Beaufield Expands Launay Property
26 April 2014 - 12:00AM
Marketwired
Beaufield Expands Launay Property
MONTREAL, QUEBEC--(Marketwired - Apr 25, 2014) - Beaufield
Resources Inc. ("Beaufield" or the "Corporation") (TSX-VENTURE:BFD)
is pleased to announce that Melkior Resources Inc.("Melkior") has
acquired 53 new claims by map designation covering 23.64 square
kilometres in Launay Township located 40 km west of Amos, Quebec.
Launay project now totals 136 claims and 56.31 square
kilometres.
Under the terms of an option and joint-venture agreement signed
in November 2013, Beaufield has the option to earn an interest of
up to 50% in the Launay project by incurring exploration
expenditures aggregating $1,250,000 over five years, Beaufield will
earn 10% interest for each $250,000 of exploration expenses. To
date Beaufield has earned a 10% interest in the Launay Gold
Project. Melkior is the operator on the Project.
The Launay gold project covers the Launay granitic intrusion
which hosts a gold mineralized trend approximately 3 kilometres
long. The new claims cover volcanic rocks which surround the Launay
altered granite and are adjacent to Melkior's Launay Gold project
and Royal Nickel's Dumont Nickel property. This prospective area
has received little exploration activity in the past and will form
part of the Melkior-Beaufield option and joint venture
agreement.
Beaufield considers the Launay property to have significant
potential for a large tonnage gold deposit in an area with
excellent infrastructure. Recent drilling by Beaufield-Melkior on
Zone 75 has indicated wide intersections of gold
mineralization:
- 3.92 g/t gold over 13.40 metres in hole LAY-15-2013 (January
13th news release)
- 6.20 g/t Gold over 10.5 metres in hole LAY-20-2013 (February
18th news release)
- 4.04 g/t gold over 15.52 metres in hole LAY-21-2013 (March 18th
news release)
Please refer to the Beaufield website for the location of the
expanded Launay property.
A map is available at the following link:
http://file.marketwire.com/release/beaufield_map0425.pdf
About the Launay Gold Project:
The Project is located in the active Abitibi Greenstone belt
approximately 70 kilometres northeast of Rouyn-Noranda and 80
kilometres northwest of Val d'Or. It is accessible via highway 111,
30 kilometres west of Amos where all accommodations, supplies and
services are available. Power and rail lines cross the property.
The property consists of 136 claims or 56 square kilometres. The
gold occurs in altered, mineralized granite which has been traced
for at least 3 kilometres. Two zones have seen limited near surface
drilling namely Zone 75 and the Principal Zone. The area remains to
be fully explored along strike and at depth. There is potential for
a significant open pit gold resource.
About
Beaufield:
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, 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.
Jens E. Hansen, President and CEO514.842.3443 / Fax:
514.842.3306info@beaufield.comwww.beaufield.com
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