(TheNewswire)
Vancouver, BC – TheNewswire - October 25, 2022 – Eastfield Resources Ltd. (TSXV:ETF)(OTC:ETFLF) (“ Eastfield ” or the “ Company “) is pleased toannounce the start-up of a drilling program on its 100% owned CRProject located approximately 80 km northeast of the town ofQuesnel, BC and 20 km north of the gold mining towns of Wells andBarkerville.
The CR property was acquired by staking in 2014. Thereis no record of hard rock mineral exploration on the CR property priorto Noranda Exploration carrying out regional exploration in the areain 1986 with airborne magnetic and ground follow-up (ground basedsurveys and soil sampling) identifying a 1.2 kilometre by 0.7kilometre arsenic in soil anomaly adjacent a local drainage namedArsenic Creek.
In 2014, Eastfield carried out induced polarization andmagnetic surveys in this area and outlined a 200 metre by 800 metrenorthwest trending chargeability high that remains open to thenorthwest. This anomaly lies along the uphill edge of the soilgeochemical anomaly. In 2018 soil sampling upslope of historical heavymineral anomalies (with values up to 3000 ppb Au), resulted inlocating several spot gold and gold-arsenic anomalies that mayindicate a source of the historical work.
A few small outcrop occurrences of chalcedonicquartz/iron carbonate alteration have been located on the property andreturned anomalous gold and arsenic values. Intensely silicified smalloutcrops have been located in the vicinity of the IP anomaly. A sub-cropping rock sample of quartz-chloritestockwork, adjacent to the outline of the IP anomaly returned 1.35 g/tgold and 1864 ppm arsenic.
The drill program will test a portion of the IP anomalyto determine whether this linear feature may represent a gold bearingzone of silicification.
This news release has been reviewed and approved by Mr.G.L. Garratt, P. Geo., who is the Qualified Person within the contextof NI 43-101 and takes responsibility for it.
Glen Garratt, P. Geo.
VP, Director
Contact: (604) 681-7913 or Toll Free:888-656-6611
About Eastfield Resources: Other Projects :
Iron Lake :copper-gold- palladium-platinum-cobalt, located 40 kilometersnortheast of 100 Mile House, BC. The project is optioned to Tech-XResources Inc. (a private company headed by Haig Farris). Targetsinclude ultramafic copper-gold- palladium-platinum-cobalt and porphyrycopper-gold. Tech-X may earn an 80% interest in Iron Lake bycompleting a total of $12,000,000 in work and paying a total of$1,000,000 in option payments by December 31, 2027. Work competed in2021 included an airborne MobileMT survey and extensive geologicalreconnaissance and sampling later in 2021. . Analytical results for 13drill holes completed in July through September, 2022 (2,620 meters inaggregate) are expected to begin to be received shortly and drillinghas recently resumed.
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. Thirteen Drill holes (2,140 meters in aggregate)completed between early July and mid-September of thisyear focused on new discovery with the primarytarget types being porphyry copper, carbonate replacement (CRD) style mineralization and precious metal richquartz-sulfide veins are currently being analysed.
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) who are currentlyconducting a major exploration program for gold ten kilometers to thesouth in and around the former operating Barkerville Mine. Theproject is fully permitted and field work is slated to resume thisweek.
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 anomalyadjacent 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 2018soil sampling upslope of historical heavy mineral anomalies (withvalues up to 3000 ppb Au), resulted in locating several spot gold andgold-arsenic anomalies that may indicate a source of the historicalwork. A few small outcrop occurrences of chalcedonic quartz/ironcarbonate alteration have been located on the property and returnedanomalous gold and arsenic values. Intensely silicified small outcropshave been located in the vicinity of the IP anomaly. A sub-croppingrock sample of quartz-chlorite stockwork, adjacent to the outline ofthe IP anomaly returned 1.35 g/t gold and 1,864 ppmarsenic. CR is permitted and drilling is plannedfor this year.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this news release.
For more information, please visit the company’swebsite at www.eastfieldresources.com .
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