Business
Drilling Underway at the Zymo Copper-Gold Project, September 9 2008
(via Thenewswire.ca)
About this update from Eastfield Resources Ltd.
[{"type":"text","content":"Drilling Underway at the Zymo Copper-Gold Project, September 9 2008\n\n(via Thenewswire.ca)\nEastfield Resources Ltd. \"Eastfield\" (TSX-V: ETF) and Canadian Gold Hunter Corp. \"CGH\" (TSX: CGH) are pleased to report that drilling is underway on the Zymo copper-gold property 45 km west of Smithers, BC. Exploration on the project has been ongoing since late June in preparation for the drill program. This work has included geochemical sampling, IP geophysical surveying and geological mapping.\n\nThe drilling program will total approximately 1,500 metres in 6 holes and will focus on the newly discovered Hobbes target located 4.5 km northwest of the original discovery area (FM grid). The Hobbes target consists of copper-gold mineralization associated with magnetite and quartz stockwork. Mineralized outcrops have been observed along the length of a strongly altered intrusion for approximately 800 m. Copper and gold values from outcrop samples range from background levels to 0.86% Cu and 1.1 g/t Au.\n\nThe IP geophysical survey is nearing completion and has shown that mineralization is associated with a very large sulphide system. The IP anomalies on the FM and Hobbes grids are approximately 2.5 km wide and are open-ended (2.0 km long on FM and 1.5 km long on Hobbes). Two lines are being surveyed between the grids to determine if the anomalies join.\n\nCGH can earn a 60% interest in the property by completing exploration expenditures of $4 million over five years. CGH may earn an additional 10% interest by completing a feasibility study and an additional 5% by arranging mine financing for Eastfield.\n\nG.L. Garratt, P.Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release. R.J. Johnston, P.Geo, who is a qualified person within the context of National Instrument 43-101, is supervising the exploration program on the Zymo property.\n\nG.L.Garratt, P.Geo.\n\nOfficer and Director\n\nEastfield Resources Ltd.\n\nContact: Paul Way, Business Development Manager\n\n(604) 681-7913 or Toll Free: 888-656-6611\n\nAbout Eastfield Resources:\n\nSince its inception in 1987, Eastfield has utilized a successful business strategy that involves securing third party exploration financing on its projects. Eastfield has six projects located in British Columbia and one in Nevad...