Exploring for the Bedrock Source of the Beauce’s Famous Placer Gold Deposits

Drilling to Find The Hard-Rock Source of Historic Placer Gold

Sponsored
Beauce Gold Fields Profile

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BGF:TSX.V

Why Beauce Gold Fields?

  • Observed two (2) visible gold grains in drill hole SM-21-08 in a stockwork found below the former St-Gustave placer gold mine
  • 20 hole 4,000m drill program testing a series of high-priority targets that may be source rock for historic placer gold rush

The St-Simon-les-Mines Gold project hosts one of the largest un-mined gold bearing Paleoplacer deposits in Eastern North America

  • Site of the 1st Canadian Gold Rush, and discoveries of the largest nuggets ever found in Canada, 52 and 45 ounces
  • 152 wholly-owned claims that host a 6km unconsolidated gold-bearing sedimentary unit.
  • Acquired a portfolio of prospective placer to hard rock gold anomalies throughout southern Quebec.
    • The Beauce, the Megantic and Quebec's Eastern Townships are considered suitable for the discovery of gold deposits near or under former gold placers.
  • 1 million ounces of placer gold mined from an area Beauce completely controls
  • The bedrock is severely under explored.
    • Only 12 diamond drill holes conducted, not one them over areas of historical gold mining activity
    • Beauce believes the hard rock source of this system could lead to new gold discoveries as they trace the source rock responsible for Canada’s first gold rush.
  • Successfully trenched rocky outcrops up hill the St-Gustave section of the historical placer gold channel that was mined in the 20th century.
    • The trenches also follow along strike the major fault line identified by geophysics
  • Purchased previously unknown exploration data complied by last operator
  • Received an important collection of never-before-published historical exploration data, including 120 physical gold samples on Megantic Property
    • Megantic: 30km Property & Broken into 4 Gold Districts
  • Beauce has a Paleoplacer Resource Model of total gold ounces of 61,000 ounces to 366,000 ounces of Placer gold
  • 2019 IP survey reveals anticline folds indicative of a saddle reef formation on the company's Beauce Gold property located in St-Simon les Mine, Quebec.

2021 Sampling Program

  • Samples Megantic Property, Finds Gold in 2 Sand Pits

Chesham Sector

29 sand and gravel samples of glaciofluvial material were collected from a sand pit quarry, which was active in the 1980s. BGF returned to this area to further explore around the site were a fine sand sample taken in 2020 returned more than 10 g / t Au (BGF press releases of April 23, 2021)

The sand & gravel deposit covers an area of ​​more than 6 hectares. It is located approximately 100m west of Chesham Creek and to the south of Mont-Mégantic.

Sampling was undertaken using a medium-sized excavator (approximately 30 to nnes). The thickness of the deposit varies between 1m to more than 8 meters deep. The maximum extension of the excavator's boom could not exceed 7m in depth therefore in some places, it could measure more than 8m. The sedimentary sequence of the entire deposit consists mainly of medium to fine sand from the top down to gravel at its base. The 2021 excavations at times reached, after having crossed the layers of sand-gravel, beds of clay, bedrock or a water table that would fill the trenches. In October 2021, a stratigraphic cut of approximately 2.0m in height was sampled down an escarpment of the quarry. It intersected the section where the 10g/ton Au #798541 2020 sample was collected.

Ditton Sector - Newly Discovered Placer Channel & Lode Gold Potential

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The Placer Channel

 

The epicenter of the discovery is a cross section of the placer channel along Rang Dix road near the town of La Patrie in Ditton Township, Quebec. The channel is located 4 km east of the historical Mining Brook placer gold mine and 5 km west of the US New Hampshire border. It is also located 105 km south to the Company's Beauce Gold project in St-Simon-Les-Mine.

 

The insight that lead to the discovery was brought by a compiled analysis of the Company's exploration of the Ditton quarry (BGF press release January 20, 2022), prospector Pierre Paquette's gold sample data (BGF press release February 23, 2022) and from the study of 1980's historical exploration reports (GM42843).

 

Prospector Pierre Paquette first discovered gold in an operating sand quarry in Ditton Township. BGF follows this lead with a sampling program that recovered gold from every sample taken throughout the quarry. A study of the regional geology revealed that the quarry was an excavated pit of an Eastern lip of an exposed layer of a Tertiary placer channel.

