ETF:CC - 2023 Diamond Drill Results Iron Lake Magmatic Sulphide Project

(TheNewswire)

Oct 11, 2023 – TheNewswire - Iron Lake optionpartner Tech-X Resources Inc. has provided Eastfield ResourcesLtd.( TSXV:ETF ) the results ofdiamond drilling completed between June 29 and July 26, 2023 on theIron Lake copper-nickel-cobalt-platinum-palladium – gold sulphideprospect located 45 kilometers northeast of the community of 100 MileHouse, BC. A total of 1,680 m of diamond drilling was completed in 3holes. Two holes targeted the semi-massive sulphide horizon), referredto as the Discovery Zone, while the remaining hole was directed towarda recent airborne geophysical anomaly in an area called the NorthwestZone. Holes were angled between -55 to -65 degrees and varied inlength from 324 to 750 meters.

The following table summarizes significant results:

Hole IL-23-024 was drilled atthe Discovery Zone to test a conductivity anomaly at a depth of 570 mdown-dip of sulphide intersections in holes IL-22-012 and IL-22-013drilled in 2022.  The hole was extended to 606 m after intersectingtwo narrow massive sulphide layers at 530.0 m and 537.0 m (twoadditional massive sulphide layers were subsequently intersected at572.2 m and 576.9 m).  These mineralized layers were pyrrhotitedominant and pyrite dominant respectively confirming that the magmaticsulphide system in the Discovery Zone remains open to depth. Assayresults for a 9.5 m interval spanning across both of these massivesulphide intersections graded 0.42% copper and 341 ppm nickel (569.0 mto 578.5 m).  This interval includes one sample which returned acopper value over limit (>1%).

Hole IL-23-025 tested nearsurface and deeper flat lying conductivity anomalies outlined in anairborne survey completed in 2022 at the Northwest Zone (approximately3.0 kilometres to the northwest of Il-23-24).  This hole wascompleted at a depth of 750.0 m and predominantly intersectedmagnetite bearing pyroxenite consistently elevated in nickel with 24.1metres grading 0.1% Ni.  No massive sulphide intervals wereencountered.

Hole IL-23-026 was drilledtowards IL-23-024 to target the up-dip projection of the massivesulphides intersected in IL-23-024.  A 0.3 metre massive sulphidelayer was intersected at 216.0 m.  Results from this intersectionyielded 0.65% copper, 0.1% nickel and 0.3 g/t palladium over 0.5metre.

A number of single point (single core sample) anomalies were obtainedin these three holes including gold to 677 ppb, platinum to 723 ppband cobalt to 1,620 ppm. Five samples returned >30% iron and four>20% sulphur.

Drilling in 2023 has demonstrated that mineralization at the DiscoveryZone extends to depth and that potential for a large Alaskan-typesystem exists.  The 2023 program did not evaluate the porphyrytargets defined by extensive induced polarization surveys completed in2021 and 2022. Further work will be required to test the DiscoveryZone along strike and to follow-up on significant drill interceptselsewhere on the Project.

Tech-X Resources Inc. is a private company headed by Haig Farris withgeological oversight provided by Jim Dawson. Tech-X may earn an 80%interest in the Iron Lake property by completing a total of$12,000,000 in work and paying a total of $730,000 in option paymentsby June 15, 2029. A 51% interest becomes earned following explorationexpenditures of $4,000,000 and option payments of $230,000 by Dec 31,2025. Twenty-three diamond drill holes were completed in 2022.

Drill supervision, core logging and QC/QA was conducted by Archer,Cathro and Associates (1981) Limited, of Vancouver, BC. A total of 957samples were analyzed in the facilities of ActLabs located in KamloopsBC using a multi-element procedure with an aqua regia digestion.

To view a high-resolution image of the 2023 Iron Lake Drill Hole imageblow, follow this link.

https://eastfieldresources.com/site/assets/files/5712/figure1-2023_drill_hole_locations.pdf

J.W. (Bill) Morton P. Geo accepts responsibility as the QualifiedPerson for the technical content of this news release.

J.W. Morton, P. Geo.

President and CEO

Contact: (604) 681-7913 or Toll Free:888-656-6611

https://eastfieldresources.com

About Eastfield Resources:

Other Projects :

Indata :copper-gold porphyry and precious metal quartz veins, located 120 kmnorth of Fort St. James, BC, optioned to Alpha Copper Corp. who may earn 60% by completing $2,000,000 in exploration and  paying$450,000 (cash and/or shares) by June 20, 2023. A number of veryprospective untested induced polarization targets exist and are fullypermitted. Results from previous drilling include DDH88-11 with 47.26g/t gold over 4 m and DDH98-4 with 0.20% copper over 148 m including0.37% copper over 24 m at the bottom of the hole. In 2019 newmineralization was exposed by logging activities in the southernregion of the claims with samples returning up to 3.64% copper and5.95 g/t gold.

The Kwanika and Stardust deposits, owned by NorthwestCopper Corp., are located immediately north of Indata and sharesimilar geology.

Zymo : a bigcopper-gold porphyry system with several 1 km scale targets, located45 km west of Smithers, BC which is 100% owned by Eastfield. An 8kilometer by 3 kilometer induced polarization chargeability anomalyincludes and surrounds known mineralization. Drill results includeholes ZY08-07 with 0.72% copper and 0.66 g/t gold over 72 meters andhole ZY11-20 with 0.28% copper and 0.34 g/t gold over 126 m.Peripheral precious metal veins have returned up to 10.78 g/t gold.Work completed in 2021 included expansions to the induced polarizationand soil grids at a cost in excess of $400,000. Zymo is fullypermitted.

Hedgehog :copper-gold (VMS) and lode gold, located approximately 12 kilometersnorth of the community of Barkerville, BC. In 2021 option partner West Oak Gold Corp discovered several new anomalies. Particularly intriguing isa soil sample with 0.22% copper and 8.45% iron.  Interest in thissample is inspired by previous float samples collected further southon the property including a massive sulfide boulder grading 24.3%copper and 19.6 g/t silver collected in 1999 and five additionalcopper rich massive sulfide boulders with an average grade of 8.0%copper and 8.9 g/t silver collected in 2000. In 2013, Eastfielddiscovered a new area of mineralization in the northern region of theclaims where quartz veins hosted in sheared rhyolite returned grabsamples to 1.51 g/t gold and 1.37% zinc. Other companies active in thearea include Osisko Gold Royalties Ltd.) (TSX: OR. The project isfully permitted and field work was conducted in October.

CR: gold,located approximately 80 km northeast of the town of Quesnel, BC and20 km north of the gold mining towns of Wells and Barkerville, wasacquired by staking in 2014. There is no record of hard rock mineralexploration on the CR property prior to Noranda Exploration carryingout regional exploration in the area in 1986 with airborne magneticand ground follow-up (ground based surveys and soil sampling)identifying a 1.2 kilometre by 0.7 kilometre arsenic in soil anomalysurrounding a local drainage named Arsenic Creek. In 2014, Eastfieldcarried out induced polarization and magnetic surveys in this area andoutlined a 200 meter by 800 meter northwest trending chargeabilityhigh that remains open to the north. In 2018 soil sampling upslope ofhistorical heavy mineral stream sediment anomalies exposed severalspot gold and gold-arsenic anomalies that may indicate a source of thehistorical heavy mineral sampling in this direction. CR is permittedand drilling is currently in progress.

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