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Copper-gold Project
This project is located in north central British Columbia, 40 Km west of the town of Smithers. It has two types of mineralization: bulk tonnage copper-gold porphyry mineralization and peripheral related zones of high grade gold-silver mineralization.
This property is optioned to NGEx Resources who may earn a 60% interest in the property by making cash payments totaling $350,000, making share issuance of 50,000 shares and completing exploration expenditures of $4 million by 2013. NGEx may earn an additional 10% interest by completing a feasibility study and an additional 5% by arranging mine financing for Eastfield.
Copper-molybdenum-silver-gold
This is a porphyry prospect 20 km north of Powell River, British Columbia. There is a current mineral resource, completed in 2006, of 86.8 million tones grading 0.31% copper and 0.014% MoS2 at a 0.20% copper cut off.
Optioned to Prophecy Resources Corporation. Prophecy Resources may earn up to a 60% interest in the Okeover Project by making cash and share payments and incurring $1-million in exploration expenditures prior to March 2010. Exploration expenditure requirements were satisfied in 2009 and a final option payment to Eastfield of $50,000 is due March 8, 2010.
Palladium-platinum-gold-copper project
This project is located in southeast British Columbia. Drilling that was completed in Feb 2005 intersected significant massive sulphide mineralization.
Iron Lake was optioned to Cobre Exploration Corp. in June 2008. Cobre can earn a 60% interest in the Iron Lake project by incurring $1,500,000 in exploration, making $195,000 in cash payments, issuing 500,000 shares and issuing more shares valued at $100,000 before June 1, 2012.
Copper-gold project
This project is located in north central British Columbia and consists of several styles of mineralization.
Indata is available for option.
Gold
The Kilometre 26 Gold Project is located in central British Columbia approximately 55 kilometres northwest of Fort St. James.
Optioned to Oroandes Resources Corporation. Oroandes may earn a 60% interest in Kilometre 26 by spending $1,575,000 on exploration, issuing 275,000 shares and making $107,500 in payments by September 25, 2013.
Gold Project
This project in southeastern British Columbia in the Flathead Valley is a gold exploration project with a 2009 discovery of high grade gold.
Crowsnest and Howell were optioned to MAX Resource Corp. in July 2009. MAX can earn a 60% interest in either the Howell project or the Crowsnest project or both over a four-year period. In the initial stage of this earn-in, MAX must make cash payments totaling $60,000 to Eastfield (of which $10,000 was paid on signing), issue 100,000 shares to Eastfield (50,000 shares in the first year) and complete aggregate exploration expenditures on both properties of $400,000 by the second anniversary date (June 30, 2011). To complete its Crowsnest earn-in, MAX must make further cash payments to Eastfield of $90,000, issue 400,000 shares and spend a further $1,050,000 on exploration at Crowsnest prior to June 30, 2013.
Gold and base metal property
This gold exploration project in the Flathead Valley is located 10 km northwest of the Crowsnest property.
Howell and Crowsnest were optioned to MAX Resource Corp. in July 2009. MAX can earn a 60% interest in either the Howell project or the Crowsnest project or both over a four-year period. In the initial stage of this earn-in, MAX must make cash payments totaling $60,000 to Eastfield (of which $10,000 was paid on signing), issue 100,000 shares to Eastfield (50,000 shares in the first year) and complete aggregate exploration expenditures on both properties of $400,000 by the second anniversary date (June 30, 2011).
To complete its Howell earn-in, MAX must make further cash payments to Eastfield of $90,000, issue 400,000 shares and spend a further $700,001 on exploration at Howell prior to June 30, 2013. MAX will also be responsible for its portion of the $200,000 payment due to Goldcorp Inc. and Teck Cominco Metals Limited by August 31, 2010 pursuant to Eastfield's underlying option agreement with them.
Silver-gold property
This project is located in Nevada. It is an Au-Ag deposit with 100% interest acquired in August 1999.
The project is currently available for option.
Summary of Mineral Properties and Status (April 2008)
| |
OK |
Indata |
Iron Lake |
Crowsnest |
Howell |
Zymo |
Kilometre 26 |
Tonopah |
| Status |
Farmed Out |
Available
|
Farmed Out |
Farmed Out |
Farmed Out |
Farmed Out |
Farmed Out |
Available |
| Location |
BC |
BC |
BC |
BC |
BC |
BC |
BC |
Nevada |
| Optionee |
Prophecy |
- |
Cobre |
MAX |
MAX |
Canadian Gold Hunter |
Oroandes |
- |
| Mineral |
Cu, Mo, Au |
Cu, Au |
Cu, Au, PGM |
Cu, Au |
Cu, Au |
Cu, Au, Ag |
Au |
Au, Ag |
| Option Date |
Mar-06 |
- |
June-08 |
July-09 |
July-09 |
May-08 |
Sept-09 |
- |
| Option Term |
Four years |
- |
Four Years |
Four Years |
Four Years |
Five Years |
Four Years |
- |
| Interest to be Earned |
60% |
- |
60% |
60% |
60% |
60% See Note |
60% |
- |
Note: Canadian Gold Hunter may earn an additional 10% interest by completing a feasibility study and an additional 5% by arranging mine financing for Eastfield.
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