November 14, 2024 – TheNewswire – Montreal, Quebec, Canada – Beauce Gold Fields (TSX Venture: BGF)also referred to as “BGF” or the “Company,” is pleased to announce the results of the analysis of a preconcentrated sample, recovered from a bulk sample of the fractured vein from the Grondin antiform outcrop, on the property gold mine of the Company, located in the Beauce region, in southern Quebec. The analysis returned 5.61 grams per tonne of gold.
Patrick Levasseur, President and CEO of Champs D’Or en Beauce, said: “In addition to coarse gold grains, this demonstrates that non-visible gold mineralization can play an important role in anticlinal structures (Saddle type Reef). This structure promises additional discoveries of gold veins. »
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Image: stockwork vein from the Grondin outcrop, grade of sample C0247469
A 500 gram sample was randomly taken from one of the 20 liter preconcentrate buckets. The preconcentrates were obtained from fragments less than 10 cm, recovered using a mobile placer washing installation equipped with a trommel and a washing ramp. The facility processed a 30-ton bulk sample of highly fractured stockwork comprising a vein of milky white quartz several meters wide, interspersed with pockets of sulfide-rich material along the shear planes of the lapillary tuff blocks (press release press release BGF 2023-08-22) taken from the Grondin antiform outcrop.
The preconcentrates sent for analysis did not contain any visible grains of gold. However, more of 18 visible and very angular gold grains were extracted from a final concentrate from the preconcentrates (press release BGF 2024-03-20). SEM analysis on several of these gold grains indicated that they contained on average 85.05% gold (Au) and 14.74% silver (Ag), with gold grain fineness (calculated as 1000 × Au / (Au + Ag)) varying between 820 and 870 (BGF press release 2024-06-13).
The Grondin outcrop is located above drillhole GR 23-01, which the company drilled in 2023 (BGF press releases, November 1, 2023 and January 18, 2024). The drill hole traversed the full length of the mineralized zone over 36 meters, intersecting three gold zones between 11 and 24 meters. All areas are associated with stockworks containing variable levels of sulphides. The mineralized zones are heavily affected by significant deformation, which has resulted in significant core loss, particularly towards the end of the drilling process. One of the intersected areas showed a notable grade of 5.4 g/t gold over 2.2 meters.
Test YVO2411180
| the sample |
Pre weight Kg |
Masse CPA Ana. Poids g |
Au PPM |
| C0247469 |
0.49 |
391.8 |
5.613 |
The outcrop is within the Grondin gold zone, a mineralized structure that follows the crest of an anticlinal fold (Saddle Reef type) and extends eight kilometers down dip. Cumulative exploration data suggests that the Sadle Reef-type formations are likely the rock sources of the Company’s historic placer deposits.
Quality control/quality assurance (QC/QA) procedures for the reported preconcentrated sample include Certified Reference Materials from MSALABS of Val-d’Or, Quebec, Test Certificate YVO2411180. Standards and blanks were inserted into the sample sequence on site as part of quality control and quality assurance. MSALABS is an ISO-17025 accredited laboratory for the photon test method.
Jean Bernard, BSc, Geo, an independent qualified person as defined by National Instrument 43-101, has reviewed and approved the technical information presented in this release.
Private placement without the intermediary of a broker
The Company wishes to clarify that the following provisions replace the provisions relating to this private placement contained in the press release published for this same private placement on November 7, 2024. The prices of the Units are fixed by virtue of the closing price of the Company’s shares on November 13, 2024.
The Company will conduct a non-brokered private placement of 5,000,000 flow-through units at a price of $0.04 per unit for gross proceeds of $200,000 and 5,000,000 common units at price of $0.03 per unit for gross proceeds of $150,000.
Each flow-through unit will be composed of one (1) flow-through common share and one (1) common share subscription warrant of the Company. Each warrant will entitle its holder to purchase one common share of the Company’s capital stock at a price of $0.08 for a period of 24 months from the closing date of the offering. Each gold unitdinary will be composed of one common share and one common share subscription warrant of the Company, which will allow its holder to purchase one common share of the Company’s capital stock at a price of $0.05 for a period of period of 36 months from the date of closing of the placement.
The Offer is conditional upon receipt of all necessary regulatory approvals, including the approval of the Canadian TSX Venture Exchange. The proceeds of the offering will be specifically used to: (i) finance exploration and (ii) for general business purposes.
The offering will be made to accredited investors in accordance with applicable securities laws. In connection with the offer, the Company may pay finder’s fees, as permitted by the policies of the stock exchange. Each share issued in the offering will be subject to a mandatory hold period of four months and one day from the closing date of the offering. The Company anticipates that insiders may subscribe for units in the Offering and that their interest may exceed twenty-five percent (25%) of the Offering.
No more than 10% of the proceeds of the offering will be used for investor relations activities and no amount of the proceeds are intended for payment to related persons of the Company or to persons carrying out investor relations activities.
About Champs d’Or en Beauce Inc.
Champs d’Or en Beauce Inc. (¨BGF¨) is a gold exploration company focused on exploration in the Beauce region of southern Quebec. The company’s flagship property is the site of the St-Simon-les-Mines gold project, site of Canada’s first gold rush, before the Klondike rush in the Yukon. The Beauce region was home to some of the largest historic placer gold mines in eastern North America which were active from 1860 to the 1960s. It produced some of the largest gold nuggets in the world. Canadian mining history (50 oz to 71 oz) (Source Sedar: Beauce July 4th 2018, Rapport 43-101)
The objective of Champs d’Or en Beauce is to trace the old gold placer workings to the bedrock source in order to discover an economic gold deposit.
Beauce Gold Fields is currently exploring recently discovered antiform systems that may have contributed to the development of the vast gold placers of Beauce. The Company’s geological model suggests that the placer gold in the Beauce Gold paleochannel, including the famous large nuggets of the 19th century, formed in pockets of energized quartz within laminated domed antiform axes, exemplified by Saddle Reef formations. Notable global Saddle Reef formations include the Bendigo goldfields in Australia (over 60 million ounces) and the high-grade Dufferin deposit in Nova Scotia.
Disclaimer:
The TSX Venture Exchange and its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept no responsibility for the adequacy or accuracy of this release.
This press release contains certain forward-looking statements within the meaning of applicable securities laws. Forward-looking statements reflect the Company’s current expectations 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 with respect to the exploration of natural and gold resources. These statements reflect the Company’s current views 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 current filings with securities regulatory authorities. securities, which documents can be found at www.sedar.com. Actual results, future events and performance may differ materially from the expectations described. 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, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
CONTACT :
Patrick Levasseur, president and general manager: Tel. (514) 262-9239
www.beaucegold.com
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