Eastfield Resources Responds to the BC Government - No Mining in the Flathead Valley; Will Seek Compensation
The Flathead Valley has a long history of mineral exploration going back more than a century. In 1998 Eastfield negotiated option to purchase agreements with a private corporation for the Crowsnest project, and with Cominco Limited (now Teck Corporation) and Placer Dome Inc. (now Goldcorp Inc.) for the Howell project. Exploration on these projects has been more or less continuous since that time.
In 2009 work at the Crowsnest project identified a mineralized gold bearing structure in several trenches and included a drill intercept of 19.03 g/t gold over a width of 6.1 metres. Eastfield currently has proposed exploration programs for both the Howell and Crowsnest projects in review with the Ministry of Energy, Mines and Petroleum Resources and was in dialogue with this office about these permits as recently as last week including a proposal to drill 56 drill holes at Crowsnest in 2010.
In 2008 Eastfield entered into an agreement with Max Resource Corp. that would have allowed Max to earn a 60% interest in both projects by making staged exploration expenditures, cash payments and share issuances over a four year period.
Eastfield will pursue the BC government for compensation.
Eastfield would like to reassure its shareholders that it remains well financed and will continue to actively explore in other regions of BC that remain mining friendly. Eastfield is a prospect generator whose business strategy involves securing third party exploration financing on its projects. Eastfield has seven projects in British Columbia and one in Nevada. Currently optioned projects include Zymo, optioned to NGEx Resources Inc. (TSX: NGQ); Okeover, optioned to Prophecy Resource Corp. (TSX-V: PCY); Crowsnest and Howell, optioned to MAX Resource Corp. (TSX-V: MXR); Kilometre 26, optioned to Oroandes Resource Corp. (TSX-V: OAR); and Iron Lake, optioned to Cobre Exploration Corp. (TSX-V: CKB-H).
Bill Morton, P.Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.
J.W. Morton, P.Geo.
CEO and Director
Eastfield Resources Ltd.
Contact: Paul Way, Business Development Manager
(604) 681-7913 or Toll Free: 888-656-6611
The TSX - Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Metallic Screen Assays at Crowsnest Confirm Gold Results
As reported in our news release of November 24, 2009, twenty-six closely-spaced reverse circulation drill holes totalling 799 metres were completed with the main objective of determining the orientation and configuration of the mineralized zone that was uncovered in the original Discovery Trench and in two new trenches to the northwest. Of the 26 holes drilled, seven holes (including RC 09-07) contained gold intercepts greater than 2.0 g/t over 1.5 metres and a further six drill holes returned values ranging from 0.5 g/t to 1.86 g/t Au over minimum 1.5-metre intervals. Hole RC 09-07 returned 19.03 g/t gold over 6.1 meters, including 1.5 meters of 50.26 g/t gold. All mineralization was intercepted within 30 metres of surface. A map showing the location of the trenches and drill holes completed at Crowsnest is available on our web site at www.eastfieldresources.com.
MAX is planning a comprehensive exploration program for 2010 with the purpose of expanding the area of high grade mineralization at Crowsnest. New targets that have already been identified during surface exploration and review of historic data will also be tested.
The Crowsnest gold project consists of 15 claims totaling 3,142 hectares located in Southeast BC, one and one-half hours by gravel road south of Fernie. Crowsnest is one of two gold exploration properties that Eastfield has optioned to MAX.
Bill Morton, P.Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.
/s/ J.W. Morton, P.Geo.
CEO and Director
Eastfield Resources Ltd.
Contact:
Paul Way, Business Development Manager
(604) 681-7913or Toll Free: 888-656-6611
About Eastfield Resources:
Eastfield is a prospect generator whose business strategy involves securing third party exploration financing on its projects. Eastfield has seven projects in British Columbia and one in Nevada. Currently optioned projects include Zymo, optioned to NGEx Resources Inc. (TSX: NGQ); Okeover, optioned to Prophecy Resource Corp. (TSX-V: PCY); Crowsnest and Howell, optioned to MAX Resource Corp. (TSX-V: MXR); Kilometre 26, optioned to Oroandes Resource Corp. (TSX-V: OAR); and Iron Lake, optioned to Cobre Exploration Corp. (TSX-V: CXV-H).
