Montreal, Quebec – March 5, 2021 (Newsfile Corp.) (Investorideas.com Newswire) Beauce Gold Fields (TSXV: BGF) (Champs D’Or en Beauce) (“BGF”), settles excellent money owed of $50,000 due because the steadiness of NRS of $35,000 and $25,000 payable to HPQ-Silicon Sources Inc (TSXV: HPQ) for the interval of 24 months together with the years 2019 and 2020, in accordance with the sale settlement dated December 27, 2018 entered into by HPQ and the Company by which the Company acquired 120 mining claims positioned NTS sectors 21L02 and 21L07 in addition to 7 Actual Property Heaps, often known as the Beauce Placer Property, by the use of the issuance of 166,667 shares at a worth of $0.30 per share. Every share issued pursuant to the debt settlement could have a compulsory 4 (4) month and one (1) day holding interval from the date of closing. It being understood that this settlement is topic to the approval of the TSX Enterprise Alternate.
With this issuance of shares, HPQ will personal 3,036,800 shares of BGF, or 7.25% of the excellent float of BGF. BGF was spun out from HPQ by the use of a plan of association to grow to be on February 4 2019, a TSX-V buying and selling firm.
About Beauce Gold Fields
Beauce Gold Fields is a gold exploration firm centered on placer to laborious rock exploration within the Beauce area of Southern Quebec. The Firm’s flagship property is the St-Simon-les-Mines Gold mission website of Canada’s first gold rush that pre-dates the Yukon Klondike. The Beauce area hosted among the largest historic placer gold mines in Japanese North America that have been lively from 1860s to the Sixties It produced the most important gold nuggets in Canadian mining historical past (50oz to 71oz). The intent of Beauce Gold Fields is to hint the workings again to the bedrock supply and uncover financial gold mineralization.
Comprising 152 contiguous claims and seven actual property tons, the mission space accommodates a six kilometer lengthy placer channel consisting of an unconsolidated gold-bearing auriferous models of a decrease saprolite and an higher brown diamictite. The Firm has calculated a theoretical Gold Exploration Goal for your complete historic placer channel ranges between 61,000 ounces (2,200,000 m3 @ 0.87g Au/m3) and 366,000 ounces* (2,200,000 m3 @ 5.22 g Au/m3).
*Supply: Beauce July 4th 2018[43-101 Report.
The Company has identified a major Fault Line that coincides with an interpreted fault structure across the property. Evidence suggests the erosion of the Fault Line as a probable source of the historical placer gold channel, and has conducted bedrock sampling and geophysics outside the expression of the placer gold channel. The company will focus on the remote sensing surveys and compilation of the new information to prioritize its future programs.
Beauce Gold Fields website www.beaucegold.com
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
Bernard J. Tourillon, Chairman and COO Tel (514) 907-1011
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