(TheNewswire)
June 20, 2024, Montreal, Quebec,Canada – TheNewswire – Beauce Gold Fields (ChampsD’Or en Beauce) (TSX Venture: "BGF"), referred to as "BGF" or the "Company," is pleased to announce that the Canadiangovernment has added phosphate to the critical minerals list. TheCompany holds a portfolio of 29 prospective phosphate projectsthroughout Quebec. Phosphate is essential for agriculture and is acritical component in producing lithium iron phosphate (LFP)batteries, increasingly used in electric vehicles.
Patrick Levasseur, President and CEO of Beauce GoldFields, states, “ Thisaddition of phosphate to the critical minerals list underscores thestrategic importance of our phosphate assets. "
The Canadian Minister of Energy and Natural Resources,Jonathan Wilkinson, announced on June 10, 2024 the update to Canada'sCritical Minerals List, which now includes phosphorous and siliconmetal. This update follows substantial consultations to focusefforts on developing robust critical minerals value chains. Theaddition aligns Canada with other jurisdictions, such as Ontario, Quebec, the European Union, and South Korea,recognizing phosphorous as a critical and strategic mineral. A decision by the United States Government onthe status of phosphorous as a critical and strategic mineral isexpected in 2024-2025.
The company owns 29 phosphate projects selected for their strategiclocation and geological prospects. The company's phosphate holdingsinclude 410 claims over an area of 27,224 hectares, all fully ownedand exempt from royalties. These properties were selected based ondocumented historical occurrences of phosphate (Apatite P2O5) oravailable sample data and are open for exploration. The selection datawas sourced from the Ministère des Ressources Naturelles of Quebec(MERN), the Quebec Geomineral Information System (SIGEOM), and theGeofiche databases. (see BGF press release November 16, 2023)
Property | Region | Host Rock | Minerals | P2O5 Grade* |
Riv. Cascapédia | Gaspésie | Mudstone | Phosphate | 14% |
St-Cléophas | Gaspésie | Phosphorite | Phosphate | |
St-René de Matane | Gaspésie | Schiste | Phosphate | 12% |
Manouane Est | Lac Saint-Jean | Anorthosite | Phosphate | |
Manouane Nord | Lac Saint-Jean | Anorthosite | Phosphate | |
Manouane | Lac Saint-Jean | Anorthosite | Phosphate | |
Lac Pic | Lac Saint-Jean | Anorthosite | Phosphate | |
CH-98-0 | Lac Saint-Jean | Leuconorite | Phosphate | 8.59% |
Des Commissaires | Lac Saint-Jean | Anorthosite | Phosphate-Titanium | 6.94% |
Carriere du Rang 1 | Lac Saint-Jean | Gabbronorite | Phosphate | |
Carriere Lecarne | Lac Saint-Jean | Feldspaths | Phosphate | |
Mimosa | Lac-Saint-Jean | Feldpaths | Phosphate | |
Carriere Laurentide | Lac Saint-Jean | Monzodiorite | Phosphate | |
Riv. Aux Outardes | Baie Comeau | Nelsonite | Phosphate | 10.7% |
St-Michel-des-Saint | Mauricie | Gneiss | Phosphate-Titanium | 2.89% |
Riv. Au Lievre-Well | Laurentide | Pegmatite | Phosphate | |
Lac Hanson-Sud | Laurentide | Pegmatite | Phosphate | |
Brockaby | Mont-Laurier | Marbre | Lithium-Phosphate | |
Carriere Sables LG | Montcalm | Mangerite | Phosphate | |
Carriere Tremblay | Maniwaki | Dolomite | Phosphate | |
Bardy | La Tuque | Gaboronorite | Phosphate | |
Barrage Beaumont | La Tuque | Granite | Lithium-Phosphate | |
Baie-Obaoca | Lanaudiere | Syenite | Phosphate | 4% |
Desile-2 | Manicouagan | Gaboronorite | Phosphate-Titanium | 4.95% |
Car. De L’Anse Verte | Côte Nord | Anorthosite | Phosphate | |
Riviere Nipissis | Côte Nord | Gabbro | Phosphate | |
Carriere Lac Riverin | Côte Nord | Migmatite | Phosphate | |
Lac du Canot | Côte Nord | Granite | Phosphate | |
McVeity & Taylor | Gatineau | Phosphate |
Even though the data was sourcedfrom Quebec’s MRN databases, the Company cautions investors to notethat historical phosphate P2O5 samples results, grades, mineralizationand property descriptions are conceptual innature. A qualified person has not completed sufficient work tovalidate historical data nor to classify mineral resources as definedby National Instrument (NI) 43-101; it is uncertain if futureexploration will result in any delineated mineral resources.
