Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Beauce Gold Fields (TSX: BGF) announced this week that it is testing a new Russian technology at Quebec’s Rang St-Gustave Road in St-Simon-les-Mines.
In detail, the miner is conducting a high resolution mobile electromagnetic or TDEM survey that measures electrical chargeability and electrical conductivity at a horizontal resolution of 15cm. In a press release, Beauce Gold said the system also allows a vertical penetration at depth to the order of 200m.
“The method is optimal for detecting narrow ore bodies (auriferous zones) and for prospecting within conductive geological stratums that are particularly frequent in the Beauceville Formation and throughout the Bellechasse gold belt,” the media brief reads.
The geophysical team consists of people from the Institute National de la Recherche et des Sciences and two geophysicists from Russia’s Aerogeophysica Surveys.
According to the Montreal-based company, the primary objective of the geophysical survey is to identify potentially mineralized zones that could possibly be the hard rock source of the gold contained in the placers of St-Simon-les-Mines.
“Using this new state-of-the-art exploration technology will add to our understanding of the geology and help us reach our goal of finding a hard rock source of the famous Beauce’s placer gold deposits,” Patrick Levasseur, President and CEO of Beauce Gold Fields, said in the media brief.
The Beauce project comprises a block of 152 claims 100% owned by Beauce Gold Fields. The project area hosts a six kilometre long unconsolidated gold-bearing sedimentary unit and numerous historical gold mines that were active from the 1860s to the 1960s.
