(TheNewswire)
Vancouver, BC - TheNewswire - Feb ruary 21, 2023 - Eastfield ResourcesLtd. “Eastfield”(TSXV:ETF) (U S OTC:ETFLF) is pleased to announce that IronLake option partner Tech-XResources Inc. “Tech-X” (a private company) has provided Eastfield with the results of thefinal 10 diamond drill holes of the 2022 program (the results of thefirst 13 holes were announced on November 7, 2022). The Iron Lakeproperty is a copper-nickel-gold-platinum-palladium-cobalt projectlocated 50 kilometers northeast of the community of 100 Mile House,BC . The property is beingexplored for two target types: The first type being magmatic sulphidescontaining copper, nickel, gold, platinum, palladium and cobaltoccurring as massive sulphide sheets and as disseminations, and thesecond target type being copper-gold porphyry hosted in adjacentdiorite and monzonite porphyritic intrusive. During the 2022 season 23diamond drill holes with a combined meterage of 5,001 m werecompleted.
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.
Hole Summaries Released TodayInclude:
IL22-014 waslocated to test a frequency domain electromagnetic crossover beneath a900 ppm copper in soils anomaly. The hole intersected a weightedaverage of 652 ppm copper over 27 meters, including three sections ofover 1000 ppm copper. Maximum copper concentration was 0.11%.
IL22-015 waslocated to test below a 1974 copper in soils anomaly grading >1300ppm copper, surface rock samples grading 1373 and 4214 ppm copper, anda nickel in soils anomaly grading > 50 parts per million. The holeintersected 673 ppm copper over 37 meters including 8 meters of 0.12%copper. The combined gold, platinum and palladium concentrations overthe 37 meter interval ranged from 19 to 317 ppb.
IL22-016 testedboth an induced polarization chargeability anomaly from a 2019 surveyand a partial electromagnetic crossover from a 2006 UTEM survey. Thehole intersected approximately 90 meters of elevated concentrations ofcopper (82 to 969 ppm), nickel (11 to 548 ppm) and cobalt (29 to 107ppm). Combined Au+Pt+Pd concentrations ranged from 8 to 564 partsper billion over a wider section of 137.4 meters.
IL22-017 waslocated to test below a >1300 ppm copper in soils anomaly,historical trench assays of 1373 and 4214 ppm copper and nickel insoils > 50 ppm. The hole did not explain the surfaceanomalies.
IL22-018 wasdesigned to test 50-75 meters beneath the massive sulphide/ magnetitezone intersected in IL22-006 drilled early in the 2022 season. Thishole intercepted multiple horizons of massive sulphide and magnetiteover a 30 meter length between 196.1 and 226.1 meters downhole andsignificantly expands the area of the massive sulfide sheet firstidentified by Eastfield in 2005 when 17.0 meters of massive sulfideassaying 0.34% Cu, 0.03% Co and 362 ppm Ni were drilled(05-I-03). While the massive intersections areso far dominated by pyrrhotite, pyrite and magnetite, both Eastfieldand Tech-X are optimistic that this style of sulphide has potential tograde into zones with higher concentrations of copper, nickel, cobalt,gold and platinum group metals; both laterally and at depth.
Tabulated Results for the Zone ofMassive Sulphide Horizons as Follows:
From (m) | To (m) | width (m) | Cu % | Ni % | Co % |
196.05 | 226.05 | 30.0 | 0.06 | 0.005 | 0.005 |
including | |||||
196.05 | 199.23 | 3.2 | 0.39 | 0.019 | 0.020 |
and including | |||||
207.00 | 208.00 | 1.0 | 0.32 | 0.024 | 0.017 |
and including | |||||
225.37 | 226.05 | 0.7 | 0.07 | 0.015 | 0.014 |
IL22-019 wasdrilled for structural purposes. The hole confirmed that themineralized horizon appears to have been offset by a fault anddisplaced to the west. The exploration model has been adjustedaccordingly.
IL22-020 wasdrilled to test a porphyry target approximately 6.5 km southeast ofthe massive sulphide target. The hole intersected 2.5 metres of 0.24%copper and 3.7 g/t silver in a black sulphidic mudstone.
IL22-021 wasdrilled from the same site as IL22-020 to further test a 10-20 mv/v IPchargeability anomaly, and to test beneath surface showings of >1%copper and 665 ppb gold but was stopped short ofits planned depth. There was a section ofmoderate interest at 159.7m where 0.29 g/t gold was intersected over4.5 meters.
