Beauce Gold Fields Presents Results of a Geoelectric Survey Under the Former Gold Mines of Saint-Simon-les-Mines

- August 6th, 2019

Beauce Gold Fields (TSXV:BGF) is pleased to announce the results of a geoelectric tomography survey conducted in the western section of a Beauce Gold property in southern Quebec.

Beauce Gold Fields (Champs D’Or en Beauce) (BGF) (TSXV:BGF) is pleased to announce the results of a geoelectric tomography survey conducted in the western section of the Beauce Gold property in the town of St-Simon-Les-Mine located in the Beauce region in southern Quebec. The 2D inversion models of electrical resistivity and induced polarization (IP) indicate the presence of a structural discontinuity interpreted as the southwesterly extension of the major fault detected by the 2017 and 2018 geophysical surveys. This structure, which is locally associated with Induced Polarization (IP) anomalies, has been located beneath former (placer) gold production shafts and near the discovery sites of the largest gold nuggets in the Gilbert River valley. Induced polarization anomalies suggest the presence of disseminated sulphides in volcaniclastic rocks. These sulphides may be associated with the presence of gold mineralization in the bedrock.

Patrick Levasseur, President and CEO of Beauce Gold Fields, said, “The results of the geoelectrical tomography survey is another solid piece of evidence that narrows our exploration efforts to find the bedrock source of the gold-bearing placers of Saint-Simon-les-Mines.” Mr. Levasseur added: “Our rock outcrop sampling program is currently underway and is proceeding excedingly well.  We should be able to provide an updated shortly.“

Figure 1. 2D inversion model of induced polarization data (electrical chargeability) of line 2

The location of the two lines of the geoelectric tomography survey is shown on the Figure 2 map. The lines are located in a wooded area and crosses the Gilbert River before (line 2) and after the confluence with Giroux Creek (line 1) (Figure 2). The lines were established based on the gold potential of the area as evidenced by the large number of gold bearing shafts and the discovery sites of the largest historical gold nuggets in Canada.

Figure 2 – Location map of lines 1 and 2 of the geoelectric tomography survey

The geoelectric tomography survey demonstrates the presence of distinct lithological blocks located on both sides of the Gilbert River. North of the river, the rocks are systematically more resistive. This observation implies the presence of contact between units of sedimentary rocks in the south (St-Victor Formation), which shows relatively few induced polarization anomalies, and volcaniclastic dominant units (Beauceville Formation) in the north of the Gilbert River. The latter being characterized by strong anomalies of electrical chargeability. As observed in the field, volcaniclastic units are affected by brittle deformation frequently associated with the injection of quartz veins and carbonates. In contrast, these structures are infrequent in the shale-rich units of the St-Victor Formation.

The faulted contact between the St-Victor and Beauceville Formations is further indicated by the magnetic and gravity contrasts observed in this sector. These contrasts of physical properties of the rock units can not be explained by a simple synclinal structure. As a result, the presence of a fault is highly likely in the Gilbert River area. Note that Line 2 passes near old gold mining wells of the 19th and 20th century. Remnants of these are still visible in the area of ​​the anomaly located below the 600m station (Figure 1).

An exploration program that consists of prospecting, sampling, and channeling outcrops of the Beauceville Formation north of the Gilbert River is currently underway.

Two lines of the geoelectric tomography survey were part of a major geophysical and geological work carried out in 2017 and 2018 on various sections of the property between the Municipalities of St-Simon-les-Mines and St-Benjamin (press releases from HPQ May 11, 2017, and fo BGF April 30, 2019) which indicated the probable presence of a large fault that extends over 4.5 km and is in alignment with the former placer gold mines (report entitled “REPORT OF GRAVIMETRIC SURVEYS AND GEOELECTRIC TOMOGRAPHY OF 2018 “, written by Professor Marc Richer-LaFlèche of INRS)

Robert Gagnon, P. Geo., a qualified person as defined by NI 43-101, has reviewed and approved the technical information presented in this release.

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 flagship property is the St-Simon-les-Mines Gold project, a unique, historically significant gold property located in the municipality of Saint-Simon-les-Mines. Comprising of a block of 152 claims as well as 7 real estate lots, the project area hosts a six kilometre long unconsolidated gold-bearing sedimentary unit (a lower saprolite and an upper brown diamictite). Textural observations (angularity) of gold nuggets suggest a relatively proximal source and therefore a short transport distance. The gold in saprolite indicates a close proximity to a bedrock source of gold, providing possible further exploration discoveries.  The property was host to Canada’s first gold rush before the one in the Yukon Klondike.  It hosts some of the largest historical placer gold mines in Eastern North America that were active from 1860s to the 1960s (see HPQ SEDAR-filed July 4 2018 43-101 report).

Beauce Gold Fields website www.beaucegold.com

BGF Presentation: http://beaucegold.com/wp-content/uploads/2019/04/BGF-Presentation-20191.pdf 

Disclaimers:

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.

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