 

In 1985, Cache Explorations undertook 36 km of geophysics throughout the Ditton & Chesham counties to study the placer gold occurrence surrounding the Mining Brook 19th century placer mines. The purpose of the seismic program was to define depths to bedrock and thickness of the glacial drifts, Quaternary overburden cover in order to interpret the substructure bedrock topography. The gold deposits were thought to be located in deep Tertiary channels were gold concentrations would be found deep at/or close to bedrock and at such depths that the glacial scouring would have missed by overriding such deep channels. A 4.98 km survey line along Rang Dix road identified 4 Tertiary channels. Churn drill holes were put down to thetrough of the channelsof which only one hole returned significant gold values. Churn drill hole 85-7 (GM42843) 400m west of the Ditton quarry intercepted a gold zone at 10.4m to 20.2m deep that returned 269 gold grains. Cache continued to focus on Mining Brook exploration and for reasons not know to the Company, did no follow-up work to the Rang Dix anomalies.

 

The potential size of the channel can be inferred by two studies commissioned by the Provincial government for the purpose of measuring surface sand and gravel deposits in Southern Quebec. According to the MERQ (Ministry of Natural Resources) the larger area (NE-SW) would be 1,800m long X 500m wide with an average depth of 5m. While that of UQAM University, the gravel deposits would be oriented more E-W and would measure 700m in length X 400m wide and an average depth of 5m. However, as implied by the Cache Exploration drill hole 87-7, the depth and the corresponding volumes of the channel would be significantly greater.

 

The Company will move forward with an exploration program to explore the placer channel for the real potential of discovering a large placer gold deposit.

 

Potential for Lode Gold Discoveries

 

The gold particles from the Ditton sand quarry showed delicate angular shapes suggesting little transportation. A proximal source of the placer channel could be from the eroded Eastern flank of the valley wall. The bedrock lithology holds a contact point between volcanic and schists rock. Historical surveys indicated strong magnetic lineaments and fairly high magnetic geological formations favorable to hosting gold bearing quartz lenses.

 

The Bella Fault line is estimated to run along strike 1 km east of the placer channel where Cache Exploration in 1985 put down 3 diamond drill holes (DDH) along Rang Dix road to test a strong shear zone. The holes intersected andesites containing numerous quartz stringers mineralized with pyrite and containing much tourmaline. Of interest, in the drill log for DDH number S-2 states that visible gold was noted at 240 meters (GM42843). Cache did not complete the recommended follow-up drilling to test this anomaly.

 

10 samples taken from an operating gravel pit located near the town of La Patrie in Ditton township. The part of the quarry occupies approximately an area of ​​0.5 hectares. A series of 10 sand and gravel samples were taken along the walls and under the floor of the gravel pit. Vertical thicknesses of the sand & gravel deposit varied from 2m to more than 13m.

 

Sample SB16, which was taken at random from the gravel by BGF, showed the presence of a very coarse gold grain that measured more than 4mm.

Beauce Gold’s Company Highlights:

 

  • Operating in an underexplored area in southern Quebec.
  • Utilizing a placer to hard rock exploration model to find the source of historic placer gold in the region.  
  • Peers also pursuing placer to hard to hard rock exploration/investment include:
    • Osisko Royalties ( OS.t )
    • Klondike Gold ( KG.v )
    • Agnico Eagle ( AEM.t )
  • The property hosts a six-kilometer-long unconsolidated gold-bearing sedimentary unit. (Historical Placer Gold Deposit), Beauce Gold Fields project is the first to complete a geological mapping of the historical placer gold district
  • Identified a fault on the property, extends over 6km and is in alignment with old placer gold mine.
    • 13 trenches excavated and three outcrops were stripped immediately north and south of the historical placer gold deposit.
    • Exploration program identified visible gold extracted from volcanic rock samples associated with the major geological fault.
    • The zone could be the host of an ancient hydrothermal gold system responsible for the concentration of gold in the rock

2021 Maiden Drill Program

SAINT-GUSTAVE AREA:

This sector was quickly identified as a priority target, based on previous geophysics, mapping, and trenching work. Notably, the 2020 work by Marc Richer Lafleche PhD Geo., of INRS who identified the presence of visible gold in the trenches TR-2020-01 (Bulk A), TR-2020-02 (Bulk B) and TR-2020-05 (Bulk C). These trenches are spaced more than 200m apart and oriented on an NNE-SSW axis (BGF press release May 12, 2021).