IL22-022 wasdirected to search for the source of a boulder sampled in 2021 thatassayed 0.84% copper and approximately 1.0 g/t combined Au+Pt+Pd.Moderately elevated concentrations of copper and palladium were foundto be dispersed through the full 249 meter length of the holeincluding 595 ppb combined Au+Pt+Pd (over 1.6 m) and 12 sampleintervals (average 2.4 m length) exceeding 100 ppb palladium (maximum227 ppb).
IL22-023 waslocated to test the northern limit of a 2006 UTEM geophysical survey. It was stopped 149 m short of its planned depth of 250 m due to lossof access at the advent of winter conditions.
Hole IL22-07 (results previously announced) locatedapproximately 3 kilometers northwest of hole IL22-18 encountered lowgrade nickel mineralization including 0.12% over 2.0 meters and 0.10%over 6.9 meters. A very large and strongly conductive zone detected inthe 2021 MMT airborne (magnetotelluric) survey underlies this hole atdepth suggesting that this mineralization may be leakage from a deepermassive sulphide source. In response to these and other encouragingresults Tech-X has advised Eastfield that early in the 2023 season itwill commission a VTEM (Versatile Time Domain Electromagnetic)helicopter borne geophysical survey.
A map showing holes completed in 2022 isattached.
Quality Assurance and Quality Control
Diamond drill core was split by sawing and generallysampled in intervals less than 3 meters with sample intervals reducedwhere massive sulphide/magnetite horizons were intersected. Certified standards, blanks and duplicate samples were inserted intothe sample stream during the sampling process. Samples weretransported to Activation Laboratories (Actlabs) facility in KamloopsBritish Columbia where they were analyzed. Actlabs maintains an ISO9001:2015 accreditation. Gold, platinum and palladium were analyzed byfire assay with an inductively coupled plasma spectrometry. Basemetals and other elements were analyzed using Aqua Regia digestionfollowed by inductively coupled plasma mass spectrometry. Qualitycontrol procedures were also undertaken by the laboratory duringanalysis.
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 :
Zymo : 8 km longcopper-gold porphyry system with several 1 km scale targets, located45 km west of Smithers, BC. 100% owned. Results include drill holesZY08-07 with 0.72% copper and 0.66 g/t gold over 72 meters and holeZY11-20 with 0.28% copper and 0.34 g/t gold over 126 m. Peripheralprecious metal veins have returned up to 10.78 g/t gold. Zymo is fullypermitted.
Indata :copper-gold- (molybdenum) porphyry and precious metal quartz vein,located 120 km north of Fort St. James, BC, optioned to Alpha CopperCorp who may earn 60% by completing $2,000,000 in exploration and paying $450,000 (cash and/or shares) by June 20, 2023. Eleven drillholes totalling 2,140 m were completed in 2022. Results includeIN22-82 with 173.6 meters grading 0.23% copper starting at 2.9 metersincluding 28.9 meters grading 0.47% copper starting at 2.9 meters. Itconstitutes the northern boundary of the Lake Zone which remains openbeyond this point. A new zone of molybdenum mineralization wasunexpectedly discovered 5 kilometers to the south of the Lake Zone inwhat is now called “Area 74” where hole IN22-74 intersected 30.8meters grading 0.10% molybdenum (0.16 MoS2 eq.) starting at 113.7meters and continuing to the bottom of the hole including 7.5 metersgrading 0.32% molybdenum (0.51% MoS2 eq.). Results from historicaldrilling at Indata include DDH88-11 with 4.0 meters grading 47.26 g/tgold. In 2019 new mineralization was exposed by logging activities inthe southern region of the claims with samples returning up to 3.64%copper and 5.95 g/t gold. The Kwanika and Stardust deposits, owned byNorthwest Copper Corp., are located immediately north of Indata andshare similar geology.
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 soil anomalies (arsenic, zinc andcopper). Further soil sampling completed in 2022 has defined apreviously unknown cohesive arsenic-copper soil anomaly with sporadicsoil gold values to 748 ppb. Intriguing to the potential of Hedgehogare several historic float samples including a massive sulfide bouldergrading 24.3% copper and 19.6 g/t silver discovered in 1999 and fiveadditional copper rich massive sulfide boulders with an average gradeof 8.0% copper and 8.9 g/t silver discovered in 2000. In 2013,Eastfield discovered mineralization in the current area of interestwhere quartz veins hosted in rhyolite returned grab samples to 1.51g/t gold and 1.37% zinc. Other companies active in the area includeOsisko Gold Royalties Ltd.) who are conducting a major explorationprogram for gold ten kilometers to the south in and around the formeroperating Barkerville Gold Mine. Hedgehog 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. An initial drilltest was completed late in the 2022 field season (analytical work isin progress).
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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