Beaufield Resources (BFD-V) Tortigny at 845,000 t of 9.1% ZnEq M+I
$4.5 million in the kitty
Nov 28, 2012 - News Release
Beaufield Resources Inc. has received the resource estimate for the Tortigny deposit. SGS Canada Inc. has estimated that the Tortigny deposit contains:
Measured resources of 726,000 tonnes grading 2.11 per cent copper, 4.28 per cent zinc, 57.59 grams per tonne silver and 0.41 gram per tonne gold;
Indicated resources of 119,000 tonnes grading 1.36 per cent copper, 4.34 per cent zinc, 41.2 grams per tonne silver and 0.27 gram per tonne gold;
Total measured and indicated resources of 845,000 tonnes grading 2.01 per cent copper, 4.29 per cent zinc, 55.29 grams per tonne silver and 0.39 gram per tonne gold, all compliant with National Instrument 43-101.
The resource was separated into in-pit resources and underground resources. The in-pit resources were confined to an optimized pit shell using a net-smelter-return cut-off grade of $38.50 per tonne, and the underground resources were estimated based on a net-smelter-return cut-off grade of $85 per tonne. See the attached table for the breakdown of in-pit and underground resources.
The Tortigny deposit is 100 per cent owned by Beaufield. It is situated approximately 150 kilometres north of Chibougamau, Que., and approximately 42 kilometres from the past-producing Troilus mine. The property is located next to an all-weather, year-round-maintained gravel highway and only 27 kilometres from an electrical power line capable of providing sufficient power for a large mining operation.
The Tortigny drilling database used to estimate the resource contains 123 diamond drill holes totalling 31,942 metres of drilling completed by Noranda Mines and Exploration Inc. from 1995 to 2005 (52 holes), and by Beaufield Resources from 2008 to 2011 (71 holes). The sectional spacing covering the deposit averages approximately 25 metres. In 2010 and 2011, 64 holes were drilled into the Tortigny deposit for a total of 16,819 metres. The best intercept was hole TO-11-42 with 6.87 per cent copper, 14.9 per cent zinc, 159.28 grams per tonne silver and 0.84 gram per tonne gold over 23 metres.
The Tortigny polymetallic mineralized lens consists of a deformed, high-grade, copper-zinc-silver-gold massive sulphide orebody hosted by metasedimentary rocks (argillite and siltstone) intercalated between two geochemically distinct mafic volcanic (basalt) units.
The geological setting of Beaufield's Troilus property and the presence of high-grade volcanogenic massive sulphide (VMS) deposits like Tortigny make it an excellent location for further exploration. Four different cycles of volcanic rocks, constituted of basalt, andesite, pyroclastics and felsic tuff, in contact with sedimentary sequences, are present on the Troilus property, creating a fertile environment for the discovery of polymetallic and gold mineralization.
In May, 2012, Beaufield contracted Fugro Airborne Surveys to fly a 550-line-kilometre HeliTEM (helicopter-borne time-domain electromagnetic) survey in the area surrounding the Tortigny deposit and several electromagnetic anomalies were identified. These anomalies will be investigated by Beaufield's geological team as it is believed that these anomalies may be associated with the Tortigny deposit given their relative close proximity to the deposit.
The Tortigny deposit and the past-producing Troilus mine (49 million tonnes at 1.38 grams per tonne gold, 1.23 grams per tonne silver and 0.12 per cent copper) are indicative of the area's high potential. VMS mining districts usually contain a cluster of VMS deposits (for example, the Noranda camp). Various VMS deposits and historical showings have been discovered within a radius of 30 kilometres around Tortigny. The De Maures deposit with historical inferred resources (which are not NI 43-101 compliant) of 350,000 tonnes at 7.84 per cent zinc, 1.35 per cent copper and 22.31 grams per tonne silver (Geologie Quebec, PRO 99-02), the Lessard deposit with 740,000 tonnes of inferred resources at 3.5 per cent zinc, 1.88 per cent copper, 38.62 grams per tonne silver and 0.84 gram per tonne gold (2008, NI 43-101 compliant) are examples of other deposits in the area.
SGS performed a thorough review of the drill hole data and assay data as part of its estimation of the Tortigny resource. This included reviewing all quality assurance and quality control work performed both in the field and in the assay lab. During the course of its work, it was noted that there was a slight bias in the assays of copper and silver as reported by Beaufield in the press release dated July 31, 2012. As a result of the review, all assayed copper grades were reduced by 3 per cent of their assayed values and silver assays were reduced by 3.5 per cent of their assayed values.