Nineteen (19) boreholes (SM-21-3-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-25-28-29) were positioned to intercept mineralized zones at depth. The zones extend at least 350m in length. The 300m-deep SM-21-03 was drilled to intersect a gold bearing zone (Busque Tr-2020-51 and Tr-2020-46) at a vertical depth of around 230m. The drilling also tested the zone of gold anomalies found in the trenches at approximately 45m vertical depth. Several short holes were drilled to obtain HQ dimension cores in areas favourable to visible gold mineralization as demonstrated in hole SM-21-08 (BGF press release August 8 2021).

All these 19 holes were drilled along the main mineralized structure (containing gold, arsenopyrite, pyrite, chalcopyrite, sphalerite) covering an area of 1000m in length and by 350m in width. This structure remains open laterally. Many holes have been spaced 30m between the trenches. Others were drilled below tunneling found on the property from the St-Gustave placer gold mine operated by Champs-D'Or Rigaud-Vaudreuil company in the 1910s.

Two step out drill holes (SM-21-26, Sm-21-27) intersected a stockwork zone beneath an outcropping northeast of Rang Saint-Gustave near the Gilbert River. Several blue quartz veins have been noted and sampled for gold.

POULIN AREA

The nine holes (SM-21-01,16 ,20, 21, 22, 23, 24, 34 and 35) were drilled under the Tr-10008 trench (BGF press release January 1, 2019) and the extensions of the anomalous gold zone. Drilling indicates that this zone is developing at depth and laterally and that it would be open on each side of the trench. The arsenopyrite, pyrhotite and chalcopyrite mineralization are more significant in certain holes.

Drilling from the St-Gustave and Poulin areas confirms that the mineralization at Saint-Simon-les-Mines is hosted within a ductile deformation zone which developed mainly in the axial planes of anticline folds. The heterogeneity of the rocks and the contrasting lithological competencies allowed the development of fractured zones which favoured the circulation of mineralizing fluids.

RANG 6 AREA:

Another region that has been investigated is located approximately 700m northeast of Rang Saint-Gustave. A series of four boreholes (SM-21-30 to SM-21-34) were oriented along an NNE-SSW axis which is approximately 450 meters long. The purpose of these holes was to test bedrock structures below the strong placer gold values obtained in the past in the gravels of a small tributary of the Gilbert River (Section G-80-A, 3.65g/m3 Au, 1987 GM46544).

HISTORICAL PLACER GOLD CHANNEL:

Six boreholes (SM-21-2, 4, 36, 37 and 38) were drilled to test structures below sections of the historical placer channel that was mined by a dredging operation in the 1960s. The drilling was also oriented to verify some of the highest gold grades recorded by historical overburden drilling (BGF press release January 21, 2021). Some holes have mineralized quartz veins which will be analyzed. Borehole SM-21-04 was designed to test an induced polarization anomaly.

Drill cores are currently being logged and selected split drill core samples sent to Actlab laboratory for analysis. Further updates will be provided as assay results become available.

The drill program is supervised by Jean Bernard, B,Sc. Geo and is a qualified person as defined by NI 43-101, that has reviewed and approved the technical information presented in this release.

 

2020 Exploration:

RANG DE LÉRY, GIROUX CREEK AREA

  • IP results, from lines crossing the Gilbert River, suggest the presence of a structural discontinuity interpreted as south-westerly extension of the major fault that strikes through the property
  • Notably, the historical placer gold channel and mining shafts that produced the largest gold nuggets in Canadian mining history (50oz to 71oz) follow the trend of the structure.

2D inversion model of the electrical resistivity and electrical chargeability (induced polarisation) data of Line 2 intersecting the Gilbert river in the sector of the confluence with the Giroux creek. The strong IP anomalies coincide with folded rocks near the river

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The presumed sulphide mineralisation may be associated with the presence of gold mineralization in the bedrock similar to the visible gold extracted from quartz-rich volcaniclastic rocks associated with the exposed fault line at the Poulin trench located 1.5 km east of Giroux Creek

  • IP data will allow the Company to identify potentially mineralized bedrock buried under glacial till overburden that can be excavated for channel sampling and / or provide target data for subsequent diamond drill programs.

