(TheNewswire)
Vancouver, B.C. - TheNewswire - July 27,2022, Eastfield ResourcesLtd. ( TSXV:ETF ) (“Eastfield”) reports that a drill program funded by Tech-X Resources Inc. is expected to begindrilling at Iron Lake on or about July 28 while a drill program fundedby Alpha Copper Corp has been drilling at Indata since July 6.
Iron Lake
Tech-X Resources Inc. (“Tech-X” ), aprivate company led by Haig Farris, is about to commence drilling atthe Iron Lake copper-nickel-cobalt-platinum-palladium-gold project,located 40 kilometers northeast of 100 Mile House, BC. During thepreceding year Tech-X has expended approximately $1M in targetdefinition including airborne surveying, ground based inducedpolarization surveying, geological mapping and hand trenching. Diamonddrilling will start within a week with a planned program of 3,000 to3,500 meters testing both ultramafic hosted sulfide and porphyrycopper-gold targets.
Tech-X may earn a 51% interest in Iron Lake byincurring exploration expenditures totalling $4,500,000 and makingoption payments totalling $520,000 over a five year term. ThereafterTech-X can earn an additional 29% (80% total) by completing anadditional $7,500,000 in exploration and paying an additional $480,000over a further two year period (total work $12,000,000, total payments $1,000,000).
Indata
On July 6, 2022 Alpha Copper Corp. (“Alpha Copper”)(TSX-V: ALCU) began a 5,000 meter drill program at the Indata copper-goldproject, located located 120 km north of FortSt. James, BC . A number ofvery prospective geophysical targets have been outlined which are bothporphyry copper-gold and vein gold in character. Results from previousdrilling include DDH88-11 with 47.26 g/t gold over 4.0 m and DDH98-4with 0.20% copper over 148.0 m including 0.37% copper over 24.0 m atthe bottom of the hole. In 2019 new mineralization was exposed bylogging activities in the southern region of the claims with samplesreturning up to 3.64% copper and 5.95 g/t gold. The Kwanika andStardust deposits, owned by Northwest Copper Corp., are locatedimmediately north of Indata sharing similar geology.
Alpha Copper may earn a 60% interest in Indata bycompleting $2,000,000 in exploration and paying $450,000 (cash and/orshares) by 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
About Eastfield Resources:
Projects as follows :
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.
Iron Lake : copper-nickel-cobalt-platinum-palladium-goldproject, located 40 kilometers northeast of 100 Mile House, BC. Theproject is optioned to Tech-X Resources Inc. (a private company headedby Haig Farris). Targets include ultramafic copper-gold-palladium-platinum-cobalt and porphyry copper-gold. Tech-X may earn an80% interest in Iron Lake by completing a total of $12,000,000 in work and paying a total of $1,000,000 inoption payments by December 31, 2027. Work competed in 2021 includedan airborne MobileMT survey flown by Expert Geophysics Limited andextensive geological reconnaissance and sampling. Induced polarizationsurveying which started in January, 2022 and completed in May. 3,000to 3,500 meters of drilling is planned for 2022. Iron Lake is fullypermitted.
Indata :copper-gold porphyry and precious metal quartz vein, 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 newmineralization was exposed by logging activities in the southernregion of the claims with select samples returning up to 3.64% copperand 5.95 g/t gold. The Kwanika and Stardust deposits, owned byNorthwest Copper Corp., are located immediately north of Indata andshare similar geology. A 5,000 meter drill contract has been signedwith work scheduled to start in late June 2022. Indata is fullypermitted.
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 severalgold 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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