LAC ROULEAU, Quebec KINROSS GOLD has sold its 50% interest in four claim groups in Urban Twp. to BEAUFIELD CONSOLIDATED RESOURCES for 2 million common shares of Beaufield. Beaufield acquired its half interest in the property in 1986.
Based on drilling done during the 1980s with then-partner Falconbridge, a preliminary resource of 500,000 tonnes grading 6.4 g/t Au has been estimated. Access to the area has been difficult, but the advent of new logging roads and the presence of known gold deposits have rekindled interest in Urban Twp. Beaufield intends to drill two zones to expand the existing resources along strike and at depth. Several other unexplored gold occurrences and geophysical anomalies will also be evaluated.
A map of the area is available at www.beaufield.com.