Peers

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Beauce Gold Fields Project

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general The Beauce district is located in southern Quebec and experienced a gold rush in the late 1800s that subsequently died off. Beauce Gold is applying a placer to hard rock exploration model to find the source of the placer gold in the Beauce district.

In 1985 that the Provincial government took back mineral rights from property owners and made the region of southern Québec open to exploration to mining companies and Beauce Gold Fields is the first company to completely cover the historical placer gold deposit and to hold an area of significant claims to search for a hard rock source. They have no peers in the area.

  • The company has also:
    • Received support from the local community
    • secured written agreements from the surrounding landholders to conduct gold exploration on their properties.
    • can start full scale mining anytime, upon submission of a complete Feasibility Study and an approved Closure Plan, as per the New Mining Act of Quebec
    • To ensure continued property access, the company purchased the real estate of the former Beauce Placer Gold company that operated a gold dredging operation in the 1960s.

Exploration Timeline:

The 176-acre Beauce Gold Fields project is comprised of 152 wholly-owned claims that host a six-kilometer-long unconsolidated gold-bearing sedimentary unit. The property also hosts numerous historical gold mines that were active between the 1860s and the 1960s.

The Beauce Gold Fields project is located near Saint-Simon-les-Mines in the Beauce region in southern Quebec. The property is an hour’s drive south of Quebec City and 15 kilometers north of St-George de Beauce. The project is accessible year-round by paved and gravel roads.

Beauce Gold Fields was formed following a spin-out from parent company HPQ Silicon, formerly known as Uragold. In 2013, Uragold was evaluating the size of the historical placer gold deposit and discovered that this was not a pre-glacial alluvial deposit but rather an auriferous till and saprolite.

·         The delicate nature of the gold grains drilled up from the auriferous till as well as quartz markings suggest a close proximity source of gold.

May 2017, Beauce Gold completed a Geophysical Study on the Property and Identified a Significant Fault Beneath the Beauce Placer Company’s Former Placer Gold Mining Operation.

  • The fault could be a possible explanation as to the source of the placer gold in the region. The discovery was followed up with a geophysics program to delineate the boundaries of the fault:
    • The program consisted of two audio-magnetotelluric surveys,
    • two electrical resistivity tomography (ERT) surveys and
    • multiple gravimetric surveys.

April 2019, Beauce Gold completed a Large-Scale Gravimetric Survey over the Fault.

·         The results show that the fault is in alignment with old placer gold mines.

August 2019, Beauce Gold Announced the Results of its Geoelectric Survey at its Property.

  • The survey indicates the presence of a structural discontinuity that is associated with the major fault outlined in 2017 and 2018.
  • This structure has been located beneath former placer gold production shafts and near the discovery sites of the largest gold nuggets in the Gilbert Rover valley.
  • Excavating, as part of a trenching program, cut into a faulted geological structure on the St.-Simon-les-Mines property, confirming the presence of a significant geological fault that was identified in 2017 and 2018.
  • The faulted contact corresponds to a 35-centimeter-thick zone of non-cohesive materials rich in quartz fragments.
    • The volcaniclastic rocks, present south of the fault, are highly fractured. This structure could correspond to the fault detected by the AMT survey of 2017 and dips to the south.
    • On the edge of the fault, the volcanoclasites are extremely altered by the injection of veins of quartz-iron carbonates associated with a variable proportion of sulfides.
    • The zone of quartz-carbonate veins has a thickness of 2.5 meters to three meters.

October 2019, Beauce Gold completed 30-Square-Kilometer Sampling and Geological Mapping Program.

·         More than 250 rock samples were taken for analysis.

·         Geological mapping centred on the St-Simon-les-Mines historical placer gold district.

·         First large systematic sampling of rock outcrops

·         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.

March 03rd Comparative Analysis Indicates Eroded Fault Line as Source of Historical Placer Gold Channel

  • Analysis of both gold particles and of bedrock geochemistry samples taken from the exposed geological fault line at Poulin trench 10008 link the proposed fault line to the historical placer gold channel found on Beauce Gold Fields Inc.'s St-Simon-Les-Mines property.
  • Four of the trenches showed the presence of volcaniclastic bedrock extremely altered by the injection of rusty quartz veins and were therefore channelled and bulk sampled
  • The veined area is 2.5 to three metres thick and has been observed in trenches 10008, 10009 and 10016.
  • Geochemistry analysis show a strong correlation of pathfinder elements: arsenic, tungsten and
  • antimony.
  • analyses indicate similar silver content in bedrock gold particles to the placer channel gold nuggets.