Beauce Gold Fields will continue data analysis to rankthe properties for their P2O5 potential. Properties on crown land withthe highest potential will be prioritized for on-site exploration andoutcrop sampling. Work on properties that are on privately ownedland will be conditional to negotiated access and to favorablereception by local municipalities. Exploration work will be donecongruently to the company's ongoing gold projects.
About Phosphate
Phosphate is a critical nutrient for plant growth andplays a crucial role in agriculture, commonly used in fertilizers toenhance crop yields. However, global demand for phosphate isincreasing rapidly due to population growth and dietary changes,potentially leading to a depletion of global phosphate reserves, alsoknown as "Peak Phosphate" (Peak phosphorus demand trends andimplications, July 2019, Binlin Li, KB Bicknell, Alan Renwick).
In addition to agriculture, phosphate is also a keycomponent in LFP batteries, increasingly used in electric vehicles dueto their high energy density and safety features. The LFP batterymarket is projected to grow significantly, driven by the global pushtowards electric vehicles. The use of phosphate in LFP batteriescreates new demand for this critical resource, exacerbating the issueof Peak Phosphate.
Clarification on the Non-BrokeredPrivate Placement
Beauce Gold Fields Inc. submits that, in connectionwith the previous announced May 22, 2024 and June 13, 2024 non-brokered private placement of 2,475,000 flow-through units atfour cents per unit for gross proceeds of $99,000.00 and 5,335,714 units at 3.5 cents per unit for gross proceeds of $186,750.00, ithad to pay additional broker’s fees.
Beauce Gold Filds Inc. will pay as additionalfinder’s fees to StephenAvenue Securities Inc. $2,400and theissuance of 60,000 warrants entitling the agent to purchase 60,000common shares of the Corporation at a price of $0.08 per share for aperiod of 24 months from the date of closing of the placement.
The amendment is subject to standard regulatoryapprovals including the approval of the TSX Venture Exchange and theCorporation confirms that StephenAvenue Securities Inc. is atarm’s length to the Issuer and to all Placees in respect of which itis being paid a commission, finder’s fee or other similarpayment .
About Beauce Gold Fields
Beauce Gold Fields is focused on exploring anddeveloping the largest placer gold district in eastern North America.The Company’s objective is the trace old placer gold workings backto a bedrock source to uncover economic lode gold deposits. TheCompany’s flagship property is the St-Simon-les-Mines Gold projectsite of Canada’s first gold rush that pre-dates the YukonKlondike. The Beauce region hosted some of the largest historicalplacer gold mines in Eastern North America that were active from 1860sto the 1960s It produced some of the largest gold nuggets in Canadianmining history (50oz to 71oz). (Source Sedar: 43-101 Report - BeauceJuly 4 th 2018, , Author B. Violette)
Beauce Gold Fields is currentlyexploring recently discovered antiform systems that could havecontributed to the development of the extensive auriferous placers inBeauce. The Company’s geological modelsuggests that placer gold within the Beauce Goldpaleochannel, including the renowned large nuggets from the 19thcentury, formed in stressed quartz pockets within layered domed Axisof Antiforms, exemplified by Saddle Reef formations. Notable globalSaddle Reef formations include the Bendigo gold fields in Australia(over 60 million ounces) and the high-grade Dufferin deposit in NovaScotia.
Beauce Gold Fields website www.beaucegold.com
Disclaimers:
This press release contains certainforward-looking statements, including, without limitation, statementscontaining the words "may", "plan","will", "estimate", "continue","anticipate", "intend", "expect","in the process" and other similar expressions whichconstitute "forward-looking information" within the meaningof applicable securities laws. Forward-looking statements reflect theCompany's current expectation and assumptions, and are subject to anumber of risks and uncertainties that could cause actual results todiffer materially from those anticipated. These forward-lookingstatements involve risks and uncertainties including, but not limitedto, our expectations regarding mineral exploration. Such statementsreflect the current views of the Company with respect to future eventsand are subject to certain risks and uncertainties and other risksdetailed from time-to-time in the Company's on-going filings with thesecurities regulatory authorities, which filings can be found atwww.sedar.com. Actual results, events, and performance may differmaterially. Readers are cautioned not to place undue reliance on theseforward-looking statements. The Company undertakes no obligation topublicly update or revise any forward-looking statements either as aresult of new information, future events or otherwise, except asrequired by applicable securities laws.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
For further informationcontact
Patrick Levasseur, President and CEO Tel: (514)262-9239
www.beaucegold.com
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