(TheNewswire)
Vancouver, B.C. - TheNewswire- May 5, 2022, Eastfield Resources Ltd. ( TSXV:ETF ) (“Eastfield”) is pleased toannounce that Alpha CopperCorp. ( TSX-V: ALCU ) (“Alpha”) has advised thecompany that it is increasing the 2022 budget for the Indata projectto $1,000,000 with the majority of the budget for drilling. Work willstart in early June.
The Indata projectencompasses 3,189 hectares (7,880 acres) and is located 230 kilometers northwest of the City ofPrince George and immediately south of the Stardust-Kwanika Projectowned by Northwest Copper Corp . The upcoming exploration programwhile predominantly diamond drilling will alsoinclude new grid work and excavator trenching.
A quick review of copper targets as they currentlyexist is as follows:
LakeZone : A 1,000-meter-long induced polarizationanomaly has identified and drill tested porphyry in its northernregion and in 2019 returned surface samples in the southern region,where no drilling has occurred, up to 0.48% copper and 0.11 g/tgold.
NW Copper and SWCopper : Strong induced polarization anomaly inareas predominantly underlain by limestone. These Zones sharegeochemical and geological attributes with the Stardust depositlocated 18 kilometers north owned by Northwest Copper Corp.
QuarryZone : Road construction completed by a loggingcompany in 2019 exposed mineralization in altered andesite-dioritegrading up to 3.64% copper and 5.95 g/t gold. While this result wasselect in nature it is significant. Limited excavator trenchingcompleted in 2019, in some directions from the quarry, did not reachbedrock.
NortheastCopper : In 2019 select sampling averaged 1.32%copper and 0.10 g/t gold in an area where a Placer Dome geologistsampled 17 samples in 1989 averaging 0.95% copper and 0.08 g/t gold inandesite-diorite variably silicified and quartz veined over an area of400 meters by 250 meters (select values sometimes exceeding 3.5%copper and 500 ppb gold). An optimistic explanation for thismineralization is that it may represent leakage from a hidden porphyrysystem.
Alpha Copper Corp. has an option to earn a 60% interestIn the Indata Project from Eastfield ResourcesLtd . by paying $400,000 (cash and/or shares) and completing$2,000,000 in exploration expenditures before June 20, 2023.
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:
Projects as follows :
Zymo : 8 km long copper-goldporphyry system with several 1 km scale targets, located 45 km west ofSmithers, BC and 100% owned. Results include drill holes ZY08-07 with0.72% copper and 0.66 g/t gold over 72 meters and hole ZY11-20 with0.28% copper and 0.34 g/t gold over 126 m. Peripheral precious metalveins have returned up to 10.78 g/t gold. Work completed in 2021included expansions to the induced polarization and soil grids at acost of approximately $430,000. Zymo is fully permitted.
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 flown by Expert GeophysicsLimited and extensive geological reconnaissance and sampling later in2021. Induced polarization surveying is currently in progress withdrilling planned for later in 2022 (3,000 to 5,000 meters). Iron Lakeis fully permitted.
Indata : copper-gold porphyryand precious metal quartz vein, located 120 km north of Fort St.James, BC, optioned to Alpha Copper Corp who may earn 60% bycompleting $2,000,000 in exploration and paying $450,000 (cashand/or shares) by June 20, 2023. A number of very prospective untestedinduced polarization targets exist and are fully permitted. Resultsfrom previous drilling include DDH88-11 with 47.26 g/t gold over 4 mand DDH98-4 with 0.20% copper over 148 m including 0.37% copper over24 m at the bottom of the hole. In 2019 new mineralization was exposedby logging activities in the southern region of the claims withsamples returning up to 3.64% copper and 5.95 g/t gold. The Kwanikaand Stardust deposits, owned by Northwest Copper Corp., are locatedimmediately north of Indata and share similar geology. A 3,000 meterdrill contract has been signed with work scheduled to start in June2022.
Hedgehog :copper-gold (VMS) and lode gold, located approximately 12 kilometersnorth of the community of Barkerville, BC. In 2021 option partner WestOak Gold Corp discovered several new anomalies. Particularlyintriguing is a soil sample with 0.22% copper and 8.45% iron. Interest in this sample is inspired by previous float samplescollected further south on the property including a massive sulfideboulder grading 24.3% copper and 19.6 g/t silver collected in 1999 andfive additional copper rich massive sulfide boulders with an averagegrade of 8.0% copper and 8.9 g/t silver collected in 2000. In 2013,Eastfield discovered a new area of mineralization in the northernregion of the claims where quartz veins hosted in sheared rhyolitereturned grab samples to 1.51 g/t gold and 1.37% zinc. Other companiesactive in the area include Osisko Gold Royalties Ltd.) (TSX: OR) whoare currently conducting a major exploration program for gold tenkilometers to the south in and around the former operating Barkerville Mine. The project is fully permitted.
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 metre by 800 metre 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 permittedfor drilling.
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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