Recent Staking Additions

The Megantic Property

The Mégantic property is limited to the southwest by the American border of New Hampshire and to the northeast by Lac Mégantic. The property extends for at least 30 km along the axis of the Bella Fault. It is divided into four areas: the Ditton, the Mining Brook, the Chesham and Bergeron rivers.

The Mégantic property is located at the foot of the granite intrusion of Mont Mégantic. It partly occupies the Compton Formation composed of graphitic and pelitic metasedimentary rocks of Siluro-Devonian age. These sedimentary rocks are in discordant contact in the center of the terrain with the volcanic facies (basalts, andesites and dacites) of the Siluro-Devonian Formation of the Frontenac Formation. The Bella fault, which is the major structural element of the Mégantic property, is in contact between the Compton and Frontenac Formations. Observations at Mount Saddle suggest several intrusive phases that would be favourable to the establishment of gold mineralization.

Mining Brook:

What attracted Beauce Gold Fields attention to this region are the past occurrences and mining of alluvial gold in some streams and small rivers, including the Mining Brook located some five km north of Chartierville. It has been reported in the past Goodwin (1933) that over 25,000 ounces of gold was mined from just a small stretch of Mining Brook.

Chesham river area:

GM 48717: Surface gravel in the Chesham River area is reported to contain flake gold. The deeper gravels contain quite a few nuggets which sometimes reach several grams. Gold grains were recently found in a gravel pit on the Mégantic property. The gold reveals very accentuated roughness indicating that it has traveled little. It is assumed that the source of the alluvial gold would be in the volcanic rocks of the Frontenac Formation.

Bergeron river area:

GM 45387: A large quantity of "delicate" fine gold was noted in old excavations along the Bergeron river, thus suggesting a not far distant primary source. The bedrock of the Bergeron river is made up of the components of the Frontenac Formation, that is to say slate schists, bands of basic metavolcanites and gabbro-dioritic sills. These gabbro intrusions may contain veins of quartz mineralized in gold comparable to Timmins-Bellechasse Deposit.
GM 53498: Work carried out by Noranda Mines and Exploration between 1993-1995 established copper, zinc and silver soil anomalies which appear to be continuous over significant distances. One of these anomalies is over 1.8 km in length. It was recommended at the time to make trenches targeting sediment-volcanic contact (Bella fault).

HISTORICAL PALEOPLACER RESOURCE MODEL

The Beauce Paleoplacer Project Business Model for Placer Mining ( 2015 )

Key Assumptions: Gold US$1,250, (C$1,515), and 5% discount rate

·         US$630/oz all in cost

·         ≈ $8M Capex

·         ≈ 8-10 years Life of Mine

·         Accelerated timeline to production

·         Fully permitted

  • Hosts one of the largest un-mined gold bearing Paleoplacer in Eastern North America
  • Site of two of the largest recorded gold nuggets found in Canada
  • Under only 20 metres of younger sediments
  • Total gold potential ranges between 61,000 ounces to 366,000 ounces
  • Upon commencement of full-scale production:
    • Annual gold output should be between 8,000 oz. (base case) and 24,000 oz
    • Generate annual cash flow between $6.5 Million (base case) and $25 Million
  • Producing ≈ 40,000 oz per year within 4 years of commencing producti

Gold potential for the entire deposit could range between 61,000 ounces (2,200,000 m3 @ 0.87 g Au/m3) and 366,000 ounces** (2,200,000 m3 @ 5.22 g Au/m3) using the x6 multiplier

Mining Model Gold Potential estimated between:

·         Base Case: 62,000 oz (2,928,285 m3 @ 0.65 g Au / m3)

·         3X Nugget effect: 185,000 oz (2,928,285 m3 @ 1.96 g Au / m3)

·         6X Nugget effect: 370,000 oz (2,928,285 m3 @ 3.93 g Au / m3)

 

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Last changed at 03-Oct-2022 11:51AM by AGORACOM