Business
Eastfield Resources Announces Launch of New Website
(via TheNewswire) Vancouver, March 28, 2019 / TheNewswire / Eastfield Resources Ltd. ("E...
About this update from Eastfield Resources Ltd.
[{"type":"text","content":"Eastfield Resources Announces Launch of New Website(via TheNewswire)\n\n \nVancouver, March 28, 2019 / TheNewswire / Eastfield Resources Ltd. (\"Eastfield\" (TSX-V: ETF)is pleased to announce the launch of its new website today. The website is located at www.eastfieldresources.com .\n\n\n \nEastfield has been an active company listed on the Toronto Venture Exchange since 1987. It has 44.9 million shares issued, has never been consolidated and is free of debt with cash, receivables and marketable investments totaling approximately 1.3 million dollars. The business model of the company has largely been that of a prospect generator. Many of its projects have been successful and have resulted in a number of \"spincos\" being created which have subsequently been spun out to shareholders including: Lorraine Copper Corp. (\"Lorraine\": TSX-V: LLC), Cariboo Rose Resources Ltd., (\"Cariboo\": TSX-V: CRB), Consolidated Woodjam Copper Corp. (from Cariboo) (\"Woodjam\": TSX-V: WCC), Wildrose Resources Ltd. (now Spanish Mountain Gold Corp.) (\"Spanish Mountain\": TSX-V: SPA) and Fort St. James Nickel Corp. (\"Fort St. James\": TSX-V: FTJ).\n\n \n \nEastfield currently has six mineral projects located in British Columbia of which three are currently optioned to third parties. These include: Hedge Hog (copper-gold -cobalt), optioned to Surge Exploration Inc. Indata (copper-gold), optioned to Prophecy Potash Corp. and Iron Lake (copper-gold-cobalt-platinum-palladium) optioned to GK Resources Limited.\n\n \n \nAmong the remaining 100% owned projects is the 15,719-hectare (38,842 acre) Zymo copper-gold project located near the community of Smithers, BC. Zymo is a calc-alkaline copper-gold porphyry that Eastfield purchased in 2007 and has since explored extensively by soil and induced polarization surveys and 10,810 metres of drilling (36 diamond drill holes). Several zones of mineralization have been discovered within a strong induced polarization anomaly measuring 8 kilometers by 2 kilometers. Exemplary holes include hole ZY08-09 with 0.44% copper and 0.32 grams gold over 159 meters including 0.72% copper and 0.54 g/t gold over 72 meters (true width indeterminate). Other companies currently working in the Zymo area include Juggernaut Exploration Ltd. (\"Juggernaut\": TSX-V: JUGR) who recently initiated exploration at its Empire project located a...