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New Copper / Molybdenum / Rhenium Mineralization Intersected at Okeover; Highlights Include 39.7 metres grading 0.045% MoS2 and 0.27% Cu
Vancouver, B.C., April 7, 2008 - Eastfield Resources Ltd. ("Eastfield") (TSX-V: ETF) and Prophecy...
About this update from Eastfield Resources Ltd.
[{"type":"text","content":"New Copper / Molybdenum / Rhenium Mineralization Intersected at Okeover; Highlights Include 39.7 metres grading 0.045% MoS2 and 0.27% Cu\n\n\nVancouver, B.C., April 7, 2008 - Eastfield Resources Ltd. (\"Eastfield\") (TSX-V: ETF) and Prophecy Resource Corp. (\"Prophecy\") (TSX-V: PCY) have received assay results for three diamond drill holes completed in the southern area of the Okeover project located on British Columbia's south central coast, 20 kilometres north of the City of Powell River. The holes were drilled in November and December 2007 to complete a preliminary test in an area referred to as the South Breccia Zone. A total of 782 metres of drilling was completed in these three holes and resulted in the discovery of a new area of copper-molybdenum mineralization.\n\nHighlights\n\nHole 07-08 intersected 39.7 metres grading 0.045% MoS2 and 0.27% Cu, including 25.4 metres grading 0.068% MoS2 and 0.25% Cu. This hole was angled to the south and the area beyond this point in this direction has not been drilled. \nSummary\n\nHole From (metres) To (metres) Interval (metres) MoS2 % Cu % Cu Equivalent (1) \n07-08 63.0 102.7 39.7 0.045 0.27 0.54 \nIncluding 63.0 88.4 25.4 0.068 0.25 0.66 \n07-09 33.0 69.4 36.4 0.010 0.27 0.33 \nAnd 84.6 114.6 30.0 0.017 0.36 0.47 \n07-10 No Significant Intercepts \n\n(1) Based on copper priced at $2.50 per pound and molybdenum at $25 per pound without provisions for recoveries or operating costs.\n\nDiscussion\n\nDrilling completed in early 2007 at Okeover included four holes completed in the North Lake Zone, which hosts a NI 43-101 compliant resource estimate of 86.8 million tonnes grading 0.31% Cu and 0.014% MoS2 calculated in late 2006 by N.C. Carter, Ph.D., P. Eng. Three of these holes were completed as step-outs (average 75 metres) to the east and one as a deeper test beneath the western area of the current resource. All four holes encountered significant mineralization with the three eastern step-outs all ending in mineralization grading in excess of 0.19% Cu and 0.017% MoS2 to confirm that the North Lake zone is open for expansion to the east and at depth. Ten additional drill sites were prepared in the North Lake area during October and November 2007 and this area will be the subject of additional drilling scheduled to commence in May 2008.\n\nA rock exposure located approximately 400 metres...