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Montreal, Quebec--(Newsfile Corp. - June 2, 2022) - Beauce Gold Fields (TSXV: BGF) (Champs D'Or en Beauce), ("BGF" or the "Company"): is pleased to announce the start of its exploration program on the newly discovered Ditton placer channel located in Southern Quebec. The Channel holds a Tertiary placer deposit as well as the potential for a parent lode gold deposit (BGF press release April 21, 2022). The exploration program will primarily consist of 3 lines of geophysics, 50 geothech overburburden drill holes as well the processing of 180 two hundred litre glacial till bulk samples.
Patrick Levasseur, President and CEO of Beauce Gold Fields said, "The exploration of the Ditton gold placer channel and of the surrounding bedrock could lead to exciting gold discoveries," Mr Levasseur further stated. "We want to see if there is the potential for an economic placer gold deposit and, if it will provide us with more indications as to its bedrock source."
Image 1: Cross section of placer gold channel along Rang Dix looking north
To view an enhanced version of this graphic, please visit:
The Company will conduct 3 lines totalling 1km of Seismic refraction geophysics survey to accurately map the depth to competent bedrock of the Ditton placer channel. The objective will also be to validate the 1985 geophysics mapping of the channel by Cache Exploration along an axis following the Rang Dix road. The geophysics data will allow the Company to position the 50 geoprobe overburden drill holes throughout the channel to sample the glacial till for gold at depth to bedrock.
The bulk sampling will consist of 180 barrels (200 litres) of till collected from surface excavations throughout the channel with a concentrated focus on the Ditton sand quarry deposit. The samples will be processed through a gold trommel wash plant to create concentrates that will then be sent to a laboratory for further gold extraction via various separation by gravity methods.
The Ditton Placer Channel
The epicenter of the discovery is a cross section of the placer channel along Rang Dix road near the town of La Patrie in Ditton Township, Quebec. The channel is located 4 km east of the historical Mining Brook placer gold mine and 5 km west of the US New Hampshire border. It is also located 105 km south to the Company's Beauce Gold project in St-Simon-Les-Mine.
The insight that lead to the discovery was brought by a compiled analysis of the Company's exploration of the Ditton quarry (BGF press release January 20, 2022), prospector Pierre Paquette's gold sample data (BGF press release February 23, 2022) and from the study of 1980's historical exploration reports (GM42843).
Prospector Pierre Paquette first discovered gold in an operating sand quarry in Ditton Township. BGF follows this lead with a sampling program that recovered gold from every sample taken throughout the quarry. A study of the regional geology revealed that the quarry was an excavated pit of an Eastern lip of an exposed layer of a Tertiary placer channel.
In 1985, Cache Explorations undertook 36 km of geophysics throughout the Ditton & Chesham counties to study the placer gold occurrence surrounding the Mining Brook 19th century placer mines. The purpose of the seismic program was to define depths to bedrock and thickness of the glacial drifts, Quaternary overburden cover in order to interpret the substructure bedrock topography. The gold deposits were thought to be located in deep Tertiary channels were gold concentrations would be found deep at/or close to bedrock and at such depths that the glacial scouring would have missed by overriding such deep channels. A 4.98 km survey line along Rang Dix road identified 4 Tertiary channels. Churn drill holes were put down to the trough of the channels of which only one hole returned significant gold values. Churn drill hole 85-7 (GM42843) 400m west of the Ditton quarry intercepted a gold zone at 10.4m to 20.2m deep that returned 269 gold grains. Cache continued to focus on Mining Brook exploration and for reasons not know to the Company, did no follow-up work to the Rang Dix anomalies.
The potential size of the channel can be inferred by two studies commissioned by the Provincial government for the purpose of measuring surface sand and gravel deposits in Southern Quebec. According to the MERQ (Ministry of Natural Resources) the larger area (NE-SW) would be 1,800m long X 500m wide with an average depth of 5m. While that of UQAM University, the gravel deposits would be oriented more E-W and would measure 700m in length X 400m wide and an average depth of 5m. However, as implied by the Cache Exploration drill hole 87-7, the depth and the corresponding volumes of the channel would be significantly greater.
Potential for Lode Gold Discoveries
The gold particles from the Ditton sand quarry showed delicate angular shapes suggesting little transportation. A proximal source of the placer channel could be from the eroded Eastern flank of the valley wall. The bedrock lithology holds a contact point between volcanic and schists rock. Historical surveys indicated strong magnetic lineaments and fairly high magnetic geological formations favorable to hosting gold bearing quartz lenses.
The Bella Fault line is estimated to run along strike 1 km east of the placer channel where Cache Exploration in 1985 put down 3 diamond drill holes (DDH) along Rang Dix road to test a strong shear zone. The holes intersected andesites containing numerous quartz stringers mineralized with pyrite and containing much tourmaline. Of interest, in the drill log for DDH number S-2 states that visible gold was noted at 240 meters (GM42843). Cache did not complete the recommended follow-up drilling to test this anomaly.
Jean Bernard, B,Sc. Geo., is a qualified person as defined by NI 43-101 who has reviewed and approved the technical information presented in this release.
Non-brokered private placement
The Company is increasing the size of its previously announced May 20, 2022 non-brokered private placement of 5 million units to up to 6 million units for gross proceeds of up to approximately $360,000.00. All other terms thereof are not modified.
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 objective is the trace old placer gold workings back to a bedrock source to uncover economic lode gold deposits. 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 1860s to the 1960s It produced some of the largest gold nuggets in Canadian mining history (50oz to 71oz). (Source Sedar: 43-101 Report - Beauce July 4th 2018, , Author B. Violette)
Beauce Gold Fields website: www.beaucegold.com
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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/126299