Eastfield Expands the Zymo Property Adding Several New Targets
April 17, 2024 Eastfield Resources Ltd. (“Eastfield”, TSX-V: ETF) has recently increased the Zymo Property claim holding by staking an additional 5,284 hectares to total 18,184 ha. Zymo lies approximately 45 km west of the town of Smithers, B.C. and is accessible by logging haul roads. Previous exploration on the Project has seen expenditures of approximately $5M since 2007 which has resulted in the outline of an 8 km x 2 km open ended IP chargeability anomaly that encloses several zones of copper-gold mineralization related to Jurassic/Cretaceous intrusions.
The most advanced mineralized zone is the Hobbes Zone, near the western end of the IP anomaly. This zone was discovered by prospecting magnetic features and the strongly potassium altered outcrop is a beautiful illustration of the style of mineralization which is described as an intense quartz-chalcopyrite-magnetite stockwork developed in and around a diorite intrusion. Strong mineralization has also seen as disseminations in biotite hornfelsed sediments. The Hobbes Zone has been traced by 21 drill holes for over 600 m in a westerly direction and is still open to the west and down dip. A summary of the drill results is attached.
A recent review of regional geologic and geophysical surveys undertaken by the BCGS, MDRU and Geoscience BC (not previously included in the company data base), outlined a number of new target areas including magnetic anomalies both to the north and east of the property that indicate possible porphyry copper-gold targets, but also potential volcanogenic massive sulphide targets within the Quock Formation which is a stratigraphic equivalent to the host rocks of the Eskay Creek Mine (see attached maps).
Eastfield is planning to further develop targeting by first undertaking a petroscopic review of the several hundred rock samples collected from the property with the goal of better vectoring through identifying rock alteration patterns related to known areas of mineralization and projecting those outward where no drilling has been carried out to date.
A ground follow-up of identified targets in the new claim area as well as within our already defined target areas is also planned and it is expected that this work will give a better definition of where we should be expanding our geochemical and geophysics surveys. We believe that this is an exciting new addition to the exploration potential of the project and look forward to a successful 2024 season.
This news release has been reviewed and approved by Mr. G.L. Garratt, P. Geo., who is the Qualified Person within the context of NI 43-101 and takes responsibility for it.
Glen Garratt, P. Geo.
VP, Director
Contact: (604) 681-7913 or Toll Free: 888-656-6611
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
For more information, please visit the company’s website at www.eastfieldresources.com.
Magnetic Features on the expanded property; note the black dashed line indicating the IP Chargeability Anomaly and the magnetic feature that is directly related to the Hobbes Zone.
| Hole | From (m) | To (m) | Interval (m) | Au (g/t) | Cu (%) | Cu eq. (%)\* |
|---|---|---|---|---|---|---|
| HOBBES ZONE | ||||||
| ZY08-07 | 113.00 | 182.00 | 69.00 | 0.22 | 0.33 | 0.50 |
| ZY08-08 | 51.00 | 111.00 | 60.00 | 0.26 | 0.40 | 0.60 |
| ZY08-09 | 3.00 | 256.00 | 253.00 | 0.23 | 0.32 | 0.50 |
| incl. | 15.00 | 87.00 | 72.00 | 0.55 | 0.72 | 1.14 |
| ZY08-10 | 3.00 | 198.00 | 195.00 | 0.19 | 0.29 | 0.44 |
| incl. | 18.00 | 75.00 | 57.00 | 0.32 | 0.43 | 0.68 |
| ZY08-11 | 6.00 | 153.00 | 147.00 | 0.10 | 0.16 | 0.24 |
| ZY09-13 | 252.00 | 381.00 | 129.00 | 0.12 | 0.20 | 0.29 |
| ZY09-14 | 3.00 | 276.00 | 273.00 | 0.15 | 0.23 | 0.35 |
| incl. | 21.00 | 93.00 | 72.00 | 0.29 | 0.41 | 0.63 |
| ZY09-15 | 30.00 | 441.00 | 411.00 | 0.11 | 0.21 | 0.29 |
| incl. | 87.00 | 153.00 | 66.00 | 0.20 | 0.33 | 0.48 |
| ZY09-16 | 30.00 | 369.00 | 339.00 | 0.13 | 0.23 | 0.33 |
| incl. | 201.00 | 279.00 | 78.00 | 0.26 | 0.41 | 0.61 |
| ZY11-20 | 3.00 | 174.00 | 171.00 | 0.24 | 0.29 | 0.47 |
| incl. | 3.00 | 129.00 | 126.00 | 0.28 | 0.34 | 0.55 |
| ZY11-21 | 3.00 | 165.00 | 162.00 | 0.15 | 0.18 | 0.30 |
| ZY11-22 | 11.00 | 47.00 | 36.00 | 0.34 | 0.43 | 0.69 |
| ZY11-23 | 6.00 | 315.00 | 309.00 | 0.13 | 0.21 | 0.31 |
| incl. | 6.00 | 201.00 | 195.00 | 0.18 | 0.29 | 0.43 |
| ZY11-26 | 180.00 | 255.00 | 75.00 | 0.20 | 0.29 | 0.44 |
| ZY11-27 | 33.00 | 156.00 | 123.00 | 0.15 | 0.21 | 0.33 |
| and | 183.00 | 255.00 | 72.00 | 0.11 | 0.19 | 0.27 |
| ZY11-28 | 123.00 | 228.00 | 105.00 | 0.14 | 0.20 | 0.31 |
| incl. | 150.00 | 180.00 | 30.00 | 0.19 | 0.30 | 0.45 |
| ZY12-32 | 6.30 | 180.00 | 173.70 | 0.20 | 0.26 | 0.41 |
| ZY12-34 | 219.00 | 306.00 | 87.00 | 0.08 | 0.15 | 0.21 |
\*Cu. Eq. using
| Copper | US$4.00 | Lb |
|---|---|---|
| Gold | US$2,100 | Oz |
Assumptions used in USD for the copper equivalent calculation (CuEq) were metal prices of $4.00/lb. copper, $2,100/oz gold, recovery is assumed to be 100% for copper and 100% for gold as no metallurgical work has yet been completed. The following equation was used to calculate copper equivalence: CuEq = Copper (%) +Gold [ (g/t) x 0.77].