boxes and is stored at the Company's core shack in Saint-Simon-les-Mines.
Standards and blanks are inserted in the sequence of samples on-site as quality assurance and quality
control.
Drill core samples were submitted to MSA in Val-d'Or, Quebec.
MSA is an ISO-17025
accredited laboratory for the photon assay method.
Jean Bernard, B.Sc. Geo., a qualified person as defined by NI 43-101, has reviewed and approved the
technical information presented in this release.
About the Grondin Zone outcrop
The Grondin outcrop reveals a substantial mineralized quartz vein stockwork of the Crack and Seal type,
visible along the axis of the antiform. This axis outcrop extends 500 meters northeast along strike on the
northwest portion of the Beauce Gold property. Notably, it lies approximately 3 kilometers northwest from
the 19th-century placer gold mines at Giroux Creek and the Gilbert River, paralleling the historical placer
gold deposit of St-Simon-les-Mine. Among the samples collected, two showed particularly high gold
grades: sample 81755 at 2.11 grams/ton and sample 81763 at 10.9 grams/ton (GM 70761 Réjean
Hébert, geologist, June 2018). The Company also conducted grab samples, with results ranging from
200 ppb Au to 1,400 ppb Au.
About Beauce Gold Fields
Beauce Gold Fields is focused on exploring and developing the largest placer gold district in eastern
North America. The Company's objective is the trace old placer gold workings back to a bedrock source
to uncover economic lode gold deposits.
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 some of the largest gold nuggets in Canadian mining history (50oz to
71oz). (Source Sedar: 43-101 Report - Beauce July 4
th
2018, , Author B. Violette)
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
www.beaucegold.com
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