Beaufield drilling (March 05, 1990)

A $175,000 drilling program is under way on Beaufield Resources’ (TSE) Lac Rouleau gold property held jointly with 52.5% partner Falconbridge Ltd. in northern Quebec. The property is about 70 miles northeast of Val d’Or. The current drilling work, comprising about four holes, is testing the previously discovered 18-zone gold deposit at depths of around 1,500 ft. To date, more than $4 million has been spent by the partners on nearly 80,000 ft. of drilling.

Two previous deep holes tested the 18-zone at a vertical depth of 1,100 ft. One of those holes returned 0.80 oz. gold per ton across 10 ft. while another hole, 450 ft. to the east, cut 0.20 oz. over 19.7 ft.

Preliminary estimates indicate reserves of 600,000 tons at a grade of around 0.20 oz. are present on the property to a depth of 1,100 ft. Beaufield hopes to increase its stake in claims to 51% from the current 47.5%.