Beauce Gold Fields Agrees to Sell CH-98 Phosphate Property to Inspiration Mining Corp.
Beauce divests non-core assets to streamline focus on its core Quebec gold projects.
Beauce Gold Fields Inc. (TSX Venture: BGF) has entered into an agreement to sell its 100% interest in the CH-98 phosphate property in Quebec to Inspiration Mining Corp. (CSE: ISP). The transaction is structured as a share swap, with Inspiration issuing 10,000,000 common shares to BGF, valued at $0.04 per share, totaling $400,000 in consideration.
The sale allows BGF to divest non-core assets and focus management resources and exploration efforts on its core gold assets in southern Quebec, specifically the Saint-Simon-les-Mines paleoplacer channel. Completion of the transaction is subject to regulatory approvals and BGF's obligation to deliver an independent NI 43-101 technical report on the CH-98 property.
CH-98 property technical highlights include: * 8.07% P2O5 sampling * Preliminary flotation work reporting a concentrate grading 38.9% P2O5 with 93.4% recovery
Beauce Gold Fields Inc. (BGF) has agreed to divest its CH-98 phosphate exploration asset in a transaction valued at $400,000 in shares. The company noted that this consideration is immaterial relative to its current cash position of $313,242 and its broader exploration budget. The move removes the requirement for BGF to fund further phosphate exploration, allowing capital and management attention to concentrate on the Saint-Simon-les-Mines paleoplacer and Grondin lode gold projects.
The share consideration provides indirect exposure to Inspiration Mining Corp. (ISP), a CSE-listed junior with no proven resource. BGF stated that this adds speculative value rather than immediate financial stability. The transaction does not generate an immediate cash inflow, as completion is contingent on regulatory approval and the delivery of a technical report. The divestment aligns with prior management statements regarding the streamlining of the company’s portfolio.
Beauce Gold Fields Inc. (BGF) is an exploration-stage company focused on the Beauce region of Quebec, Canada. The company’s flagship asset is the Saint-Simon-les-Mines paleoplacer channel, a buried gold-bearing feature approximately 6 km in length. The exploration target for this property is estimated at 4.0 to 6.0 million cubic metres grading between 2.02 and 12.0 g Au/m³.
The company also holds the Grondin Zone, a secondary project characterized by a Saddle Reef antiform structure. This area has demonstrated high drill success rates of 88% and continuous mineralization. Beauce Gold Fields previously held the CH-98 phosphate property, which has since been divested. The company remains in the exploration stage and has not yet defined a mineral resource.