Feb. 3, 2011 (TheNewswire.ca) --
Vancouver, BC, February 3, 2011, Eastfield Resources Ltd. (TSXV:ETF) "Eastfield" (TSX-V: ETF) and Oceanside Capital Corporation "Oceanside" (TSX-V: OCC) wish to report on the status of exploration being undertaken at the Indata Project located approximately 130 kilometres to the northwest of Fort St. James in central British Columbia. The 2010 work program entailed establishing ten kilometres of cut grid, completing 5.4 kilometres of induced polarization surveying and collecting 471 soil samples. Work was suspended in mid November due to weather before the southern portion of the geophysical survey was completed.
The Indata property consists of 15 claims comprising 3,041 hectares situated in a complex geological setting adjacent to the Pinchi Fault, a major structure separating the oceanic Cache Creek terrane and the volcanic dominated Quesnel Terrane. Three styles of mineralization occur on the property, namely 1.) Ophiolite related mesothermal gold, 2.) porphyry copper mineralization (possibly unrelated) and 3.) Ophiolite related nickel mineralization. The first two types of mineralization have been the predominant exploration objective at Indata for the last 25 years. Ophiolite related disseminated nickel mineralization was added as a new objective in 2010 as a consequence of review of a reconnaissance soil line established by Imperial Metals Corporation in 1983 (south of the pre-2010 grids). The 1983 soil line contains an 800 metre wide section (sampled on 50 metre centres) which contains very high concentration of soil nickel (to 1,247 ppm) and soil magnesium (to 9.40%). The high magnesium is thought to most likely be caused by the serpentinization of ultramafic rock and is now deemed to warrant follow up as a potential host for nickel alloy mineralization similar to what is currently being explored by First Point Minerals Corp. (TSXV:FPX) (TSX-V: FPX) and Cliffs Natural Resources Inc. (NYSE: CLF) at the Decar Project approximately 50 kilometres to the southwest. Soil results obtained from three new Indata lines south of this area that were cut and soil sampled in 2010 returned soil nickel values to 1,600 ppm.
Grid establishment, soil sampling and Induced polarization surveying, were also completed on the northwestern edge of the mesothermal gold target, located approximately 4 kilometres to the northwest. Several geophysical targets were defined which also will be evaluated in 2011. In 2011 rock sampling and geophysical surveying are planned.
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.
Soil samples were analyzed at the facilities of Acme Analytical Labs Ltd. in Vancouver, BC using multielement procedures.
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 Director Eastfield 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 Calico Exploration Corp. (TSX-V: CKB). 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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