UC Resources Ltd. reports results of the drill program from the McFaulds Lake project area of the James Bay Lowlands (JBL) in the “Ring of Fire” and about airborne surveys on the property.
The 950 km airborne survey has been partially completed as equipment breakdown prevented the full survey. So 430 km were completed using the SHA three-axis, helicopter towed, magnetic gradiometer and VLF-EM system at a flight path separation of 100 meters. This is a very low flying close gradient survey and is expected to provide vivid magnetic detail.
The second airborne survey, a Fugro Airborne Survey, conducted a high-sensitivity aeromagnetic and Falcon™ Airborne Gravity Gradiometer (AGG) survey over the East and West claims of UC Resources Ltd. The production flights took place during January 2011 with the first production flight taking place on January 3rd and the final flight taking place on January 6th. The survey completed 5 production flights for a combined total of 1810 line kilometres of data acquired. Final reports of the airborne surveys to the Company are still pending.
ZTEM survey was flown on May, 2009.
Beaufield Resources Inc reports that the Falcon Airborne Gravity Gradiometer (AGG) survey has been completed at Schefferville Quebec and preliminary data has been received. The AGG data along with previously flown magnetic, electromagnetic and radiometric data are being interpreted by Condor Consulting of Denver Colorado, recognized experts with this data. The AGG survey represents cutting edge mineral exploration technology developed by BHP.
An initial overview of the data indicates several anomalous gravity responses on Beaufield’s 100% owned ground. These are located in a favourable geological context for locating iron oxide deposits in an area where such deposits are being prepared for production by New Millennium Capital Corporation (NML.V) and Labrador Iron Mines Holdings Ltd. (LIM.T). Gravity targets for SEDEX zinc deposits have also been indicated in areas of favourable geology up stream from significant lake sediment zinc anomalies published by the Quebec government. These anomalies have amplitudes of 5089, 4440, 4460 and 5830 ppm zinc are the highest values recorded in north-east Quebec. (Out of +20,000 samples).
The approximate costs of the survey and interpretation is in the order of $350,000. Condor Consulting recommendations will generate ground targets that will be followed up with field work.
The Schefferville and Labrador areas are the premier iron mining districts of Canada. Recent work is demonstrating the presence of other significant mineral occurrences and deposits in the region including zinc, rare earths, gold and base metals (copper-zinc).
Beaufield has approximately $6 million in working capital, no debt and a promising portfolio of gold and base metal properties.
Schefferville Highlights :
- Lake sediments highly anomalous in Zinc (5000 ppm)
- Anomalous trace elements indicative of the potential for a SEDEX deposit.
- 960 line kilometre airborne geophysical survey completed on the property
- Favorable geological setting for SEDEX and Iron Ore type deposits