Nov. 1, 2010 (TheNewswire.ca) --
Vancouver, BC, November 1, 2010 - Eastfield Resources Ltd. (TSXV:ETF) "Eastfield" (TSX-V: ETF) wishes to announce that exploration has commenced on the Indata property located approximately 130 kilometres to the northwest of Fort St. James in central British Columbia. Work is being funded by option partner Oceanside Capital Corporation "Oceanside" (TSX-V: OCC).
The Indata property consists of 15 claim blocks comprising 3,041 hectares and is situated in a complex geological setting adjacent to the Pinchi Fault, a major structure separating the sedimentary rock dominated Cache Creek and the mafic volcanic dominated Quesnel Terrane. Two types of mineralization have been discovered at Indata; mesothermal gold-silver veins and porphyry style copper mineralization hosted in mafic volcanic rocks and granodiorite dominant intrusions. A third style of mineralization not previously explored at Indata is nickel related to a zoned ultramafic intrusion variably serpentinized and covered by soils which are anomalous in nickel content.
Approximately $2,350,000 has been spent exploring the Indata property since 1984, with the most recent work completed in 2008. Exploration has included the collection of over 4,200 soil samples, the completion of over 30 line kilometres of ground geophysics, over two kilometres of excavator trenching and the completion of 73 diamond drill holes (7,377 metres).
Two precious metal bearing veins systems have been discovered at Indata and traced for 1,200 metres in a north-south-trending direction in a corridor approximately 500 metres wide. These veins occur in areas of coincidental anomalous arsenic and antimony in soil and high chargeability values from induced polarization surveys. The most significant gold intercept to date is hole 88-I-11, drilled in 1988, which returned an intercept of 4.0 metres grading 47.26 g/t gold. Anomalous arsenic in soil anomalies extend for over 3.5 kilometres across the property and much of this trend has not been tested.
The known porphyry copper style mineralization occurs in an area approximately 800 metres to the west of the known precious metal vein systems. To date, only the north end of this feature has been extensively explored. The most significant drill intercept in this target is hole 96-I-4, drilled in 1996, which returned 145.5 metres grading 0.20% copper.
The current program will be focused on new targets, located at the north and south ends of the previously established grid. It will include new grid establishment followed by soil sampling, induced polarization surveying, mechanical trenching and drill site construction.
The Indata Project is owned 89.9% by Eastfield and 10.1% by Imperial Metals Corporation (TSX: III). Oceanside has an option agreement with Eastfield that grants it the option to earn a 60% interest in the property by paying the aggregate sum of $160,000 cash, issuing an aggregate of $120,000 of shares of Oceanside and by expending an aggregate of $2,000,000 on the Indata Property over a three-year period ending on December 31, 2013.
J.W. (Bill) Morton, PGeo, a qualified person for the purposes of National instrument 43-101, has read and taken responsibility for this news release.
Bill Morton, P.Geo.
CEO and DirectorEastfield Resources Ltd.
Contact: Paul Way, Business Development Manager
(604) 681-7913 or Toll Free: 888-656-6611
About Eastfield Resources:
Eastfield is a Canadian mineral exploration company focused on the discovery of large gold and copper deposits; it currently has seven projects in British Columbia and one in Nevada. Current projects include an option to earn a 100% interest in the Zymo gold-copper project; a 40% ownership in the Okeover copper-molybdenum project with 60% partner Prophecy Resource Corp. (TSXV:PCY) (TSX-V: PCY) and a 100% interest in the Tonopah gold project in Nevada. Projects currently optioned out include Kilometre 26, optioned to Oroandes Resource Corp. (OOTC:OARFF) (TSX-V: OAR); Indata, optioned to Oceanside Capital Corp. (TSX-V: OCC); Iron Lake, optioned to Cobre Exploration Corp. (OOTC:CVXHF) (TSXV:CKB'H) (TSX-V: CKB-H). Eastfield trades on the TSX Venture exchange under the symbol "ETF". For more information, please visit the company's website at www.eastfieldresources.com.
The TSX - Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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