| Beaufield stakes Lithium claims at the Moblan Deposit near Tortigny | |
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April 26, 2016
Beaufield Resources Inc. has staked 76 additional claims totaling 4,142 hectares for potential lithium on its western boundary at Troilus, Quebec. Beaufield's current claims, which it has held for more than 10 years, surround the Moblan Lithium deposit (14.25 Million Tonnes of 1.41% LiO2) owned by Soquem Inc and Perilya Limited. Moblan is located 2.5 kilometres west of Beaufield's 100% owned Tortigny copper-zinc-silver-gold deposit and the property is intersected by the Route du Nord, which is the main road that leads to Nemaska Lithium Inc's Wabouchi project. A map indicating the additional claims staked is available below.
Previous geological work by Beaufield in the area identified several pegmatite dykes with lithium bearing minerals such as Spodumene and Lepidolite on Beaufield's claims. Beaufield's focus at that time was for base metals, and the lithium bearing structures were not followed up. With significant recent activity in the nearby Wabouchi area and the potential of Moblan, a detailed examination of Beaufield's holdings is warranted. A field program will be undertaken in June to assess the lithium occurrences on the property.
In addition to the lithium occurrences that are located on Beaufield's property, several of Moblan's lithium occurrences are located within 50 metres of Beaufield's boundary as indicated on the adjoining map.
Jens Hansen President and CEO of Beaufield, stated: 'We are pleased to take advantage of this new opportunity, which is easily accessible given the area's excellent infrastructure. Beaufield's main focus however remains Urban where drilling is scheduled for May. A summer work program on the Eleonore property, which adjoins Goldcorp's new mine, is under consideration. We are closely monitoring the recent exploration success that Sirios Resources Inc. has had on its nearby Cheechoo property.'
Qualified Person
This news release has been prepared by Mathieu Stephens, P.Geo., Vice President of Exploration and Corporate Development for Beaufield the Qualified Person, as defined by National Instrument 43-101.
About Beaufield:
Beaufield is a mineral exploration company with its exploration activity focused in Quebec. Beaufield is well positioned to advance its portfolio of exploration properties and identify other potential opportunities in the mineral exploration or development stage. The Corporation is actively exploring, well financed with approximately $3 million in cash, has no debt and has excess work credits on its properties.
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PRODUCER |
CODE : BFD.V |
ISIN : CA0743271078 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Beaufield Res. is a nickel and palladium producing company based in . Beaufield Res. produces nickel, palladium, gold in Canada, and holds various exploration projects in Canada. Its main asset in production is HIAWATHA GOLD MINE in Canada and its main exploration properties are CASA BERARDI QUEBEC, MAINSTREET, TROILUS / TORTIGNY, OPINACA, NORTHERN EAGLE GOLD, OPI-WEST, RAGLAN UNGAVA, LAB, TORTIGNY, LAC ROULEAU, HEMLO, LAC EVANS/STORM LAKE and MAINSTREET (LOUVICOURT TWP) in Canada. Beaufield Res. is listed in Canada and in United States of America. Its market capitalisation is CA$ 26.1 millions as of today (US$ 20.0 millions, € 17.4 millions). Its stock quote reached its highest recent level on May 12, 2006 at CA$ 1.27, and its lowest recent point on February 05, 2016 at CA$ 0.03. Beaufield Res. has 180 280 000 shares outstanding. |