The TSX - Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Crowsnest Drilling Assays 19.03 g/t Gold over 6.1 Metres; Includes 50.26 g/t Gold over 1.5 metres
A total of 26 reverse circulation drill holes totaling 799 metres were completed and two new trenches were dug, sampled and drilled to the west of the original Discovery Trench area (where MAX sampled gossan mineralization in June that returned an assay of 104 g/t gold) extending the known mineralized zone by 100 metres. Significant gold assays (over 2.0 g/t gold) returned from the drill program are listed below:
Hole |
Angle |
From (m) |
To (m) |
Width (m) |
Gold g/t |
RC 09-2 |
-60 degrees |
0 |
3.0 |
3.0 |
3.52 |
Including |
|
0 |
1.5 |
1.5 |
6.67 |
RC 09-5 |
vertical |
0 |
3.0 |
3.0 |
3.55 |
Including |
|
1.5 |
3.0 |
1.5 |
6.40 |
RC 09-6 |
-60 degrees |
0 |
6.5 |
6.5 |
6.34 |
Including |
|
1.5 |
3.0 |
1.5 |
16.52 |
RC-09-7 |
vertical |
0 |
6.1 |
6.1 |
19.03 |
Including |
|
0 |
1.5 |
1.5 |
50.26 |
Including |
|
1.5 |
3.0 |
1.5 |
23.60 |
RC-09-9 |
vertical |
0 |
1.5 |
1.5 |
2.49 |
RC-09-14 |
vertical |
0 |
1.5 |
1.5 |
2.07 |
RC-09-16 |
vertical |
0 |
3.0 |
3.0 |
5.42 |
Including |
|
0 |
1.5 |
1.5 |
6.65 |
RC-09-21 |
-60 degrees |
16.8 |
18.3 |
1.5 |
3.42 |
RC-09-25 |
vertical |
0 |
3.0 |
3.0 |
2.51 |
Including |
|
1.5 |
3.0 |
1.5 |
3.14 |
A further six drill holes returned values ranging from 0.5 g/t to 1.86 g/t gold over minimum 1.5 metre intervals. In addition, drill hole RC 09-21 (listed above) intersected a deeper zone grading 3.42 g/t gold further to the south that might indicate a new area for exploration.
Analysis was performed by Acme Analytical Laboratories, an ISO certified facility in Vancouver, B.C., using fire assay and multi-element (ICP-ES) techniques. Standards and duplicates were used for quality control of the samples. In addition, a full Metallic Screen assay has been ordered on all samples to make sure that any coarse gold was not missed during the assay process. These results are expected to be available in early December. A map showing the location of the trenches and drill holes completed at Crowsnest is now available on our web site at www.eastfieldresources.com.
Mr. Clancy Wendt, VP Exploration for MAX states "We are extremely pleased with our initial exploration results at Crowsnest. Not only have we intercepted high grade gold at Crowsnest but we have also extended the known area of high grade mineralization and determined that it is trending to the north, northwest and possibly to the east and is still open. In addition other mineralized areas of the property were identified and sampled during drilling. An area located due south of the Discovery Trench, along the access road, was sampled as the exposure in the side of the hill above the road (limestones overlying carbon rich zones and gossan) looked very similar to the Discovery Trench and Trench 3. Based on these exposures, there appears to be a relationship between the zone of limestone directly above a carbonaceous clay zone and then followed by limonitic/hematite gossan. This makes the zone along the access road extension one of the first exploration priorities for 2010. There are many other areas at Crowsnest where significant gold values were reported by prior operators that have never been followed up; these will be examined during the 2010 exploration program. We have not yet determined the full extent of the gold mineralization at Crowsnest. "
The Crowsnest gold project consists of 15 claims totaling 3,142 hectares located in Southeast BC, one and one half hours by gravel road south of Fernie. Crowsnest is one of two gold exploration properties that Eastfield has optioned to MAX.
Bill Morton, P.Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.
J.W. Morton, P.Geo.
CEO and Director
Eastfield Resources Ltd.
Contact:
Paul Way, Business Development Manager
(604) 681-7913 or Toll Free: 888-656-6611
About Eastfield Resources:
Eastfield is a prospect generator whose business strategy involves securing third party exploration financing on its projects. Eastfield has seven projects in British Columbia and one in Nevada. Currently optioned projects include Zymo, optioned to NGEx Resources Inc. (TSX: NGQ); Okeover, optioned to Prophecy Resource Corp. (TSX-V: PCY); Crowsnest and Howell, optioned to MAX Resource Corp. (TSX-V: MXR); and Iron Lake, optioned to Cobre Exploration Corp. (TSX-V: CXV-H). For more information see our website at www.eastfieldresources.com.
