(TheNewswire)
VANCOUVER, British Columbia – TheNewswire - August 12, 2022 – Eastfield ResourcesLtd. ( TSXV:ETF ) ( OTC:ETFLF )( Frankfurt:35E ) is pleased to provide a mid seasonupdate on progress at the Indata project being explored by Alpha Copper Corp. (CSE:ALCU). Alpha Copper Corp. has an option to earna 60% interest In the Indata Project from Eastfield Resources Ltd . by paying $400,000 (cash and/or shares) andcompleting $2,000,000 in exploration expenditures before June 20,2023.
Indata is located approximately 220 kilometersnorthwest of the city of Prince George on the juncture of QuesnelTerrane Rocks and Cache Creek Terrane rocks in and around the PinchiFault Zone. The summer drill program currently underway is orientedwith a discovery objective looking for three distinct target types;porphyry copper gold (molybdenum), vein gold and carbonate replacement(CRD) mineralization.
Alpha is undertaking a 5,000-metre drill program to test multiple highlevel geophysical targets The first 2022 drill hole, of this drillingcampaign, IN-22-74 (Target ‘J’) started in volcanic mineralizedrock then encountered felsic intrusive near the end of the hole (144metres) where it intersected molybdenum mineralization (a classiccharacteristic of CRD mineralized rock in limestone is an adjacentmolybdenum mineralized porphyry body). Please find attached photo ofmolybdenum mineralization in hole IN-22-74.
Figure 1: Representative photo of molybdenummineralization identified near the end of drill hole NL-22-74
IN-22-75 and IN-22-76 were drilled as the project movednorth to the Lake Copper Target. Hole IN-22-76 encountered encouragingvein mineralization and both holes confirmed the extent of theintrusive entity which is receptive for porphyry copper-goldmineralization. As seen on map insert (Figure 2).
Figure 2: 2022 Drill targets and IP Data
Diamond drill hole IN-22-80 is targeting an area nearidentified outcrops of mineralized areas with chalcopyrite discoveredin 2019 on the east side of Albert Lake which is approximately 100metres west of the north-south oriented geophysics inducedpolarization (“IP”) line 1250E. The drill hole encountered strongchalcopyrite mineralization from surface to 45 metres which is veryencouraging since there is only limited IP coverage in this area. TheLake Copper Target was discovered through an outcrop sample taken in2019 which ran 0.48% copper and 0.11 g/t gold. We have elected tocontinue drilling hole IN-22-80 past its originally targeted depth asthe core visuals are very encouraging.
So far, the project has been very selective in itsdrilling to maintain efficiency and resources as we move from targetto target. We anticipate this drilling campaign to last well into Q3of 2022 with results coming in intermittently during the course of theprogram.
Qualified Person
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 its technicalcontent.
J.W. Morton, P.Geo.
President and CEO
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 .
About Eastfield Resources
Eastfield Resources Ltd. is a project generatoroffering highly prospective projects for investors and venturepartners. Eastfield currently has five mineral exploration projectsinBritish Columbia, Canada, all of which will have active explorationactivity in 2022. These projects include Gold, Copper, Cobalt, Silver,Molybdenum and Platinum Group Metals. Eastfield Resources partnerswith other companies to fund exploration of these properties. Thisstrategy reduces risk, increases leverage and minimizes sharedilution.
Since inception, our projects have resulted in 5spinouts and numerous joint ventures in its various spinouts withpartners including Goldfields, Teck, Freeport McMorran and other majorand junior resource companies.
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