OTTAWA, ONTARIO--(Marketwire - April 6, 2011) - Beaufield Resources Inc. (TSX VENTURE:BFD) is pleased to provide the following update:
Tortigny property, James Bay, Quebec – 100% owned
A 10,000 metre drill program was commenced in November 2010 on the Tortigny property located on it's 100% owned Troilus property, 100 kilometres north of Chibougamau, Québec. Drilling is ongoing and assay results for the first four holes were released in February 2011 (See Beaufield news release dated February 4th, 2011). Complete assay results have been received for four other holes which Beaufield expects to release within two weeks. Core samples from the next 17 holes are in the assay lab and awaiting results.
An induced polarization (I.P.) survey was completed over other prospective airborne MEGATEM electromagnetic anomalies in the vicinity of Tortigny and has revealed excellent anomalies which will be drill tested within the next month. Beaufield considers the Tortigny area to have a high potential for locating additional important base metal and silver deposits.
In Tortigny, 10 additional claims were staked by map designation over prospective MegaTEM anomalies. The Tortingy property now total 875 claim units or 316.2 square Kms.
Schefferville, Quebec – 100% owned
Beaufield has added 363 additional claims to its land holdings in the central part of the Schefferville mining camp. Beaufield's prospective Iron property which is located between Labrador Iron Mines (LIM-T), Tata Steel Minerals Canada Ltd., New Millenium Capital (NML-V) and Champion Minerals (CHM-T) now totals 883 claims or 431.9 square kms.
Interpretation of an Airborne Gravity Gradiometer survey has delineated over 15 distinct Direct Shipping Ore ("DSO") targets on the property and several prospective Taconite (magnetite ore) targets. A follow-up ground gravity survey is currently being planned which will be followed-up by an extensive field exploration program this summer.
Urban, Quebec – 100%owned
At the 100% owned Urban property, earn-in partner Amseco Exploration Ltd. (AEL-V) has announced on April 5th the completion of the first three diamond drill holes of a 2,400 metres drill program on the Zone 18 area. All three drill holes are reported to have intersected the Lac Rouleau Fault and Zone 18, which is known to host gold mineralization. The core samples are to be sent to the laboratory for assaying. Please refer to the Amseco news release for further details.
Casa Berardi, Quebec – 100% owned
Beaufield has also staked an additional 40 claims at its 100% owned Casa Berardi property in northwestern Quebec. This property adjoins the Aurizon gold deposit property. Beaufield has signed an agreement whereby Actus Minerals (AAC.V) can earn a 50% interest (See Beaufield press release dated March 1, 2011). The new claims will form part of the "earn-in" conditions.
Hemlo, Campfire, Ontario – 100% owned
In Hemlo, 16 claims totalling 235 units have been staked in the Lecours Township. The new claim block, named Campfire, is adjacent to Barrick land currently being explored by newcomer Entourage Metals (EMT-V).
This Press Release was reviewed by Jens E. Hansen, P.Eng, President of Beaufield Resources Inc., the Qualified Persons under Section 43-101.
Beaufield has approximately $8.5 million in working capital, no debt and a promising portfolio of gold and base metal properties all located in the provinces of Quebec and Ontario.
FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. Forward looking statements in this press release may be identified by the words "estimate", "believe", "anticipate", "intend", "expect", "plan", "may", "should", "will", and the negative thereof or other variations thereon or comparable terminology. Actual results could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: results and timing of exploration activities, general market and industry conditions and other risks disclosed in the Company's filings with Canadian Securities Regulators.
Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law. Depending on exploration results and available financing, the Company or its partner may at any point modify the suggested work program indicated in this release.
Neither 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.