(TheNewswire)
Vancouver, BC – TheNewswire- October 4, 2022 - Eastfield Resources Ltd. “Eastfield”(TSXV:ETF) (OTC:ETFLF) is pleased to announcethat Iron Lake option partner Tech-X Resources Inc. “Tech-X” has advisedthat it will resume drilling at Iron Lake on or about October 10.Analytical results for 13 drill holes completed in July throughSeptember (2,620 meters in aggregate) are expected to begin to bereceived shortly. Tech-X is a private company headed by well-knownBritish Columbia venture capitalist Haig Farris with geologicalguidance provided by well-known geologist Jim Dawson.
Iron Lake is located approximately 50 kilometersnortheast of the community of 100 Mile House, BC with targetsincluding ultramafic hosted copper-gold- palladium-platinum-cobalt andseparately, porphyry copper-gold. The project claims cover over 15,000hectares.
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.
This news release has been reviewed and approved by Mr.J.W. Morton, P. Geo., who is the Qualified Person within the contextof NI 43-101 and takes responsibility for it.
J.W. Morton, P. Geo.
President and CEO
Contact: (604) 681-7913 or Toll Free:888-656-6611
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. 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 and carbonate replacement(CRD) style mineralization are currently beinganalysed.
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. In2013, Eastfield discovered a new area of mineralization in thenorthern region of the claims where quartz veins hosted in shearedrhyolite returned grab samples to 1.51 g/t gold and 1.37% zinc. Othercompanies active in the area include Osisko Gold Royalties Ltd.) (TSX:OR) who are currently conducting a major exploration program for goldten kilometers to the south in and around the former operatingBarkerville Mine. The project is fully permitted and field work isslated to resume this week.
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 planned for 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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