Megantic Geochemical Survey Reveals Gold Anomaly Along Bella Fault Line

MONTREAL - Beauce Gold Fields reported that the soil sampling survey completed on the Bergeron section of the Megantic placer to hardrock exploration property located in southern Quebec, revealed an overburden gold anomaly along strike the Bella Fault line.

Patrick Levasseur, President and CEO, said, "This gold anomaly, along with the Chesham 10 grams per ton sample announce last week, supports the potential of the Bella Fault line being another major gold bearing structure in Southern Quebec. The Megantic property holds a similar geological model to the company's flagship Saint-Simon-les-Mines Beauce Gold property whereby a major geological fault line follows along strike the historical placer gold deposit. We look forward to investigating these anomalies further later this summer."

The Bergeron sector forms the northern part of the Megantic property and is mostly situated on Crown land and forestry land owned by Domtar. It was first explored for placer gold deposits in 1987 (GM 45387). A large quantity of "delicate" fine gold was noted in old excavations along the Bergeron river, thus suggesting a proximal primary source. The bedrock of the Bergeron river is made up of the components of the Frontenac formation, that is to say slate schists, bands of basic metavolcanites and gabbro-dioritic sills. The property is crossed by the Bella fault in the middle trending SW to NE.

Between 1993-1995, Noranda Mines and Exploration carried out a soil geochemistry survey for zinc, copper, lead and silver on a 5km2 grid (GM 53498) Their soil sampling established copper, zinc and silver soil anomalies that appear to be continuous over significant distances. One of these anomalies is over 1.8 km in length.

Between October and December 2020, the Company collected eighty four 250g soil samples (B-horizon) for gold and silver plus base metals (Pb-Zn and Cu). 14 samples per line was collected following Noranda's old exploration grid of six 100 meter lines (Numbered 27E to 34E). The objective was to confirm past anomalous values and to assay for new gold values (Noranda did not assay for gold). Samples were sent to Activation Labs for geochemical analysis.

Results showed a gold anomaly (+28 and +30 ppb Au) on 2 lines. This anomaly is open on both sides of the grid either SW of 27E and NE of 30E. We note that the anomaly follows along strike the Bella fault to the NW. Lines 33E and 34E showed significant anomalous zinc (33E 21 to 123 ppm Zn averaging 66 ppm, 34E 14 to 121 ppm Zn averaging 58 ppm) The Company intends to expand the soil geochemistry surveys later in the summer.