- Beauce Gold Fields (BGF) believes it has outlined a saddle reef formation on the company’s Beauce Gold Property
- The property is located in St-Simon les Mine, Quebec
- The company reviewed filtered geophysics data from a 2019 IP survey, which revealed anticline folds indicative of the saddle reef formation
- It intends to trace the project’s placer gold workings back to the bedrock source and uncover economic bedrock gold mineralization
- Beauce Gold Fields is up 5.88 percent, trading at $0.09 at 10:47 a.m. ET
Beauce Gold Fields (BGF) believes it has outlined a saddle reef formation on the company’s Beauce Gold Property.
The property is made up of 152 contiguous claims and seven real estate lots in St-Simon les Mine, Quebec.
The property contains a six-kilometre-long placer gold channel consisting of unconsolidated gold-bearing auriferous units of a lower saprolite and an upper brown diamictite.
The Quebec-based company made the discovery after reviewing filtered geophysics data from a 2019 IP survey, which revealed anticline folds indicative of the saddle reef formation on the property.
“This IP is another exciting data set supporting a Saddle Reef Formation as a leading geological model as the source of the historical placer gold nuggets. We look forward to further explore and sample Antiform outcrops for new drill hole targets to test the Saddle Reef Formation for lode gold discoveries,” said Beauce Gold Fields President and CEO Patrick Levasseur.
The company carried out three 1,200-metre lines of electrical resistivity and induced polarization (IP) surveys in the winter of 2019.
The geological model of a Saddle Reef formation indicated by the IP survey is also supported by observed eroded anticline vertical limbs in the 2019-2020 trenches and by the discovery of exposed domed Axis of Antiform ridges along the Giroux creek.
The company’s flagship property is located on the site of Canada’s first gold rush that pre-dates the Yukon Klondike. The region hosted some of the largest historical placer gold mines in Eastern North America that were active from 1860s to the 1960s. It produced some of the largest gold nuggets in Canadian mining history. The company intends to trace the placer gold workings back to the bedrock source and uncover economic bedrock gold mineralization.
Beauce Gold Fields is up 5.88 percent, trading at $0.09 at 10:47 a.m. ET.