Beaufor results encourage Louvem

The Beaufor gold deposit in Pascalis Twp., Que., is showing promising results as development advances.

Partners Louvem Mines (TSE) and Aurizon Mines (ME) report that development work in June produced 8,132 tons of ore with a recovered grade of 0.33 oz. gold per ton. Monthly grade figures have consistently exceeded the 0.24 oz. per ton projected before the start of development.

Reserves are calculated at about 1 million tons, but Louvem believes they could be increased substantially if the continuity of several other vein systems can be established by later development work. Two of these, labelled the E and F zones, have a possible strike length of 1,000 ft.

Four vein systems are being developed.

Louvem expects commercial production to start by the last quarter of this year, at a projected rate of 440 tons per day. This is slightly less than double the rate of production during development.

The project has generated $3 million in revenue, which is being applied against development costs of $1.93 million, as well as exploration costs.