Shares in Ottawa-based Beaufield Consolidated Resources (BFD-V) shot up 2.5, or nearly 14%, to 21 in early trading in Vancouver on May 6, after the company released impressive initial drill results from its Rouleau gold property, 120km east of Lebel-sur-Quvillon in northwestern Quebec.
Hole 401 returned 3.7 metres (from 24.8 metres below surface) running 11.6 grams gold, including 13.4 grams over 1.2 m.
Nearby, hole 402 yielded 4.05 metres (from 15.95 m) averaging 7.65 grams gold, 1.7 metres of 11.7 grams.
Beaufield estimates that the zone’s true width is around 70% of the reported core lengths.
The holes, angled at minus 45, are part of a 10-hole 870-metre core-drilling program designed to test the continuity of a gold-bearing silicified breccia zone first discovered by Beaufield and Falconbridge (FL-T) in the 1980’s.
Beaufield expects to release assay results from the remaining eight holes by early June. The company also plans to review all previous drill logs in light of the latest drilling and geological information available at Rouleau.
Beaufield owns 100% of the property, which is home to an historic resource totalling 544,000 tonnes grading 7.2 grams gold per tonne (not 43-101-compliant). The resource occurs on a band of felsic volcanics known as the Rouleau Member within the mafic Macho Formation. The Rouleau Member, which comprises calco-akaline felsic volcanics and tuffs, has been traced for up to 12 km (6 km on the Beaufield properties).
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