Beaufield Resources, has entered into an agreement with Kidd Creek Mines, an affiliate of Falconbridge Inc., giving the company the right to earn a 49% interest in Kidd Creek’s Lac Barry area properties.
Comprised of four claim groups, the properties are located 60 km southeast of Demaraisville, Que. Beaufield can earn its interest by spending a total of $2 million on the properties over a 3-year period. By Feb 28, 1987, the company must spend $250,000.
Funds for the work will come from IMEX 1986 Partnership and Co., which will take down Beaufield stock at $1.18 per share on a flow- through basis. Gross proceeds to the company will be $1,050,000.
Previous workers, which included Kidd Creek Mines, identified seven anomalous gold showings on the properties, four of which are on the Lac Rouleau claim block. This property covers a carbonate zone which yielded average assays of less that 0.96 g gold per tonne in chip samples completed by Kidd Creek in 1982.
Another showing on the property consists of narrow quartz veins. Chip sampling of the veins returned a high value of 16.8 g gold per tonne across 1.6 m. A grab sample assayed a high value of 103.2 g gold per tonne.
In Douay Twp., near Joutel, Que., Beaufield has started a drilling program on its 111-claim property. The 7,000-ft program will be testing the eastern section of the claim group. To the west, reverse circulation drilling outlined several anomalous zones; the strongest of which yielded a gold value of 6,435 parts per billion in overburden.
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