Pius Goldfields Company (TSXV: BGF) Diamond exploration operations have begun in the Grondin area, located within the Beauce gold project in Beauceville, Quebec.
This program follows the company’s February 9, 2026 announcement outlining a planned drilling campaign of up to 1,500 meters targeting the anti-form structure Saddle Reef.
The 2026 exercise campaign will be conducted in two phases. The first phase consists of five diamond holes with a total length of approximately 500 metres. The second phase will be followed by testing of the Grondin zone anomaly for induced polarization (IP) PP-2, incorporating the results of the first phase and additional geophysical work to improve targeting along the strike and identify new zones.
Patrick Levasseur, President and CEO, commented: “Conducting training now on site represents an important step forward in enhancing the Saddle Reef discovery. The first phase is designed to test depth extensions and verify the continuity of mineralization while the second phase will allow us to refine and expand our targeting based on real-time results and additional geophysics.”
Phase 1 Drilling Program – Grondin Area: The initial Phase 1 drilling program is designed to test regression continuity in known mineralized zones and evaluate new geophysical targets.
Hole GR-26-01: This 100-meter-long hole will test the mineralized zone approximately 100 meters southwest and at a greater depth (about 60 vertical meters) than hole GR-25-08 (about 30 vertical meters).
Hole GR-26-02 is planned to be 75 meters deep at minus 50 degrees, targeting a vertical depth of approximately 60 meters to test the northwest edge of the antiform and beneath hole GR-25-02.
Holes GR-26-03 and GR-26-04: These approximately 130-metre-long holes are designed to test the Grondin area at depth, stepping back from previous holes GR-25-05 and GR-25-06. Depending on the results, the holes can be extended to a greater depth (up to 300 metres). These holes are intended to determine whether the mineralized zone is expanding or continuing at depth and to test additional areas below the Grondin View.
Hole GR-26-05: Scheduled to be approximately 55 meters deep, this hole will test the induced polarization (IP) anomaly PP-1. Additionally, this will be the northeasternmost hole in the Grondin area and will help determine whether the mineralized zone extends to the northeast.
The second phase will carry out follow-up and targeted expansion. The second phase of the program will be planned based on the results of the first phase: PP-2 induced polarization (IP) anomaly testing; Additional geophysical surveys will be conducted laterally along the structure to the northeast.
This phase is expected to improve drilling targeting and testing of newly identified areas, further assessing the size and continuity of the mineralized system.
Grondin Area – Exploration Background: The Grondin Area has been the focus of systematic exploration for Beauce Gold Fields since 2023, including multiple diamond drilling campaigns, geophysical surveys, geological mapping and limited bulk sampling.
Drilling completed in 2023 and 2025 confirmed structurally controlled gold mineralization associated with the saddle reef antiform geometry, with mineralization traced over several hundred meters and remaining open along strike and at depth.
The Grondin area forms part of the company’s wider exploration strategy which aims to identify the underlying sources of historic alluvial gold deposits at Beauce. Drilling to date has confirmed the presence of gold-bearing mineralization along the Saddle Reef structure up to approximately 4 km from the Grondin area. Subsequent induced polarization (IP) surveys and integrated geological interpretation identified an antiformal structural corridor approximately 8 km long, providing a large-scale framework for further exploration.
Based on geological, structural and geochemical observations, the Company interprets this hosted structure as one of the potential source rocks contributing to historic alluvial gold deposits within the ancient Saint-Simon-les-Mines channel.
Beauce Gold’s goal is to trace ancient alluvial gold to a primary source to uncover economic gold deposits. The company’s flagship property is the Saint-Simon-les-Mines gold project, site of Canada’s first gold rush that preceded the Yukon Klondike. The Beauce District hosted some of the largest historic alluvial gold mines in eastern North America that were active from the 1860s to the 1960s. It produced some of the largest gold nuggets in Canadian mining history (larger than 50 ounces).
Beauce Gold Fields is currently drilling recently discovered antiform systems which are believed to have contributed to the development of the extensive alluvial deposits at Beauce. The company’s geological model indicates that alluvial gold within the ancient Beauce Gold Channel, including large 19th-century nuggets, formed in compact quartz pockets within layered domed axes of antiforms, typified by the Saddle Reef Formation. Notable global Saddle Reef formations include the Bendigo gold fields in Australia (over 60 million ounces) and the high-grade Dufferin deposit in Nova Scotia.
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