July 2, 2025 – TheNewswire – Montreal, Quebec - Beauce Gold Fields (Champs D’Or en Beauce) (TSX Venture: "BGF"), referred to as "BGF" or the "Company," is pleased to announce the launch of a drilling campaign targeting high-priority zones along the antiform Saddle Reef structure. This structure has been identified as a likely source of historical placer gold deposits on the Beauce Gold property, located in southern Quebec.
Patrick Levasseur, President and CEO of Beauce Gold Fields, stated: “We are excited to commence drilling on promising targets along the structure believed to be the source of the region’s historical placer gold deposits. We sincerely thank the property owners who have graciously granted us access to their land and, in doing so, have joined us as valued stakeholders in the potential for future gold discoveries.”
The extraordinary number of rainy days in May prolonged the spring thaw, leaving the drill sites soft and muddy. The sites are located on privately owned land, and moving in the caterpillar-tracked drill rig and other heavy equipment would have caused damage to the property owners' roads. As a result, drilling was delayed by one month to allow for proper land drainage and drying. The site is now ready, and drilling will begin next week. We thank the property owners for granting access to their land.
High-Priority Drill Targets
The Company has selected targets based on its 2023 drilling and trenching program, which confirmed gold mineralization within the axis of a domed outcrop. Subsequent IP and geological studies have identified an 8 km-long antiform Saddle Reef structure. Geochemical studies suggest that this structure is a likely source of historical placer gold deposits in Saint-Simon-les-Mines to the southwest. The Company has been granted an ATI Authorization from Quebec’s Ministry of Natural Resources (MRNF) an ATI Authorization for impact exploration work which is valid for a period of two years, until April 1, 2027.
In this first phase, Beauce Gold Fields plans to drill seven to ten holes, totaling 500 meters, across two key zones: the Giroux Zone and the Grondin Zone. Additional drilling phases will be planned based on results from these zones, as well as to expand exploration over IP Anomalies Three and Four (see BGF press release dated December 10, 2024).
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Location: At the headwaters of Giroux Brook, a tributary of the Gilbert River. This brook played a central role in 19th-century industrial-scale placer gold mining.
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Planned Activities:
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Four exploratory drill holes will be conducted into a 150 meters wide surface mineralized zone where overlapping soil and IP anomalies suggest antiform structure signatures.
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Additional holes may be prioritized based on field results.
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Location: In the northwest corner of the Beauce Gold property in Beauceville, Quebec.
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Details: This 600-meter-long section of the structure lies above drill hole GR 23-01, drilled in 2023 (BGF press releases: November 1, 2023, and January 18, 2024).
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Findings from GR 23-01:
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The drill hole crossed a 36-meter-long mineralized zone and intersected three distinct gold zones between depths of 11 and 24 meters.
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One of the zones returned assays of 1 meter at 8.5 g/t and 5.4 g/t Au over 2.2 meters.
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Mineralization is associated with stockwork containing sulfides and shows strong deformation, which led to core loss, particularly toward the end of drilling.
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Planned Activities:
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New holes will verify gold mineralization beyond a depth of 40 meters and test areas along the structure’s strike on either side of hole GR 23-01.
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Jean Bernard, BSc, Geo, a qualified independent person as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this release.
Debt Settlement by Share Issuance
Beauce Gold Fields Inc. is pleased to announce that its Board of Directors has approved the settlement of a debt owed to a creditor, totaling $322,500 in principal and interest, through the issuance of 3,225,000 units of its share capital. This debt originated from a contract signed by the Company on December 27, 2017, and represented a net smelter return (NSR) royalty payable by the Company. The debt will be settled by issuing 3,225,000 units at a price of $0.10 per unit. Each unit consists of one common share of the Company and one common share purchase warrant. Each warrant entitles the creditor to purchase one common share at a price of $0.12 for a period of four (4) years from the closing date of the transaction. The shares issued in connection with this debt settlement will be subject to a statutory hold period of four (4) months and one (1) day from the closing date of the transaction.
This settlement and the issuance of securities are subject to the approval of the TSX Venture Exchange and applicable regulatory authorities.
The Company also announces that its Board of Directors has approved the settlement of a debt related to a property access agreement with an arm’s-length third party, in connection with planned mining work. This debt will be settled through the issuance of 1,000,000 common shares of the Company, which, based on the current share price, represents an amount of $40,000. The shares issued in this debt settlement will also be subject to a statutory hold period of four (4) months and one (1) day from the closing date of the transaction.
This transaction and the issuance of shares are subject to the approval of the TSX Venture Exchange and applicable regulatory authorities.
About Beauce Gold Fields
Beauce Gold Fields is focused on exploring and developing the largest placer gold district in eastern North America. The Company’s objective is the trace old placer gold workings back to a bedrock source to uncover economic lode gold deposits. The Company’s flagship property is the Saint-Simon-les-Mines gold project, site of Canada’s first gold rush that pre-dates the Yukon Klondike. The Beauce 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 (50oz to 71oz). (Source Sedar: 43-101 Report - Beauce July 4th 2018, Author B. Violette)
Beauce Gold Fields is currently drilling recently discovered antiform systems that is believed to have contributed to the development of extensive auriferous placer deposits in Beauce. The Company’s geological model suggests that placer gold within the Beauce Gold paleochannel, including the renowned large nuggets from the 19th century, formed in stressed quartz pockets within layered domed Axis of Antiforms, exemplified by Saddle Reef formations. Notable global Saddle Reef formations include the Bendigo gold fields in Australia (over 60 million ounces) and the high-grade Dufferin deposit in Nova Scotia.
Beauce Gold Fields website www.beaucegold.com
Disclaimers:
This press release contains certain forward-looking statements, including, without limitation, statements containing the words "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect", "in the process" and other similar expressions which constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements reflect the Company's current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding mineral exploration. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company's on-going filings with the securities regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information contact
Patrick Levasseur, President and CEO Tel: (514) 262-9239
