2012-12-11 14:34:16 -
MONTREAL, QUEBEC -- (Marketwire) -- 12/11/12 -- Beaufield Resources Inc. ("Beaufield" or the "Company") (TSX VENTURE:BFD) is pleased to announce the start of a helicopter electromagnetic survey over several portions of its 100% owned Troilus property, located 150km north of Chibougamau, Quebec. The survey will focus on previously identified geophysical targets located in the vicinity of the Tortigny high-grade volcanic massive sulphides ("VMS") deposit, on which a resource calculation has just been released (see press release November 28th, 2012).
The Company has also staked a number of new claims in the vicinity of the Tortigny deposit. Beaufield has identified the area as having a high potential for finding additional VMS type mineralisation and the new ground will improve the likelihood of success in finding new mineral resources in the area.
Geotech Ltd. of Aurora, Ontario ("Geotech") will complete the 708 line-kilometre, helicopter-borne versatile time-domain electromagnetic ("VTEM(plus)") and magnetic gradiometer survey. The detailed survey with 100 metre line spacing will cover eight distinct blocks, centered over high priority Electromagnetic, MegaTEM anomalies located in the vicinity of Tortigny deposit area. Geotech's VTEM(plus) system has been shown to be excellent at identifying conductive, massive-sulphide bodies as well as mapping lateral and vertical variations in resistivity. The VTEM system is also equipped with a high sensitivity magnetometer which can aid in mapping geologic structures and lithology. This type of survey is known for its exceptional depth penetration and provides a more accurate definition of targets than conventional systems.
The Tortigny deposit, containing Measured and Indicated Resources of 845,000 tonnes grading 2.01% Copper, 4.29% Zinc, 55.29 g/t Silver, 0.39 g/t Gold (NI 43-101 Compliant), has a strong geophysical signature, highly visible, on a previous VTEM survey conducted by Geotech for Noranda Inc in 2004. Based on the previous success Beaufield considers that the VTEM technology is the best tool available for prospecting for massive sulphides in the Troilus Project vicinity.
The newly completed resource estimate on the Tortigny deposit encouraged Beaufield to strengthen their land position in the area by map-staking 83 new claims, totaling 4483.24 hectares. The new claims are primarily located over previously identified MegaTEM targets which may indicate the presence of conductive material, such as massive sulphides. In most mining districts, VMS deposits tend to occur in clusters and Beaufield's geological team believes this is the case for the Troilus property.
This news release has been prepared by David Rivard, P.Geo., Vice-President Exploration of Beaufield, Qualified Person under section 43-101.
Beaufield is a mineral exploration company with its exploration activity focused in Quebec. With approximately $8 million in working capital, including $2 million in flow-through financing to be dedicated for exploration by the end of 2013, Beaufield is well positioned to advance its excellent portfolio of properties and identify other potential opportunities in the mineral exploration or development stage that we can add value to on behalf of our shareholders.
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 Company cannot provide any guarantee as to the materialization of the expectations reflected in these forward-looking statements. The Company 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.
Kevin Weston, President
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