MONTREAL, October 28, 2020 — Beauce Gold Fields (Champs D’Or en Beauce) (TSXV: BGF), (“BGF”), is pleased to announce the Company has successfully trenched rocky outcrops uphill the St-Gustave section of the historical placer gold channel that was mined in the 20th century. The trenches also follow along strike the major fault line identified by geophysics on the Company’s Beauce gold property located in the municipality of Saint-Simon-les-Mines in the Beauce region of Quebec.
Patrick Levasseur, President and CEO of Beauce Gold Fields, said, “We are going to have a busy fall & winter program. We’re putting to good use Company land that is now mortgage-free.” Mr. Levasseur further states, “It’s quite exciting to access promising bedrock so close to the fault line and directly upslope the placer channel once mined in the 1910s and dredged in the 1960s.”
The trenches exposed long vertical bands of fractured volcaniclastic bedrock, rusty quartz veins and black shales. The exposed rusty quartz veins are similar yet more abundant and wider than the gold bearing fractured quartz sampled from Poulin trench 10008, some 260 meters south west (BGF press release February 3rd, 2020). More trenching and outcrop sampling is to continue into the season for approximate 400 meters along strike the placer channel on the southern side of the Gilbert river, up to the opposite side of the Poulin trenches. The trenches west of St-Gustave road are on land fully owned by the Company. Further trenching and outcrop sampling will also be completed on private property to the East of St-Gustave road.
Bedrock will be washed clean to remove any potential placer gold contaminants. Channeled samples will be cut and sent to a laboratory for analysis. The data generated by the trenching and sampling campaign will help in the orientation of future diamond drill campaigns.
The excavated trenches are close to the six-kilometer long placer channel consisting of unconsolidated gold-bearing auriferous units of a lower saprolite and an upper brown diamictite (basal till). Therefore, if any of the trenches expose orange basal till, it will be sampled separately for placer gold content.
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.
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 the 1860s to the 1960s. It produced some of 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 4th 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.
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
Beauce Gold Fields is a gold exploration company focused on placer to hard rock exploration in the Beauce region of Southern Quebec.