Beaufield Resources Inc.
TSX VENTURE : BFD

Beaufield Resources Inc.

January 06, 2017 06:30 ET

Beaufield prioritizes Urban-Windfall district Exploration

MONTREAL, QUEBEC--(Marketwired - Jan. 6, 2017) - Beaufield Resources Inc. ("Beaufield") (TSX VENTURE:BFD) is pleased to provide its Urban-Windfall district exploration plans. New drill permits have been received and drilling is scheduled to resume in January 2017.

The Urban property is to remain the principal focus of the corporation's exploration activities for 2017. Centrally located within the Urban-Windfall area, the property consists primarily of 3 blocks of claims originally acquired in 1987 when access and infrastructure were non-existent at the time. The 100% owned, 12,735 hectare property host a number of important gold occurrences and excellent geology, and is easily accessible by road year round.

A review of the property's historical data, including geology, geophysics and drilling has indicated a number of important targets on the large property. The four areas of interest below will be the main focus of the company's 2017 exploration and drilling work.

Rouleau Gold Zone

12 shallow holes have been completed in December 2016 with results expected for the second week of January. A systematic deeper drill program of up to 6,000 metres is planned for the next phase.

Golden Retriever Area

A 3,000 metre drill program is scheduled to begin in January 2017. The target zone is adjacent and on strike with Osisko Mining's Black Dog property which hosts significant gold mineralization and is presently being drilled.

Panache Zone

The Panache Zone is interpreted as the geological continuation of Osisko's new Fox gold discovery located 1,300 metres east of Beaufield's boundary. A 2,500 metre drill program is planned to test for gold mineralization at greater depth along this feature.

ET Zone

The ET structure is an untested magnetic feature similar to Osisko's Caribou Zone located less than 2 kilometres to the northwest.

Please refer to Beaufield's website for the company's corporate presentation, including maps of Beaufield's Urban property and its neighbors.

In addition to Urban, Beaufield owns properties in other mining camps

  • Hemlo adjoining Barrick Corporation's Hemlo mine that has produced over 20 million ounces of gold
  • Eleonore adjoining the Goldcorp's Eleonore gold mine a well as Eastmain Resources and Sirios Resources.
  • Tortigny, a NI 43-101 copper, zinc, silver and gold resource.

Qualified Person

This news release has been prepared by Jens Hansen, President and CEO of Beaufield, the Qualified Person, as defined by National Instrument 43-101.

About Beaufield:

Beaufield is a well financed mineral exploration company with its exploration activity focused in Quebec and Ontario. Please refer to Beaufield's website to view the company's properties in Urban-Windfall, Eleonore-Opinaca, Troilus and Hemlo where a 100% interest was recently announced. The Corporation is actively exploring, well financed with approximately $2 million in cash, 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.

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