Sep. 13, 2010 (TheNewswire.ca) --
Vancouver, BC, September 13, 2010 - Eastfield Resources Ltd. (TSXV:ETF) "Eastfield" (TSX-V: ETF) is pleased to provide an update on four of its five active exploration projects including sampling results from a new geophysical and geochemical grid established at its 40% owned Okeover project. In addition to Okeover, exploration is currently underway at the company's flagship Zymo copper-gold project (see news release of September 1, 2010 for details). New exploration programs will soon be initiated at Indata, Kilometre 26, and Iron Lake, all of which are accessible year-round.
The 5,836-hectare Okeover ("OK") project is owned 40% by Eastfield and 60% with joint venture partner Prophecy Resource Corp. (TSXV:PCY) (TSX-V: PCY) and is located in southwestern British Columbia near Powell River (approximately 100 kilometres north of Vancouver). Eastfield and Prophecy are part way through a program of new grid establishment, soil sampling and induced polarization surveying. This year, approximately 20 kilometres of new grid has been cut and soil sampled with induced polarization surveying to occur later in the season. The 2010 program was designed to explore outbound from the North Lake Zone where a mineral resource of 86.8 million tonnes grading 0.31% copper and 0.014% MoS2 was evaluated by N.C. Carter, Ph.D., P. Eng in 2006. Three significant new soil anomalies are evident in the 2010 work. A very strong soil anomaly is indicated starting approximately 200 metres north of the current North Lake Zone and extending a further 600 metres. This anomaly averages 250 metres in width and occurs on three consecutive lines defined by soils which are predominantly greater than 500 ppm copper and as high a 4,146 ppm copper. High soil copper values are generally mirrored with high molybdenum values with several samples exceeding 75 ppm Molybdenum. No drilling has ever been completed in this anomaly although a single hole is located approximately 150 metres east of the eastern boundary of this anomaly (hole 72-15 with an intercept of 59.5 metres grading 0.29% Cu and 0.027% MoS2). A second new soil anomaly is located approximately 1,200 metres north of the current North Lake Zone. This anomaly is expressed on two lines with all soil samples within the anomaly averaging 1,375 ppm copper (maximum value 8,843 ppm copper with 488 ppm molybdenum). No drilling has ever been completed in this area. A third area of high soil values (less cohesive anomaly) occurs south of the North Lake Zone to the northwest and southeast of the drill road constructed in 2008 where two holes 08-03 and 08-04 were completed. Approximately half of the samples in this anomaly exceed 500 ppm copper with one exceeding the detection limit for copper (10,000 ppm) and 583 ppm molybdenum. On subsequent assay this sample returned a value of 5.31% copper. This area additionally returned some very high soil molybdenum values with the highest value being 1,361 ppm molybdenum (0.14%). Corresponding results from the North Lake Zone are much lower than any of the three new soil anomalies discovered this year.
The 10,600-hectare Zymo project lies approximately 40 kilometres west of Smithers, in northwestern British Columbia. The geology and mineralization styles at the Zymo property indicate both copper-gold-silver porphyry and porphyry-related high sulphidation gold-silver-zinc replacement styles of mineralization. Two copper-gold mineralized zones known as the Hobbes and FM zones exist and have been partially drill tested and a third area of interest called the URC zone remains untested.In 2008, twelve holes were drilled with six of them in the Hobbes Zone. This was followed by a five-hole drill program in 2009 with four of the holes completed in the Hobbes Zone. All of the holes at Hobbes intersected significant intervals of copper-gold mineralization with the best interval being hole ZY-08-09 with 72.0 metres grading 0.72% copper and 0.54g/t gold. The Hobbes Zone currently measures in excess of 600 metres in an east-west direction and remains open-ended.
An option to earn a 60% interest in the Indata property was recently accepted by the TSX-V as the qualifying transaction to elevate Oceanside Capital Corp. (TSX-V: OCC.P) to tier 2 status. The 3,041 hectare Indata property is located in north central BC, 110 kilometres northwest of Fort St. James and is situated in a complex geological setting adjacent to the Pinchi fault. Two styles of mineralization are known to occur on the property; lode gold of a "Mother Lode" characteristic (similar to the Mother Lode district in California), probably related to the Pinchi fault and porphyry copper-style mineralization possibly related to a Triassic-Jurassic event, as is the case at Kwanika Creek, located 10 kilometres to the north. Previous drill highlights at Indata include hole 1988-11, which intersected four metres grading 47.26 g/t gold (1.38 ounces per ton) and hole 1998-4, located 1,500 metres to the west of 1988-11, which intersected 145 metres grading 0.20% copper, including 24 metres grading 0.37% copper. The technical report supporting the elevation of the company to tier 2 status recommends a 2010 program of soil grid establishment; induced polarization surveying and mechanical trenching budgeted at $204,800.
An option to earn a 60% interest in the Iron Lake property was recently accepted by the TSX-V as the qualifying transaction to elevate Cobre Exploration Corp. (OOTC:CVXHF) (TSXV:CKB'H) (TSX-V: CKB.H) to tier 2 status. The 7,116 hectare Iron Lake is located in south-central British Columbia 40 kilometres northeast of the City of 100 Mile House. The Iron Lake property covers a large mafic to ultramafic intrusive with strong associated palladium and platinum soil anomalies. In 2000, significant copper, gold, palladium and platinum mineralization was discovered in several samples of rubble (average; 7,173 ppm Cu, 676 ppb Au, and 312 ppb Pd+Pt plus 402 ppm Ni from six samples). In 2004, the Iron lake Property was flown and a number of conductors were identified. Some of the airborne targets were drill-tested in 2005-06 resulting in intersections of significant thicknesses of pyrrhotite-dominant massive sulphide. The technical report supporting the elevation of the company to tier 2 status recommends a 2010 program of 1,000 metres of diamond drilling budgeted at $200,000.
J.W. Morton P.Geo is the Qualified Person within the provisions of National Instrument 43-101 who takes responsibility for this news release.
J.W. 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. (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); and Iron Lake, optioned to Cobre Exploration Corp. (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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