The TSX - Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX - Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.
Eastfield Options Interest in Kilometre 26 Project to Oroandes Resource Corp.
The Kilometre 26 gold project is situated on the postulated main break of the Pinchi Fault, one of the pre-eminent structural features in central British Columbia, extending in a north-south orientation for more than 450 kilometres. The Pinchi Fault is often cited as being analogues to the Melones fault located in the Motherlode district in California. In the Motherlode district California ultamafic rocks, often serpentinized, are frequently spatially associated with gold mineralization with in excess of 100 million ounces of gold having been produced in the nineteenth and twentieth centuries.
The Kilometre 26 property was staked to cover the area where, in 1983 Cominco discovered a large quartz-ankerite-mariposite boulder (altered serpentinite) which repeatedly graded approximately 8 grams per tonne gold. In 1986 Equinox Resources Ltd. optioned the then Cominco owned claims and completed 734 metres of reverse circulation drilling. While no significant gold was intersected several holes encountered ultramafic rock confirming that the boulder was probably located on the main break of the Pinchi Fault but obviously not in place.
Work on Kilometre 26 has commenced and will entail the establishment of soil and geophysical grids to define drill targets along the fault trace both north and south of the discovery boulder.
Bill Morton, P.Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.
Bill Morton, P.Geo.
CEO and Director
Eastfield Resources Ltd.
Drilling Begins at Crowsnest Gold Property in Southeastern BC
The discovery trench area was discovered by Phelps Dodge Corporation in 1994 and trenched by Eastfield in 1999, resulting in a trench intercept of 8.57 g/t gold over 16.5 metres. A sample of gossan mineralization taken near this site by MAX in June 2009 returned an assay of 104 g/t Au. Previous operators at Crowsnest, including Placer Dome Inc. and Phelps Dodge, have suggested that a number of comparables exist between the Crowsnest Project and the Cripple Creek deposit located in Colorado. These comparables include the tectonic setting, alkalic intrusive association and occurrence of tellurium. Cripple Creek, in production since 1890, has produced in excess of 23.3 million ounces of gold (to 2005) and continues to be mined by Anglo Ashanti Gold Mining.
During geological work at Crowsnest conducted in August, Mr. Clancy Wendt, MAX's VP Exploration, determined that the core drilling conducted by previous operators had possibly failed to recover mineralization due to the amount of water used in the drilling process and an incorrect interpretation of the direction of the mineralized structure. A re-examination of the gossanized structure exposed at the discovery trench found free gold. Exploration will be conducted using a small reverse circulation drilling unit which has been selected because of its minimal surface footprint. This unit, which is new technology, was designed for environmentally sensitive applications in the Canadian Artic. It is compact and uses air instead of water, which will eliminate the problem of water washing away free gold from the gossan material. During drilling, small amounts of each sample derived from the drilling will be panned to identify free gold, which may help to identify where gold exists in the system.
In addition to drilling, exploration at Crowsnest will also include following up on previously reported float samples that contained values up to 524 g/t gold, and re-examination of a sample grid further to the west where reported gold values ran as high as 30,000 ppb Au. Many other areas contain significant gold values that have never been followed up on and will be examined as time permits.
The Crowsnest gold project consists of 15 claims totaling 3,142 hectares located in Southeast B.C., one and one half hours by gravel road south of the town of Fernie. Crowsnest is one of two gold exploration properties in B.C. optioned to MAX from Eastfield, as announced in our news release of July 27, 2009.
Bill Morton, P.Geo., who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.
J.W. Morton, P.Geo.
CEO and Director
Eastfield Resources Ltd.
Contact:
Paul Way, Business Development Manager
(604) 681-7913 or Toll Free: 888-656-6611
About Eastfield Resources:
Eastfield is a prospect generator whose business strategy involves securing third party exploration financing on its projects. Eastfield has seven projects in British Columbia and one in Nevada. Currently optioned projects include Zymo, optioned to Canadian Gold Hunter (TSX: CGH); Okeover, optioned to Prophecy Resource Corp. (TSX-V: PCY); Crowsnest and Howell, optioned to MAX Resource Corp. (TSX.V: MXR); and Iron Lake, optioned to Cobre Exploration Corp. (TSX-V: CXV-H).
The TSX - Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX - Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.