Business
Drill Data Indicates the Auriferous Saprolite Unit of the Beauce Gold Paleoplacer Channel Is Thicker and Broader than Estimated
Montreal, Quebec--(Newsfile Corp. - January 17, 2023) - Beauce Gold Fields  (TSXV: BGF)&#x...
About this update from Beauce Gold Fields, Inc.
[{"type":"text","content":"Drill Data Indicates the Auriferous Saprolite Unit of the Beauce Gold Paleoplacer Channel Is Thicker and Broader than EstimatedMontreal, Quebec--(Newsfile Corp. - January 17, 2023) - Beauce Gold Fields (TSXV: BGF) (Champs D'Or en Beauce), (\"BGF\" or the \"Company\") is pleased to announce it has completed an analysis of drill hole data comparing all historical overburden placer channel drill holes, overlaid with the Company's 2021 diamond drill program. The study revealed that the auriferous saprolite unit of the paleoplacer channel on the Beauce Gold property located in St-Simon les Mine, Quebec, is thicker and broader than previously estimated.Patrick Levasseur, President and CEO of Beauce Gold Fields, said, \"We are excited to have made this new revelation on Canada's oldest pacer gold deposit.\" Mr. Levasseur further stated, \"This could mean the historical gold estimates of the placer channel is underestimated.\"The drill holes data for analysis was sourced from the Company's 38-hole 2021 diamond drill (DDH) program that drilled the bedrock below the paleoplacer channel, totaling 4,585 meters (see BGF press release February 7, 2022). Data also included 272 historical overburden drill holes from Beauce Placer Mining Company 1959 churn drill program (Missing Drill Logs Acquired, BGF press release January 21, 2021), churn drilling Coniagas Mines 1985, sonic drilling Geological Survey of Canada (GSC 1985), reverse circulation (RC) drilling Macamic Exploration 1987 and Uragold's 2011 sonic drill program.The Company cautions investors to note historical drill results, grades and historical gold estimates of the placer channel are conceptual in nature. A qualified person has not completed sufficient work to validate historical data nor to classify mineral resources as defined by National Instrument (NI) 43-101; it is uncertain if future exploration will result in the target being delineated as mineral resources.Gold in SaproliteBeneath the Quaternary glacial till layering, the Beauce paleoplacer channel contains two Tertiary auriferous units: a brownish diamictite basal till and an underlying saprolite bedrock or fractured shales. Before ice age glaciations, the region had undergone a long period of tropical, humid conditions, causing deep weathering of bedrock forming saprolite profiles. A transitional zone of fracture...