On November 7th, 2013 Beaufield entered into an option agreement with Melkior Resources Inc. ("Melkior") whereby Beaufield could earn 10% of the Launay Gold Project by spending $250,000 on exploration within the first year of signing the option agreement (refer to November 7th, 2013, press release.) The current drill program is being funded by Beaufield and operated by Melkior.
The program will concentrate on Zone 75 where previous drill holes collared in gold mineralization intersected 1.83 g/t gold over 46.35 metres (hole LAY-08-2012) and 1.20 g/t gold over 21.09 metres (hole ML-87-87) (refer to Melkior press releases May 24th, 2013 and August 30th, 2012.) Approximately 10 holes totaling 1250 metres will be drilled; 9 holes to define Zone 75 and one hole to test an Induced Polarization anomaly.
Melkior has compiled and accurately positioned all historical drilling as well as surface work. The 9 definition holes of this program are based on the 2012 and historical drill data. Based on the drilling Melkior and Beaufield will mutually determine if the information is adequate to prepare a resource calculation.
This news release was prepared by Jens Hansen, Eng., President and CEO of Beaufield Resources Inc.
