Eastfield Resources Update on Recent Activities, BC
October 17 2013 - 12:12PM
Access Wire
1Vancouver, BC, October 17, 2013, Eastfield
Resources Ltd. ("Eastfield") (TSX-V: ETF) wishes to provide an update of recent
activity.
During 2013 the company continued to
work on several of its projects including Iron Lake, Indata and the
Naggie property, which was staked in 2012 to cover a strong iron
oxide gossan located in the Chilcotin region of BC. One new
property named Hedge Hog was staked. It is located 20 km north of
the community of Wells in central BC. The property was staked to
cover massive sulphide boulders of volcanogenic massive sulphide
origin with samples assaying up to 24.3% copper and 19.6 g/t gold
as reported in government assessment records. Preliminary field
investigations were completed at the newly-staked Hedge Hog
property (Eastfield 70% and Badger Minerals Ltd. 30%). At the Iron
Lake, Indata and Naggie properties, geological reconnaissance and
geochemical soil and silt sampling were completed to define new
target areas previously identified by geophysical surveying
completed in 2011 and 2012.
The Iron Lake project, located 40 km
northeast of 100 Mile House BC, is a gold and platinum group metals
prospect associated with copper and lesser nickel and cobalt in
ultramafic rocks. Deposit model analogues include Kevitsa located
in Finland (First Quantum Minerals Ltd.) and Aquablanca Mine
located in Spain (Lundin Mining Corporation). At Iron Lake both
disseminated sulphide and massive sulphide styles of mineralization
occur in an olivine pyroxenite phase of a large ultramafic
intrusion. Disseminated mineralized rubble, still untraced to
outcrop, has averaged 0.71% copper, 0.04% nickel, 0.70 g/t gold and
0.33 g/t platinum group metals. Massive sulphide mineralization,
confirmed in a drill hole, has included 17 m grading 0.34% copper
and 23.7% iron which may be indicative of favourable pyrrhotite
association.
The Indata project, located 120 km
northwest of Fort St. James BC, is a porphyry copper and lode gold
prospect located within the Pinchi Fault Zone in rocks originally
interpreted to be Cache Creek Group stratigraphy, but more recently
have alternately been interpreted to be part of the Sitlika
Assemblage which is the host lithology for the Kutcho Creek
deposit. At Indata the porphyry copper target is defined by a
granodiorite volcanic contact more than 6.0 km in extent. Within
the target, soil copper values commonly exceed 500 parts per
million and attain a maximum of 7,771 parts per million. Adjacent
to the porphyry copper target, at a distance of 1.0 to 1.5 km, is a
lode gold target which has historically been the focus of most
exploration. Twenty-four drill intercepts over a 1.5 km long
corridor in the lode gold target average 8.41 g/t gold and 52.43
g/t silver over an average core width of 1.5 m with the best
intercept being 47.26 g/t gold and 2.0 g/t silver over a core width
of 4.0 m.
Project specific reviews of the Zymo
project have been conducted with several groups.
Eastfield remains financially strong
with approximately two million dollars in cash and marketable
securities.
J.W. Morton, P.Geo., who is a
qualified person within the context of National Instrument 43-101,
has read and takes responsibility for this news release.
J.W.
Morton, P. Geo.
President and CEO
Eastfield
Resources Ltd.
Contact: Paul Way,
Business Development Manager
(604) 681-7913 or Toll Free:
888-656-6611
Neither the TSX Venture Exchange
nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release.
About Eastfield
Resources:
Eastfield Resources is a Canadian
mineral exploration company focused on the discovery of large gold
and copper deposits; it currently has projects in British Columbia
and in Nevada. For more information, please visit the company's
website at www.eastfieldresources.com.
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