The mineral resources were modelled and estimated using SGS-proprietary SectCad software. The geological model was interpreted on 12.5-metre north-south vertical sections, then on 10-metre horizontal sections in order to generate a mineralized solid mesh. Assay intervals within the mineralized envelope were composited according to one-metre intervals before they were used in the interpolation. There was no capping applied to the original sample assays. Spatial continuity of the grade of composites in the mineralized solid was assessed with a correlogram. Interpolation of the average grade of blocks within the mineralized solid from nearby mineralized composites was accomplished by ordinary kriging. All estimates are based on a parent cell dimension of 2.5 metres east, 2.5 metres north and five metres height, with search ellipsoid and estimation parameters determined for the mineralized zone geometry.
The specific gravity data distribution showed clearly two populations distinguishing the massive sulphides from the disseminated and/or vein-like sulphides. Based on logs descriptions, each assayed sample was categorized as massive sulphides, semi-massive sulphides and others (including banded, disseminated, stringers, stockwerk and veins). Density measurements were available, along with the assay information. Missing density data were assigned a value of 3.8 grams per cubic metre for the massive sulphides and 2.9 grams per cubic metre for the others, as there were no differences between the other facies. Density was interpolated in the resource model by ordinary kriging using the same parameters as the ones used for the grade interpolation.
SGS estimated an in-pit resource within a Whittle-optimized pit shell using metal prices, mill recoveries and percentages paid used for resource estimates. The in-pit estimate is based on a processing cost of $25 (U.S.) per tonne, general and administrative cost of $5 (U.S.) per tonne, transport cost of $5 (U.S.) per tonne, mining recovery of 100 per cent and a mining dilution of 10 per cent.
A cost of $42.25 (U.S.) per tonne for mining was added for the underground estimate.
Kevin Weston, president and chief executive officer of Beaufield, stated: "We are extremely pleased with the results of the SGS resource estimate of the Tortigny resource. The mineralization is high value, and proves that the drilling program was well executed and focused on expanding on our knowledge of the known resource. The area continues to have significant upside potential for increasing the tonnage given its geologic setting. Since all resources were classified as either measured or indicated, we are confident that the deposit could be a future producer. Beaufield is in an excellent position with its main properties all having great exploration potential and a solid balance sheet."
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Beaufield Resources starts airborne survey at Troilus
Dec 11, 2012 - News Release
Beaufield Resources Inc. has started a helicopter electromagnetic survey over several portions of its 100-per-cent-owned Troilus property, located 150 kilometres north of Chibougamau, Que. The survey will focus on previously identified geophysical targets located in the vicinity of the Tortigny high-grade volcanic massive sulphide (VMS) deposit, on which a resource calculation has just been released (see press release dated Nov. 28, 2012).
The company has also staked a number of new claims in the vicinity of the Tortigny deposit. Beaufield has identified the area as having a high potential for finding additional VMS-type mineralization and the new ground will improve the likelihood of success in finding new mineral resources in the area.
Geotech Ltd. of Aurora, Ont., will complete the 708-line-kilometre, helicopter-borne versatile time-domain electromagnetic (VTEM) and magnetic gradiometer survey. The detailed survey with 100-metre line spacing will cover eight distinct blocks, centred over high-priority electromagnetic megaTEM anomalies located in the vicinity of Tortigny deposit area. Geotech's VTEM system has been shown to be excellent at identifying conductive, massive-sulphide bodies, as well as mapping lateral and vertical variations in resistivity. The VTEM system is also equipped with a high-sensitivity magnetometer which can aid in mapping geologic structures and lithology. This type of survey is known for its exceptional depth penetration and provides a more accurate definition of targets than conventional systems.
The Tortigny deposit, containing measured and indicated resources of 845,000 tonnes grading 2.01 per cent copper, 4.29 per cent zinc, 55.29 grams per tonne silver and 0.39 g/t gold (National Instrument 43-101 compliant), has a strong geophysical signature, highly visible, on a previous VTEM survey conducted by Geotech for Noranda Inc. in 2004. Based on the previous success, Beaufield considers that the VTEM technology is the best tool available for prospecting for massive sulphides in the Troilus project vicinity.
The newly completed resource estimate on the Tortigny deposit encouraged Beaufield to strengthen its land position in the area by map staking 83 new claims, totalling 4,483.24 hectares. The new claims are primarily located over previously identified megaTEM targets which may indicate the presence of conductive material, such as massive sulphides. In most mining districts, VMS deposits tend to occur in clusters and Beaufield's geological team believes this is the case for the Troilus property.
This news release has been prepared by David Rivard, PGeo, vice-president of exploration for Beaufield, qualified person under NI 43-101.
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