(TheNewswire)
Vancouver, B.C. - TheNewswire - Aug 31, 2022, Eastfield ResourcesLtd. ( TSXV:ETF ) (“Eastfield”) is pleased toannounce that Tech-X ResourcesInc. (“Tech-X”) ,aprivate company headed by well-known British Columbia venturecapitalist Haig Farris, has completed 13 diamond drill holes totallingapproximately 3,100 meters on the Iron Lake project.
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. Preliminary to the current drillingTech-X completed an airborne MobileMT survey and extensive geologicalreconnaissance in 2021 and extensive induced polarization surveys in2022. The project claims now covers over 15,000 ha.
The current drill program focused on the ultramafichosted style of mineralization. Results will be released promptly oncereceived from the assayer.
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 :
Zymo : 8 km longcopper-gold porphyry system with several 1 km scale targets, located45 km west of Smithers, BC and 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. Workcompleted in 2021 included expansions to the induced polarization andsoil grids at a cost of approximately $430,000. Zymo, is fullypermitted.
Indata :copper-gold porphyry and precious metal quartz veins, located 120 kmnorth of Fort St. James, BC, optioned to Alpha Copper Corp who mayearn 60% by completing $2,000,000 in exploration and paying $450,000(cash and/or shares) by June 20, 2023. A number of very prospectiveuntested induced polarization targets exist and are fully permitted.Results from previous drilling include DDH88-11 with 47.26 g/t goldover 4 m and DDH98-4 with 0.20% copper over 148 m including 0.37%copper over 24 m at the bottom of the hole. In 2019 new mineralizationwas exposed by logging activities in the southern region of the claimswith samples returning up to 3.64% copper and 5.95 g/t gold. TheKwanika and Stardust deposits, owned by Northwest Copper Corp., arelocated immediately north of Indata and share similar geology.Drilling is currently in progress.
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 propertyincluding a massive sulfide boulder grading 24.3% copper and 19.6 g/tsilver collected in 1999 and five additional copper rich massivesulfide boulders with an average grade of 8.0% copper and 8.9 g/tsilver collected in 2000. In 2013, Eastfield discovered a new area ofmineralization in the northern region of the claims where quartz veinshosted in sheared rhyolite returned grab samples to 1.51 g/t gold and1.37% zinc. Other companies active in the area include Osisko GoldRoyalties Ltd.) (TSX: OR) who are currently conducting a majorexploration program for gold ten kilometers to the south in and aroundthe former operating Barkerville Mine. The project is fullypermitted.
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 .
Copyright (c) 2022 TheNewswire - All rights reserved.