Beauce Gold Fields Completes 30km2 Sampling and Geological Mapping the St-Simon-les-Mines Placer Gold District
MONTREAL, Oct. 17, 2019 - Beauce Gold Fields (Champs D’Or en Beauce) (BGF) (TSX Venture: ¨BGF¨) Is pleased to announce the completion of its 2019 Geological Survey and Mapping summer work program in St-Simon-les -Mines located in the Beauce region of Quebec. The program included channel sampling of rock outcrops and trenches with a complete mapping of the surrounding geology.
First to complete a geological mapping of the historical placer gold district
Geological mapping covered an area of around 30km2 centered on the St-Simon-les-Mines historical placer gold district. Special attention has been paid to accurately document the geology of rock outcrops near the Gilbert River and former 19th and 20th century placer gold mines.
First large systematic sampling of roc outcrops
Although the St-Simon-les-Mines region is known for its numerous placer gold mines, data on bedrock geology was sparse and incomplete. Quebec’s MERN geo-information system (SIGEOM) database showed that very little geological mapping and rock sampling (and geochemistry) has been done in the past.
Work carried out over the last century was mostly concentrated on placer gold mining or exploration drilling (reverse circulation (RC) and Sonic drilling) in the Quaternary overburden. Drill surveys were used to assess the placer gold deposits.
Beauce Gold Fields is therefore the first company to have completed a detailed geological mapping and a systematic sampling of the main lithological unit roc outcrops found in the Gilbert River and Giroux Creek watersheds. Given the presence of several generations of quartz veins in observed outcrops, and its potential relationship in regards to gold, special attention was paid to the structural and geochemical aspects of the work completed in 2019.
Patrick Levasseur, President and CEO of Beauce Gold Fields, stated, "We are the first exploration company to combine the use of modern geophysical surveys with a systematic sampling of sedimentary and volcanic rocks in the St-Simon-les-Mines area," Mr. Levasseur further said "In addition, it is important to point out that Beauce Gold Fields is also the first mineral exploration company dedicated to searching for the source of the Beauce’s historic placer gold deposits."
More than 200 rock samples taken for analysis
The exploration team, under the supervision of Dr. Marc Richer-LaFlèche, Ph.D. Geo of INRS, systematically prospected, sampled and mapped the main outcrops, located on both sides of Gilbert River and Giroux Creek, more specifically between Rang St-Charles and Rang VI roads. The geological mapping and structural geology work was aimed at documenting and to gain a better understanding the geochemistry of the area's sedimentary and volcanic rocks. Special attention was paid to sampling the different generations of quartz veins in the region. More than 200 samples were collected and will be assayed for gold and other trace elements of gold mineralization.
Geological mapping to corroborate geophysical surveys
Since 2017, the company and previously Uragold Bay Resources, has deployed a multidisciplinary exploration strategy involving geological studies, with an importance on structural geology and field prospecting. At the same time, geophysical surveys (audiomagnetotellurisme, magnetism, gravimetry, geoelectrical tomography, and TDEM electromagnetism of a new Russian technology) along with petrophysical studies were carried out in order to specify; the local geology, to verify the presence of deep faults and to locate potentially geophysical anomalies related to gold mineralized zones.
This new data acquired through geological mapping of rock outcrops and trenching will be used to corroborate geophysical surveys. This will be essential for the validation of geological and geophysical models that will be used to plan future exploration programs and to identify mineralized zones with the potential to eventually trace the hard rock source of placer gold.
Robert Gagnon, P. Geo., a qualified person as defined by NI 43-101, has reviewed and approved the technical information presented in this release.
Images: Trenching and channel sampling of rock outcrops - available at the following links:
https://www.globenewswire.com/NewsRoom/AttachmentNg/5b33ac0f-3f0f-4c26-95e5-ca699d823e29
https://www.globenewswire.com/NewsRoom/AttachmentNg/c799d9be-e818-45b3-9182-9ba08b698902
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, a unique, historically significant gold property located in the municipality of Saint-Simon-les-Mines. Comprising of a block of 152 claims as well as 7 real estate lots, the project area hosts a six kilometre long historical placer gold channel of an unconsolidated gold-bearing sedimentary unit comprised of a lower saprolite and an upper brown diamictite. Textural observations (angularity) of gold nuggets suggest a relatively proximal source and therefore a short transport distance. The gold in saprolite indicates a close proximity to a bedrock source of gold, providing possible further exploration discoveries. The property was host to Canada’s first gold rush before the one in the Yukon Klondike. It hosts some of the largest historical placer gold mines in Eastern North America that were active from 1860s to the 1960s (see HPQ SEDAR-filed July 4 2018 43-101 report).
More information can be found on the Company’s web site: 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
Shares outstanding: 20,734,166